Last modified on June 12th, 2020
How to buy and sell domains and websites online
A website is a group of World Wide Web pages that are connected to each other using hyperlinks that are embedded in each page to navigate between different pages. These Websites are made available online by an individual, any company, government, an educational institute, or by a private organization.
They are created to get connected to people around the globe to communicate information as well as to expand businesses or for marketing purposes.
Ex: Microsoft.com, Google.com
A domain name or simply a domain is used to identify IP addresses. Internet works on IP addresses and it is difficult to identify and distinguish an IP address with any other. Domain names are used to identify particular URLs to identify specific pages. As the Internet is based on IP addresses so every Web Server requires a DNS (Domain Name System) to translate Domain Names into IP addresses.
Ex: www.Google.com (Domain for the whole set of IP addresses)
www.webopedia.com/TERM/D/domain_name.html (Domain for a specific web page)
The buying and selling of domains and websites is actually a business, people make a career out of it for living. The process of buying domain names and websites is almost the same. I have explained the process of buying and selling a domain in an Auction below.
Buying of a domain at an Auction
First, you need to visit a website that is hosting a Domain Auction. These websites include GrateDomains, Bido, eBay, SnapNames, NameJet, GoDaddy Auctions, Flippa (Also has full websites for sale). After visiting your desired website, you need to find the domain that suits your requirements or if you have a keyword, you can search using the keyword to get the desired domain. If you do not have keywords of any kind in mind, you can choose from the listed domains. While selecting the domain name, you need to consider some points, some of which are:
- Does this specific domain name is related to my business?
- Would remembering this domain name be easy for my customers?
- Why are they selling this domain/website?
- Are they providing proof of traffic on the website? Confirm it with a trusted platform like Google analytics.
- Can you trust the person or the company who is selling it? Speak to the seller personally.
- Take advice from a professional who can guide you better in buying which domains that would benefit your business.
- Ask the seller about the specific details related to the traffic and revenue of the website as well as its age.
After selecting the domain of your liking, place the bid that you think is good enough for this domain. The bid should not be too low that you might get an awkward reaction email from the seller. The bid should be 70% of the asking price. If you win the bid, the current owner of the domain will contact you for the arrangement of payment. Some websites have their own guidelines and methods to transfer assets safely to make transactions at both parties’ trustable, easy and successful. On the other hand, if you lose the bid, you will not pay for the domain and you can use your assets to bid for other domains.
Selling of Domain at an Auction
Firstly, find a marketplace that is hosting auctions for domains. You can use the same websites as mentioned above for this purpose too. Create an account and provide details of your domain. Select a price for your domain using a valuation tool.
Do not be greedy while selecting the price. It should be fair enough considering the interests of both parties. Premium domains have higher price tags, domains that are old enough, or has a lot of traffic worth more, and domains that are already earning money have more values.
Be honest, upfront and ready to answer all the diligence questions related to the website or the domain you are selling which will portrait a better image of you as a seller. You should specify the age, traffic volume as well as earnings of your domain in your sales listing to pitch to your buyers. You will be notified for each bid and when a bidder wins the domain then you will have to contact the bidder to arrange a meeting or online transaction of assets and to transfer the domain to the new owner.