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As someone with 20 years of experience in the domain industry and having navigated many twists and turns in the investment world, I have summarized 10 pieces of advice.
As someone with 20 years of experience in the domain industry and having navigated many twists and turns in the investment world, I have summarized 10 pieces of advice. Every sentence is heartfelt, and these principles apply to investments in any industry. I recommend saving them as they can help you avoid pitfalls on your investment journey, with a focus on profitability.
1. The "find a bargain" mentality is not advisable.
Spending a few dollars or a few hundred dollars with the hope of finding a top-tier domain worth tens of thousands or even millions is a dream many have had. Recent news about high-value domain sales has created a wave of "bargain hunters" who often end up purchasing heaps of junk. For the average person, trying to find a hidden gem in domains is similar to playing the lottery for a 5-million-dollar jackpot. This "find a bargain" mentality often leads to financial losses.
2. Never become "the biggest fool."
There is a famous theory in domain investment known as the "biggest fool" theory. The key to speculative behavior is determining if there is a "bigger fool" than yourself willing to pay a higher price. As long as you are not the biggest fool in a transaction, you are considered the winner. If there isn't someone willing to pay a higher price (the "bigger fool"), then holding an expensive domain makes you "the biggest fool."
3. Don't act unless it's a premium deal.
Premium domains often appreciate in value more rapidly. To succeed in domain investing, you must target premium domains. For instance, premium two-letter domains have become increasingly rare, and their prices have risen by 20%-50% annually, far exceeding the growth of numeric two-letter domains.
These are the first three points of advice for successful domain investment. If you would like me to continue with the remaining points, please let me know.
4. Never touch what you don't understand.
Only buy what you understand; avoid purchasing anything you don't comprehend, no matter how tempting it may seem. Smart individuals know that behind temptation often lies a trap. Many newcomers to domain investing, just starting out, see media reports of domains being bought for hundreds of thousands or even millions. If a big player sets a trap, they might walk right into it.
5. In collectible investments, don't be a "jack of all trades."
Being a "jack of all trades" in the investment world, where you collect a bit of everything and have only a shallow understanding of each, is not advisable. These individuals jump into whatever is currently hot in the market. Over time, they find it difficult to achieve substantial gains. Specialize in a specific category, become an expert, and have a deep understanding of the market trends to truly make money.
6. Stick to the long-term and reject short-term speculation.
Domain investments generally require a long-term perspective. Buying and selling at auctions, where commissions can exceed 8%, makes short-term speculation challenging. One of the biggest challenges in collecting art is liquidity. For instance, investments in domains like two-letter combinations, if sold too hastily, might only fetch a low price. In early 2012, a two-letter domain received an offer of 30,000 yuan, but the owner insisted on 100,000 yuan. By the end of 2014, due to a financial need, the owner ended up selling it for just 20,000 yuan.
7. Absolutely avoid mediocrity.
Mediocrity is the archenemy of collectors. Those who buy mediocrity, thinking others are fools, often find themselves as the biggest fools. Buying mediocrity only results in a loss for oneself.
8. Don't be fooled by various titles, real or fake.
Certain "big shots," "VIPs," or claims like "a domain was purchased by a well-known overseas website" can be encountered in the world of collectible investments. If you're involved in domain investment, you might come across people with such titles, but don't be misled by titles alone. When buying a domain, focus on the domain itself, as these titles are often used to impress without substance.
These are the next four pieces of advice for successful domain investment. If you'd like me to continue with the remaining points, please let me know.
9. Don't buy into "stories" when purchasing.
Phrases like "My domain has received offers for much higher prices than I'm offering you" or "This domain comes from abroad" are common. The more mediocre the domain, the more "real" these stories may sound. Remember, if a story sounds too compelling, you should be cautious when buying a domain.
10. Don't put all your eggs in one basket.
Just like the saying "Don't put all your eggs in one basket," domain investment carries the same principle. If you put all your investments in one category, and that category takes a downturn, you might end up losing everything. People's tastes and preferences change, so it's always riskier to focus all your investments on a single category.
These are the final two pieces of advice for successful domain investment. If you have any more questions or need further information, feel free to ask.
30 Nov 2023 05:18:23 PMIndustry Information
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Investment 29 Nov 2023 04:41:22 PM
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Industry Information 27 Nov 2023 04:06:05 PM
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Industry Information 27 Nov 2023 01:59:33 PM