Domain names can be resold multiple times, making room for new owners. Once registered, a domain name can be transferred to another person or entity, in a transaction that might involve financial compensation; some domain sales can fetch millions of dollars.
The beauty of it all is that the process can be repeated several times for the same domain name.
Sparky Dimes, an entrepreneur from Peoria, Illinois, discovered that recently, after selling a domain name for $1,800 dollars six months ago.
To his surprise, the domain was then resold at a much higher price: $157,644 dollars.
Sparky Dimes, domain entrepreneur
“It’s not exactly fair that someone took the domain I sold them and found another buyer, who paid a sick amount of money for it,” says Sparky Dimes.
“Had I known that someone out there would pay this much money for the domain I hand-registered, I would have waited out and pocketed some serious money,” added Sparky Dimes.
The domain entrepreneur has been domaining for a little over a year, scoring three and four figure sales that he shares on social media. Upon discovering that his domain was resold for such an ungodly amount of money, he became quite upset.
“There has to be some regulation out there, that forbids the new owner of a domain to resell it for profit, at least that’s what I believe,” says Sparky Dimes, adding: “No compensation to the original owner after flipping the domain, hey, I don’t think that’s fair!”
Sparky Dimes now plans to draft a contract with every domain sale forbidding the new owners from reselling the domain. Good luck with that, Sparky.
