I got this question from one of my subscribers, and it’s a good one.
He wrote…
“I’m thinking of getting your friend Gene’s 5 domaining course.
I saw the 700X profit you made with one expired domain and I might try that method.
But Jim, isn’t registering expired domains and selling them for profit like stealing?
I mean, isn’t this taking advantage of people who forget to renew their domain?”
– Anonymous
Great question. On the surface I can understand why some people might think that.
But once you understand how the registrars work, you may see things differently.
For starters, most domains owners who want to keep their domain put it on auto-renew.
If their domain does not auto-renew either because of an expired credit card or because they are not on auto-renew, there are safeguards in place for them.
They are contacted multiple times leading up to and after the expiry date. Then there is a lengthy redemption period where they can re-register and keep their domain name.
Only after that, is it dropped and made available to the general public.
So no, registering expired domains is NOT stealing.
Most people who let domains expire simply do not want the domain any longer.
So how in the heck is mining expired domains profitable?
Well, its simple. Let’s say Joe Blow from Idaho started an RV Business 15 years back and bought the domain JoesRVs.com.
Then this year, ol’ Joe retired or got out of the business for one reason or another and let the website and domain go.
Well more than likely there are other Joes in the world who sell, rent and service RV’s.
But when they started their business they couldn’t get that domain because it was already taken. So they settled for a longer less memorable domain.
Don’t you think they’d want to know that JoesRVs.com is available? You bet they would, and they’d happily pay a premium for it.
Now, what if you were to buy an expired domain and list it for sale, then the owner contacted you and said hey, I forgot to renew it and I need it back!
Well, you could always sell it to him for a couple bucks if you wanted to be a nice guy. But the chances of that happening are slim, with all the safeguards in place.
A more likely scenario is that you’ll find another Joe who wants it and is HAPPY to pay you for it.
I know, because I bought a FIRSTNAMERESTAURANT.com domain for $1.
Three days later I sold it for… get this… $700!
If you’re looking for a great way to supplement your income in your spare time, this is a great way.
To get all the info and tools you need, grab Gene’s Domaining Course before while you can…
You’ll learn all the tricks of the trade and get some really cool tools to speed your success.
Jim Daniels
BizWeb eGazette
