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I was over at Rick latonas blog just a min ago and i was reading this post. It got me thinking and it further confirms “the bigger fool theory”. I mean emotional attachment is a huge role when it comes to any domain. If you think back to the very first domain you regged or a “milestone” domain, i.e. LLL.com, they might have been really really crappy domains but you have emotional attachment to them and you personally would value you them higher than most other people would.
I currently still hold the first domain i ever purchased and to be honest it is crap. Although it is crap in my eyes, and most others, i wouldnt let it go for anything less of $10K. That is a HUGE reach for this domain.
What im trying to say is if you can pick up a domain for hella cheap but you know a place you can sell it to someone else that you know will want it more than you do, that person will more than likely pay more for it than you would. Hence “the bigger fool theory”.
I think in essence this is kind of what flipping a domain consists of. Finding that person that wants it more than you do. In some cases its easy and in others its not. This refers to the other part Rick was talking about in his blog, the “excitement” factor. He uses the example of Aquaphobia.com, now at first glance you think, NICE domain. And it is. Though it is not exciting, fear of water?! Why would anyone want to build a mass site and make money off it though the fear of water. I would rather take Baja.com which sounds exciting and fun. When i first think of Baja i think of MEXICO. That is one of my favorite places on this earth. What do you think of when you think of MEXICO?
Theres your answer!
Conclusion: Domains with excitement and emotional attachments to them will sell faster and for a better price compared to boring and “hard” names. Don’t get me wrong though, there are boring and “hard” names that are worth a pretty penny!
tag: buy domain names
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