Despite economic turmoil, I had one of my biggest sales months ever.
Domain parking revenue is down. The world economy is on the brink. The Dow dropped another 350 points today.
Yet for some reason, I had one of my top three months ever for domain sales in September. Those include sales at the Aftermarket.com auction and sales to someone trying to diversify his investment portfolio into domain names. The TRAFFIC auctions were fairly successful, too.
Earlier today I read a blog post from good friend Elliot Silver about how he’s not aggressively buying domains anymore and is turning his attention to maximizing his current portfolio. That makes sense. He needs to properly monetize some domains that he undoubtedly paid a lot of money for (e.g. FrenchRiviera.com and Burbank.com).
There are plenty of people in Elliot’s shoes who have seen sales drop and are tightening ship. I’m doing the same thing — not buying as much, but keeping my eyes open for bargains. Warren Buffett has a keen eye for buying low and has thrown $8 billion into the hat over the past week. He has a shrewd eye for deals, and so should domain investors.
OK Andrew, so what’s the point? Well, my sales last month were strong and perhaps it was just an anomaly. But stay focused on the underlying value of domains, keep your eyes open for deals, and work to maximize your portfolio, and you’ll do just fine.