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In today's world, there are numerous ways to accumulate wealth, some of which might even be considered peculiar. Take, for instance, those who make money online by delving into the world of domain names.
In today's world, there are numerous ways to accumulate wealth, some of which might even be considered peculiar. Take, for instance, those who make money online by delving into the world of domain names. Surprisingly, this unconventional method can yield substantial profits.
It's sometimes hard to fathom how a few strings of English letters can hold such significant value. That's why today, I'll introduce you to someone who excels in this realm—Rick Schwartz, also known as the "Domain King" in the United States.
This American investor is renowned in the global domain investment arena. As early as 2017, Rick possessed around 7,000 domain names, with 750-1,000 valued over six figures, 150-200 valued over seven figures, and 5,500 valued between $0 and $100,000.
Rick realized long ago that the internet is the greatest sales tool in history. Back then, this notion wasn't widely recognized, and many were skeptical of his endeavors. Undeterred by family and friends, he invested his last $2,000 to explore ways of profiting from websites. This marked the beginning of his journey into the world of domain names.
A seasoned salesman, Rick Schwartz once stated: "Large websites spend millions, airing 30-second ads on TV and in magazines, yielding short-term gains. However, they overlook a stable, long-term income—domain names. The cost of an ad is enough to purchase numerous premium domain names, with no additional daily costs."
Since his domain investment journey began in 1995, Rick has handled countless domain names, many of which have been sold for substantial sums. For instance:
- In 2003, he bought Men.com for $15,000 and sold it for $1.32 million.
- In 2015, he sold the domain name Porno.com for $8,888,888.
- In the same year, 9595.com was sold for $180,000.
- 989.com was sold for $815,000.
- And 899.com was sold for $801,000.
On May 25th this year, Rick wrote a blog post titled "My 33 Domain Sales from 1999 to 2019." Let's delve into the realm of the Domain King's remarkable creations. For example:
- Men.com: Purchased in 1995 for $15,000, sold for $1.32 million.
- Candy.com: Acquired in 2005 for around $100,000, ultimately traded for over $5 million and additional fees.
- Porno.com: Purchased for $42,000 and sold for $8.88 million.
- eBet.com: Bought for $100 in 1997 and sold for $1.35 million.
- And many more.
These 33 transactions earned him a total sales revenue exceeding $23 million, along with millions in leasing income. With an average sale of approximately $701,649, each domain name holds an increasing value trend. Rick Schwartz's domain assets are estimated to exceed $500 million, if not closer to $1 billion by conservative estimates. His foresight, combined with his tenacity, earned him the title of "Domain King."
Rick once said, "Back then, there were likely billions of people with the same opportunity as me. Unfortunately, they only saw trees, not the forest—they missed out." His exceptional success stems from his keen business acumen, proactive approach, and the establishment of T.R.A.F.F.I.C., an annual domain conference that facilitates networking and collaboration, greatly advancing the domain industry.
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