If I could do this two or three times a month it would be a great source of extra income. However, it is not easy to be a domainer and I mostly just sold this name so I could call myself a domainer.
Domaining is a lot of fun and I have been studying it for the past five years. You search for names on GoDaddy.com you like and think could be valuable now or down the road and purchase them for only $10. Its a very small annual investment that could make you money. You can also look at a company and go and search for a domain name that would help their business. Then buy it or if someone already owns it you can broker it to the company and make a commision.
How I made $365 from selling one of my domain names:
The other day out of the blue I received a phone call from a guy asking to purchase one of my domain names. My first reaction was that I really liked the name and didn’t want to part with it. I had a plan to develop the domain name and write a ebook, but decided to take the money. I currently own 51 domains so this helps pay for some of those recurring annual costs. This was the first domain I sold and it was hard to let go of it, but I think it was a good business decision. Who knows maybe the new owner will go on and make a million with it, but we shall see. It was going to be a good deal of work to develop it and I have many other projects that are a higher priority.
How do u value a domain name:
Domaining is a lot like real estate. In fact it is online real estate or as the article below describes it as virtual real estate. There are a many things to keep in mind when determining how valuable a domain name is, but a few of the most important things to look at are current traffic, potential direct type in traffic, Search Engine Optimization value and names that might have value to a company or individual. Things that you want to stay away from are buying names that are trademarked or have the potential to become trademarked.
Places to purchase new domain names:
I purchase domains from a few different places, but the one I use most is godaddy
Check out this post on how to price a domain name to sell:
How to estimate the value of a domain name
Have you ever bought or sold a domain name? How did determine how much to sell or buy it for?