There is a beauty to domaining. Anyone, from any place can become good at it if willing to do the research and put the effort. While domainers from the U.S. and Europe are pretty well known, we tend not to see the brilliant ones from the rest of the world.
Meet Abdul Basit Makrani. He is a successful domainer from Pakistan. This 30 something year old has had sales that is reportedly worth about $375,000 USD from a single domain.
Makrani is a family man. He is a full time domainer and works hard. Pakwired is an online news portal and had an interview with him. I will post the best parts from that interview below.
When did you register your first domain?
Makrani: I registered my first domain in last quarter of 2004 which was Traders.cc and I’m still holding onto that. It was registered solely for the purpose of development because at that time I had no idea about domaining.
What is the market value (both wholesale and retail) of the best domain names?
Makrani: That really depends on the domain. Like you’re asking for *best* domain, it definitely costs in 5-6 figures (wholesale) and 6-8 figures (retail) value. There are several factors including the buyer and/or seller’s demand, acquisition cost, time of holding that asset, market value, potential future value, etc.
What kind of domains are worthless and should be dropped?
Makrani: As of today’s market, almost all hand registration domains are worthless. Here I’m talking purely based on domaining perspective where you’re involved in buying and selling of domain names. A domain which receives almost no to zero type-in traffic must be dropped.
Which domains deserve marketing efforts to sell?
Makrani: Any high quality domain doesn’t require marketing and it’s better to put a landing page which says the domain is possibly available for sale so people can contact you directly. On the other hand, for all low quality domains, marketing is quite necessary in order to sell and survive in this business.
Which specialized broker should you contact to sell a specific domain name?
Makrani: I have worked with several and found Uniregistry.com aka DomainNameSales.com brokers the best ones. In short, they sell your domain like they are selling their own domain and won’t look for their commission while trying to sell your domain.
What type of domain names you should consider buying when you’re starting out?
Makrani: I would strongly suggest to read, read and read a lot before invest a single penny. Best place to start finding out domaining world is NamePros.com and Domaining.com where one can see plenty of domain bloggers sharing tips, experiences, sales, ideas, etc. For past and recent domain sales, you can always check www.dnjournal.com/domainsales.htm and www.namebio.com
Once you are ready and confident, start off with GoDaddy Auctions by buying closeout domains which will cost you $15-$20 per domain. Don’t invest in high price range domains because most probably you will end up with no money and everything will be into domains which you cannot sell on instant basis even for the price you paid for it.
As a successful domainer, what do you consider to be your essential tool/tools?
Makrani: I use Domain Name Analyzer Pro software which I have been using for over 10 years and I really cannot operate my business without using it. This is must to have for anyone seriously interested in domaining.
What has been your biggest sale to date?
Makrani: My biggest publicly reported sale was Symphony.com which I sold for a whopping $375,000 which anyone can read in detail here.
What are your most favored sites for hunting domain names?
Makrani: GoDaddy Auctions, NameJet.com, DropCatch.com
What’s your advice for a new investor stepping into domaining in Pakistan? Is it worth it?
Makrani: For anyone who is seriously interested in becoming part-time or full time domainer, one must read a lot of news and articles, go through tools and relevant websites, seek advice from the successful domainers, and we have plenty of them here! Give at least couple of months to read. It’s a proper business and not a lottery ticket which one may think of buying and be able to sell at a 5 or 6 figures (USD).
It’s still a great time to invest into domains and I personally see huge potential in this business for anyone who is willing to start domaining career in 2017. In my humble opinion, domaining is still in it’s early stage and yet to grow and blossom.