Many of us are used to registering a domain name, as soon as they have a great (or not) idea for a new business, product, project, blog, or side hustle. But those ideas often remain just ideas, and the domain name will end up lying dormant in your account for months, years, even decades, alongside a growing family of other unused domain names.
Of course there are plenty of other reasons you own unused domain names: you retired or closed a business, you decided to stop updating your blog or personal site.
In that case, you're probably wondering whether those domains have value to someone else and, if so, how you can sell your domain names. Here's how to do it.
Determine the value of the domain name.
Before selling a domain name, you must first determine its value: easier said than done since a domain's value can range from a few euros to six- or even seven-figure sums. The universal answer is that a domain name is worth whatever a buyer is willing to pay for it.
Fortunately, there are certain valuation techniques that can give you an idea of the domain's potential value.
1. Start by studying comparable sales
NameBio.com is a resource for finding recent domain sales and searching sales of domain names similar to the ones you own. This site offers a historical database containing $1.5 billion in sales and is updated daily to show how many domain names have been sold across a number of different marketplaces. Use it to your advantage to see how your domain compares to recent sales. Use filters for length, keywords and of course the extension (like .com, .net or .io) to narrow down the list of sold domain names similar to yours.
2. Use domain appraisal tools
Another way to get an indication of your domain's value is to use a domain appraisal tool such as Estibot or GoDaddy's tool. Both sites rely on algorithms to calculate a domain's value based on many attributes such as domain length, extension, number of words, pronunciation as well as SEO-related factors like keywords, search volume, monthly searches and cost-per-click. Keep in mind these appraisals are automated and can never account for everything, because a domain's value is not a scientific absolute.
3. Ask an expert for their opinion
If the two previous methods both give a high value for your domain, you might consider asking a trusted domain broker for an appraisal to ensure you have priced your domain correctly. You may also consider sharing your domain in the free domain appraisal section on NamePros, a forum for people who actively buy and sell domain names to make a profit. Be prepared for frank feedback, but keep in mind that not everyone who comments is necessarily an expert.
Set the price of your domain name
Now that you have an idea of your domain's potential selling price, it's time to decide on the right pricing strategy. Unless you have a top-tier domain that should sell for a very high price, it's recommended to market the domain at a realistic price.
Domains with a buy-it-now price are much more likely to sell than domains listed as "Make an offer" or via an auction system. A buy-it-now price creates a sense of urgency for buyers: if they don't buy now, someone else will, and they risk missing the chance to own the domain.
If you own a highly sought-after domain and you enjoy the negotiation process, there are several reasons to choose the "Make an offer" approach instead of setting a fixed price for your domain. Receiving offers on your domain lets you perform due diligence on the interested party and discover their plans for the domain and how much they are potentially able and willing to pay to acquire it.
Place a "For Sale" landing page on your domain name.
When someone thinks of a domain name and wants to know if it's available, what do they do? They type it into their browser. If your domain doesn't clearly display the message "this domain is for sale" and a potential buyer can't contact you easily, you're missing the best opportunity to sell your domain.
A “For Sale” page lets any visitor know immediately that your domain name is available to buy and shows how to contact you. There are several ways to create a “for sale” page for your domain: If you have an existing website, you can simply redirect each domain you own and want to sell to a page on that site with an inquiry form. You can also use a “for sale” landing page directly on the domain itself.
Be aware that when you sell your domain through a marketplace, you must pay a commission on the sale, which can range from 10% to 30% of the total sale price, even if the buyer came directly via the domain’s page.
List your domain name for sale on marketplaces
If you’ve made it this far, you understand the importance of capturing direct domain visitors with a landing page, but that doesn’t mean listing your domain on various marketplaces won’t add value.
Most major marketplaces have regular buyers and a distribution network that partners with other websites (such as registrars) to make your domain available to potential buyers worldwide. Here are a few of them.
Sedo
Sedo has existed since 2001. With more than 18 million listed domains, it is one of the largest domain marketplaces in the world. The site receives about 2 million visitors per month, and it also promotes your domain across a large number of partner sites. Listing your domain is free, but you pay a 10% to 20% commission when your domain sells.
Afternic
Founded in 1999, this platform has more than five million domains available for sale and over 75 million domain searches per month. This marketplace is owned by GoDaddy, which gives it a considerable advantage over similar sites. When you list your domain on Afternic, it appears as a premium domain when people search for it on GoDaddy.com. Listing a domain on Afternic is free but you pay a 20% commission on a successful sale.
BrandBucket
If you own a domain that isn’t necessarily descriptive but would make a good brand name for a new company, product, or service, BrandBucket might have the right audience to help you find a buyer. This marketplace is selective: each domain must go through a submission and approval process. Once approved, your domain is listed with a custom logo and description that help potential buyers get a sense of it. BrandBucket charges a $10 fee to list your domain and requires exclusivity, which means you cannot sell your domain elsewhere while it’s listed there. With a 30% commission, the fee is high compared to other marketplaces.
GoDaddy Auctions
GoDaddy Auctions is GoDaddy’s secondary marketplace for domains. The marketplace is very popular with individuals and businesses looking for exclusive domains and near-expiration names to enrich their domain portfolios. The marketplace is visited by 900,000 users each month and, thanks to GoDaddy’s status as the world’s leading domain registrar, you’re guaranteed high exposure for your auction listing if your domain has value. Site membership is paid ($5 per year) and when you sell a domain, the commission is 10% to 20%.
NameJet
NameJet is another secondary domain marketplace company that runs a popular auction platform among domain investors. The site has a large number of buyers and moves a substantial number of domains each day. Not everyone can list domains for sale on NameJet, but the site offers an online option to submit your domains for an upcoming auction. To provide the best quality domains to their buyers, they don’t auction every submitted name; your domains are forwarded to and reviewed by the NameJet team. To submit your domain, you must first have an active account. The commission on a successful sale is 15%.
Our tip for selling a domain name
If you need help transferring your domain name, buying it or selling it, don't hesitate to hire a freelance web developer on Codeur.com.
