Chinese Domain Sales.
Huge domain news about a large LLLL .com domain portfolio holder, but first, some facts about China’s economy as of February 1st.
The Year of the Monkey is about to arrive in China, and the numbers about the manufacturing performance in China are outright as ugly as a monkey’s ass.
The Purchasing Managers Index (PMI) of China fell to 49.4 – the lowest it has been in 3.5 years.
A PMI of more than 50 represents expansion of the manufacturing sector, compared to the previous month and China is clearly on a contraction course.
That’s not where the ugly news about China’s economy end, as several large Chinese companies are announcing severe profit loss warnings:
PetroChina 60-70% profit loss
Jiangxi Copper 60-80% profit loss
China Oilfield 85% profit loss
Zoomlion Heavy 80-90% profit loss
Faw Car 88% profit loss
Yikes!
And now for the big news about a large LLLL .com portfolio of “Chips” domains that hit the proverbial chopping block.
Hong Kong based “Zhao Dan” is selling numerous “Chinese premium” letter LLLL .coms, in what appears to be one of the largest attempts to cash in one’s chips, in recent memory.
Over-supply often leads to further dropping of prices, and this list of 227 LLLL .com domains is massive!
Will other large LLLL .com portfolio holders follow?
bfwh.com
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Get some pop corn and prepare for some fun…
Konstantinos – Or some salsa for these chips 😀
I feel bad for Zhao Dan if he needs to liquidate these domains. Can you imagine if he had to liquidate brandables, keywords and even many single word domains? He would get next to nothing. At least 227 LLLL.com CHIPs will get him $450,000 in a fire sale. That’s really fantastic. If these 227 CHIPs become available, they’ll quickly be absorbed by the market. Not only are there more buyers than sellers, there are more buyers than domains for sale. There are thousands of buyers and you mention hundreds of domains. If 227 CHIPs is ‘massive’, my collection is super collosal.
Todd – Let’s dissect your statements a bit.
1. You assume he will sell each and every domain, at a price above realistic market conditions. To get $2k per chip he’d have to travel back in time 2-3 months. Even at $1600 these don’t sell these days.
2. Buyers that are now becoming sellers, have overextended their acquisitions. These aren’t reg fee buys, they could be anything e.g. $1,000 or more per domain. That’s what hype creates, a constant passing of the bag til the last person holding it gets stuck with worthless assets.
3. Thousands of buyers? I LOL’ed.
4. If you have thousands of LLLL .com domains – I’m sure they aren’t chips or you would have cashed them in, if you’re that smart. In other words, your inventory and Zhao Dan’s do not compare.
5. Brandables, keywords and single words leave a far more larger ROI as there is no rush to sell. Got stuck with Chinese chips, that’s another story. Domain flipping is for newbs.
I don’t agree with anything that Todd has to say.