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Sunday, July 10, 2011

WWMI sells BoatingIndustry.com on Afternic; The most puzzling domain sale leaves me questioning domaining

As you may already know, WWMI sold BoatingIndustry.com for $25,000 on Afternic. The domain is far overpriced. Afternic evaluates the price of domains to protect the integrity of their domain name sales platform. In no way, shape or form is this domain even worth 10% of the sales amount.
 
CampingWorld.com (registrant holder Affinity Group, Inc) paid $25,000 to acquire BoatingIndustry.com. This domain name is now pointed to Boating-Industry.com, which runs the popular Boating Industry magazine. The domain stats are mediocre at best, especially when it was originally registered back in 2002. Afternic has notified me to reduce the price of several domains that are worth far more than the domain they allowed to sell at multiple times its worth.

Afternic claims they evaluate domain prices to protect the integrity of their sales platform (check e-mails below) What I don't understand is how they let an overpriced domain such as BoatingIndustry.com to sell for $25,000 (visit link on the bottom - you should sell on Afternic) There is no way to justify the sale. I consider BoatingIndustry.com the most overpriced sale of 2011.



In my opinion, the main reason the owner sold BoatingIndustry.com to CampingWorld.com is because the camping company has deep pockets. TheDomains blog tends to complain about sales they should have maximized. Furthermore, one end-user who purchased an overpriced domain from WWMI admitted they made a mistake. They noted the purchase as a learning lesson. What puzzles me is that WWMI wanted far more for the domain.

In my opinion, WWMI and Afternic sell overpriced domains to take advantage of the end-user. End-users don't stand a chance in the face of these companies. These companies have a used-car salesman mentality, which makes it hard for average domainers to function without experiencing conflict when contacting an end-user.

In my opinion, CampingWorld.com by far overpaid for BoatingIndustry.com. The domain's stats are unimpressive. The keywords are not even searched 1,000 times per month. The site barely produces any quality traffic. I will admit, IMO, that this domain is possibly one of the most overpriced sales of the year.

IMO, WWMI and Afternic seem to focus on maximizing every sale to the fullest instead of running a fair system. IMO, as an end-user, you can't expect to buy a domain from these domain companies at a fair price. Be prepared to overspend to acquire a domain. 

In my opinion, they will take advantage of the end-user until they get the price they want. I could never receive a fair price for WritingIndustry.com and ResumeIndustry.com (used as examples only - I know what domains are good) The mindset of these two domain companies make me want to give up on domaining right at this very moment. It seems that you need a vulture mentality to compete in the domain industry.

In my opinion, Google has ruined many WhyPark domains to reduce their competition. Google, WWMI, Afternic, Sedo, and other companies monopolize the domain and online industry, while us domainers are put in an inferior position to struggle like unemployed workers. Overpricing domains and eliminating traffic influences our ability to compete in a cutthroat business.

The BoatingIndustry.com sale proves you can sell your domains at whatever price you want as long as the end-user believes in the ballooned value. After learning of the sale, I left a comment noting I would not waste a dime buying the dot net, dot org and dot co. Moments later, boatingindustry.net and boatingindustry.co were hand registered.

I would like to meet end-users who don't complain about spending money on keywords that represent their top products and services. Every week there are questionable domain sales, though none have been as overrated as boatingindustry.com.

I respect TheDomains blog owner for maximizing his sales, but it does nothing to improve the quality of our lives. The domain offers he rejects sometimes infuriates end-users to point in which they are unprofessional to average domainers. The WWMI owner already overcharges internal tourism bureaus on visit (city or country) dot com domains.

IMO, a Sedo member also took advantage of Service4U.co.uk to sell Service4U.com at $13,000 (another overpriced domain). Too bad I couldn't sell TaxiCabSales.com  (used as example) to a UK company that runs TaxiCabSales.co.uk.

Essentially, popular websites make the mistake to prolong a business decision, They wait to acquire a domain name such as Service4U.com, VisitBerlin.com, and BoatingIndustry.com. These companies build a brand on the web; therefore, realizing they need to secure the dot com site to compete, gain traffic due to spillage to the dot com, and to establish a competitive advantage. The million dollar question is why do these companies wait to pay a fortune later.

In my opinion, these companies utilized poor decision making to pay a fortune for domain names not worth the money. Visit city dot com domain names are worth money because domain owners skyrocket the value. Domain owners reject offers until the right price is reached.

Do you think VisitBerlin.com is worth $230,000? Remove this former domain owner's VisitStockholm.com high 5-figure sale from the equation. In result, you have two travel agencies in the specific regions which overpaid for overrated domain names. This domain owner will note that he refuses to let VisitTurkey.com for anything less than a quarter of a million dollars based on his two overrated visit city dot com sales. 

http://www.thedomains.com/2011/04/12/yesterday-before-noon-i-turned-down-500k-in-offers-domaining-is-like-deal-or-no-deal/

TheDomains owner bases his visit city or country domain name prices on population. This domainer even compared his VisitBerlin.com to VisitFlorida.com. There is no comparison between the two domain names. Florida is far more visited than Berlin. Read the comment Mike Berkens left on his formula to set the price of his former VisitBerlin.com domain. Needless to say, you will find this price formula very interesting.

http://domainingmojo.wordpress.com/2010/12/31/why-would-a-buyer-make-a-100000-offer-on-visitberlin-com/       

Sedo price suggestion system (you be the judge)
 http://domainnamemojo.blogspot.com/2011/01/sedos-slow-domain-name-verification.html

Indeed, WWMI's BoatingIndustry.com sale is another domain that leaves me questioning whether domaining is a monopoly with no real opportunity to succeed. These domain blogs gloat about their sales. They have followers that do little to better their position.

At the end of the day, ask yourself if you made a domain sale or purchased a good domain name due to reading an article on one of the elite domain blogs. Thanks for reading.

Link to visit (check comment section)

http://www.elliotsblog.com/afternic-sells-close-to-a-half-million-in-domain-names-last-week-9902

p.s. I never implied that Afternic sets the domain prices. They monitor what domains are listed in a buy-it-now listing to ensure integrity. IMO, the buyer drove up the price to buy the overpriced domain.

http://domainnamemojo.blogspot.com/2011/07/boatingindustrycom-sale-in-dummy-terms.html

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6 comments:

  1. I'm pretty much a noob in the domain name game, but I don't think that name is overpriced at all. The name is 2 descriptive words that describes its service perfectly and It's easy to remember. Domain stats isn't the only thing to take into consideration, I don't even look at that really and I don't think Afternic does either. I have a few names with them - one of the names they suggested I price at $30,000 or less and another name $20,000 or less with the first one being the domain name with the better stats :/

    ReplyDelete
  2. I found your post always interesting..Thank you..

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  3. I can go on about the boating domain all day, but it does not interest me. Top domainers make good sales since they are known to overprice their domains. They have the money to retain the domains until they get the right price.

    I developed a high search movie site that scored 3,000 unique in the first week and made good revenue. You can find good domains. End-users should realize they need to be more intelligent instead of making bad decisions.

    ReplyDelete
  4. @Yankeez,

    That domain name was way overpriced. The company didn't need to acquire the domain. As with many end-user sales, the company is desperate to acquire a better domain of their business name when they could have made an offer years ago or developed the website with the unhyphenated domain at the beginning.

    Their readers are already familiar with boating-industry.com website. It was a bad deal like many of the overpriced domains the company has previously sold (IMO) Domain stats do matter when high search keywords can generate instant traffic as well as build a major brand. Many end-users turn dow high search domains because they want specific domain stats. Some are smart buyers because they understand the domain industry.

    I previously owned many descriptive domains that have sold. Many of these domains are better than this domain name. I could never ask the price this domain received for one name.

    Since you claim to be a noob, then visit nOObWorld.com to read more about domain tips. That boating domain oversold.

    The end-user didn't need to pay $25,000 to acquire their company name. End-users are unintelligent buyers. End-users lack competitive advantage to make smart decisions. It's not my money to lose so they can overpay to acquire domains.

    Descriptive domains are easy to register without having to fork out a ton of money. NewYorkStrippers.com is another domain that oversold. In my opinion, the domain is not worth $1k rather than $5K.

    I don't make too many mistakes with buying domains. End-users should learn to make better decisions to avoid costly mistakes. We see many stellar domains drop, only to sell later at record prices to make the domain registrar a fortune.

    An experienced person can acquire a decent, descriptive dot com domain on the cheap to develop into a popular brand. The only reason the domain sold for $25K is because a company who made the name popular had to pay a high end-user price to a person who thinks too highly of his domain names. Stats do matter, though they are not the main buying factor.

    You can still find 4-5 character dot com at good prices without high search value and domain stats. Good Movie and GEO city jobs domains with great stats are readily available on the drop and at auctions.

    That boating domain was overpriced. The company probably realized it was time to acquire the better domain. They wanted to pay a high price to get the domain like most end-users do when dealing with the domain company. The boating website was possibly the only end-user on the face of the Earth who would pay $25k. That's their money to spend. Good for them that they paid $25K for an unappealing domain name.

    Upcoming-Movies.com is ranked high. They don't need to own UpcomingMovies.com, which only generates less than a few thousand unique. Upcoming-Movies.com is smart enough to not go after unhyphenated domain. I'm sure the owner wants a fortune to sell that domain name. The hyphenated domain generates 20 times more traffic as a developed website.

    I suppose it worked out for the boating company since their site is Alexa 350,000 and 3,500 unique per month. The domain's success is based off of their brand and hard work. Still not worth the price paid to own their name.

    I have enough experience with domains to know a good and bad deal. I own one domain that is a 7 year old 4 character dot com abbreviation of a big city. It is also a top software company's abbreviations who are competitive chipmakers. They are a traded company on the NYSE. I doubt I could get a deserving price for the domain. I will retain the domain to get a good price in the future. No hurry to sell cheap.

    When you purchase gas, you know it's too much to pay $1 more off the freeway. You can find better gas prices driving a half mile off the road. You're not going to pay double or triple the price to buy a used vehicle.

    Good luck on your domain journey.

    ReplyDelete
  5. There are many good domains that are easy to remember and could be purchased with super great domain stats. You can purchase these old aged domains at CAX.com at a great deal.

    These are generic keyword domains that can make you good revenue. Why overpay for a less appealing domain? Good domains can be acquired at excellent prices.

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