I Sold A Domain On Flippa Today….3 Big Lessons Learned!

I’ve Been Meaning To Sell A Domain For Ages So Let’s Doi It!

Last week I decided to take some action on selling one of my key domain names that I had in my portfolio, something that if you have been following my story for any length of time will sound familiar.
I had set up a few gateways to either sell my domains or just make a few dollars from having them show up in the search engines via parking platforms. To be honest neither had been that successful and that may just be down to the fact that I hadn’t really done anything to drive traffic to those sales vehicles.

At the start of the week though, I had set myself the goal to put up one of my key domains to see if I could get it sold and transferred to the new owner and make a few more dollars than I’d actually paid for it.

Brandable Domain Names Are Big Business

The domain name was BrandEstablisher.com and I thought it was a really good name too. I remember how I came to a decision to go buy it if it was available, I was on a webinar with a guy called Paul Stinemetz. Paul owned a great outsourcing company called Endless Rise which was based in Asia, he and his team offered ready done services for local and multi-million dollar internet marketers.
Endless Rise had the staff that was well educated and had experience in their chosen field.

That’s Why You Need The Brand Establisher Package

The majority of the services that were available were obviously good sellers such as SEO, Social Media Marketing, Website building and far too much more for me to be typing out but I think you get my drift on what kind of company Paul was running. It was absolutely great material and they were fairly cost-effective in the majority offered. All you had to do as an offline marketing specialist was get the business and then hook the new client up with the team in Asia and they would take care of the rest from there.
This webinar was about a new service that they were about to launch, it was all about offering Branding and Establishing your client’s businesses and Paul was always very polished in his presentations and his slides were always available for you as his customer to use should you want them.

Why Not Head Over To Godaddy?

The product had the header Brand Establisher in big orange letters with an echo of an outline in an almost neon blue, sounds rather odd now but I think that header had me thinking to myself ” I wonder if they had remembered to go get the domain prior to launch?” I couldn’t believe my luck as I took it to the checkout and added it to the hundred or so other domains that I had just sitting there on my account.
That was over two years ago and I still hadn’t done anything with the bloody domain!

Endless Rise Came To An Unfortunate End

Paul Stinemetz, We were told, unfortunately, had a really bad motorcycle accident and that his mental and physical state would not be able to withstand the time and effort required to run his company so he did one last webinar to introduce a guy who ha purchased the company and would bring his style to the table….yeah right! I don’t think Endless Rise is in business any longer and if it is, it certainly has had a name change.
I have recently heard from Paul too, he has risen from his injuries and is starting over so when I get some info on what he’s doing these days then I’ll bring you up to date too.

Anyhoo, back to my domain BrandEstablisher.com

I Put BrandEstablisher.com Up For Sale On Flippa!

It was early here in the UK on Monday 12th June and I went ahead and listed the domain, paid the $9 listing fee and took advantage of the secure “Free to use” Flippa Escrow service and I also put my testicles on the table and let it ride with NO RESERVE!
I completed the additional instructions to change my DNS settings to get the free sales page too which basically was on Flippa and I thought was quite a good idea as you could just send potential buyers to your domain name and it would show this feature and then if you so wished to forward them to the auction…cool

The Bid For A Dollar Comes In And I Start To Panic!

The weekend comes in fast and I’d had no bids so I thought I better try and drum up some interest. I put the search term in the Google browser to see what Brand Establisher would bring me by way of potential buyers? I noticed that there were a large number of companies using the prospecting templates from the Endless Rise webinar and its back end service upgrades. I knew I had done well getting this domain but then again it wasn’t in front of these businesses to take advantage of!
I started to write out individual emails to each business owner about my offer and realized that this was Friday afternoon and the fact that they may not see the email until Monday morning USA time dawned on me. What an idiot! I could have kicked myself, I really felt sick at the thought of this domain going for nothing. I did notice that my watchers had gone from one to six after I had sent my tenth email out and I was hopeful that someone would give me a decent offer…..
My first bid did come in that evening…….$1

This Is A Strategy If You Want To Make The Big Dollars

That bid was both exciting and shit at the same time! Flippa gives you the details of the bidders account so you can see what their buying and selling patterns and history are like. I took a look at the bidder’s account and they had lots of domains that they had successfully robbed at a $1! Then go on to resell them for tens and maybe hundreds more! Now that’s a business model right there if you want to get some bargains.

It’s Going To Sell But Not For A Dollar Thank God!

On Sunday I thought I’d try to inject some kind of boost to the pending downfall of my offer. I wrote in the comment box a paragraph that tugged at the potential buys heart strings so to speak and added with a twist of motivation hoped it would make a difference?
I did work because I got a second bidder who had a similar track record to my initial bidder. I think this bidder was also a bargain hunter ready to pounce but I had to admit that I was going to be happier with their bid than the one for a dollar.

In The Wee Hours Of The Morning, It All Comes To An End

The final bid came from some dude in Viva Las Vagas, he had left it right until the death and scooped himself a bargain at $11…Gutted as I was I knew it all came down to my marketing skills and lack of in this case “Foresight”.

The 3 Things I Will Do The Next Time I Put Up A Domain For Sale On Flippa

Put more effort into the preparation of my auction: What I did was just stupid, I was so quick in my decision to choose a domain that I knew had value to it but lost all respect for that value by flippantly throwing it up on Flippa

Do the research and make contact with the right people who the domain would relate to: I only started to reach out in desperation when I knew that I wasn’t going to get much for my domain and it was far too late to turn it all around.

Make sure that the domain will make more than the fee’s involved: I thought I’d be getting at least $9 back after Flippa had their success fee but oh was I so wrong! Here is the brutal lesson I have buzzing around my head for the rest of my day:

Domain first purchased for two years $14:95
Flippa Listing Fee $9:00
Flippa Sucess Fee $1:00
Escrow Fee International Bank Transfer Fee $25:95 !!!

This would have left me with a balance of -$15:95 just to do the transaction of this sale! Well, I am stupid I admit that but I ain’t totally stupid, so the highest bidder got a steal of a deal and Flippa got their fee’s from the bidder and my listing and success fee but I refuse to pay an International Bank Transfer fee. Big Big BIG LESSON from this experience.

I hope you can avoid what I have had to happen to me when you sell your domains on Flippa, just be aware and stay focused!