There’s only pennies in domains, says Tom Sowa.
An article by Tom Sowa at The Spokesman Review, claims that “The odds of winning the lottery are better than striking it rich by scooping up Internet domain names.”
Tom, whose recent articles include covering the death of Gary Singer, owner of a downtown musical instruments store, and the passing away of Judge John Schultheis, attempts to cover the apparent death of domain investing.
To support his point, he tells the story of a Don Adair from Spokane, who owned the domain name Steamteam.com since 1996; after holding it for “nearly 20 years“, he sold it to a Texan businessman who owns a steam cleaning business; “tripling his investment” in the process.
First off, 20 years since 1996 takes us to 2016; the sale occurred in 2012. Assuming they paid Network Solutions $50 per year for those 16 years, that’s a cost of $800. Apparently, the domain Steamteam.com was sold for $2,500.
Domain investor, Mike Mann, sells worse domains for ten times as much on a given day. It seems that Don Adair’s negotiation skills weren’t that steamy, but how is this example defining an entire industry, is a mystery of journalistic laziness.
The article’s writer then goes on to quote other local entrepreneurs who delve in the fine art of “domain selling”; it seems that the local market needs to come up to speed with how domains are evaluated, appraised and successfully sold.
The comments that follow the article are a great read, almost better than the article itself. Finally, someone states that the article lacks research and points everyone to the weekly sales listings of DNJournal.
Overall, an article that will probably entertain you as the domaining week kicks off to a great start tomorrow.
This post is 100% true!
