That being said, many things have changed over the years. The days of MFA and quick flips are mostly gone. My advice to those new to domaining and wanting to give it a try is to take it slow, do your research, and if you do purchase a domain with the hope of turning a healthy profit - put some real time into it and build something useful. That way it's easier to monetize and easier to sell.
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GoDaddy’s domain auction space serves as a “marketplace” for buyers and sellers to get together and make deals. When a domain expires, it typically goes right back to the registry. If it’s a valuable domain name, however, registrars will try to sell it through auction, and buyers are always eager to capitalize on potential deals. Participating in a domain auction can be a nuanced business, so take a look at our Auctions FAQ page for more details on the process.
Referring domains for anchor phrases usually reveals similar information. What you really want to look out for is whether or not the site has been picked up by a spammer in the past. A lot of times these expired domains were dropped, picked up by a website owner who then tried to rank it for keywords like Viagra, Cialis and whatever. You obviously don’t want that kind of domain.
Domains are nonmaterial goods. When sold, the only transaction taking place is transfer of domain rights from one user to another. Barring any form of copyright or trademark violation, virtually any domain name can be bought or sold. Generic domain names, such as car.com or computer.com, are not legally protected and can therefore theoretically be reserved by anyone.
There's a lot of guesswork that goes into domain name investing. It's not enough to purchase domain names that are currently popular. Just like a stock, coming too late to the game won't be profitable. You have to think of the future, instead. What domain names might be profitable in the future? Is there a new product or service that may become a huge hit? Where is the future headed?
Using the keyword search feature you’d also be able to familiarize yourself with how much domains typically cost on average in a certain industry or niche. Even better, they have an addictive little app called “The Domain Game” available for iOS and Android. They basically give you a domain and you try to guess whether it sold for three, four, five or six figures. You get points for each correct answer and lose points for incorrect ones. You do this for a while and you start to see patterns. Your brain starts connecting the dots and you get better it. Now you’re ready to go out there and scout some domains!