GeekSpot education-driven sales cycle, from $500 purchase to $5,255 sale | 181
GeekSpot discountThe seventh article in our Behind the Sale series on the Efty blog is now live. I interview domain name investors who reveal all the information on a recent sale in this series. You’ll discover how they made their purchases and sales, how the talks worked, and much more.
Joshua Reason, a part-time domain name investor from the United Kingdom who has been in Los Angeles since 2014, is my guest today. He established BrandConsultants.com.
Tell me a little bit about yourself, Joshua.
In early 2014, while I was in my final year of college, I first began investing in domain names. As a student at Auburn University in Alabama, I was searching for an internet income. I bought and registered a lot of useless stuff in the first six months, and by the end of 2014, I probably had approximately 100 domains in all. After the first year, I eventually deleted or sold 80% of them to concentrate on higher-quality domains. I’ve slowly built up my portfolio to over 250 high-quality domain names, and I sell about two of them each month. I aim to diversify my portfolio across many areas (4L.coms, 3L.coms, Two-Word), as opposed to specializing in one. Invented Brandables, descriptive keyword.coms, and other Brandables. I am a 99.9%.com investor.
What is the name of the domain you sold?
After receiving a query through its Efty landing page, I sold GeekSpot.com. On GoDaddy and Afternic, I offer the vast majority of my names with a Buy It Now price, however I don’t include a BIN pricing on my Efty landing sites. I often increase the price on Afternic/GoDaddy and then quote the price indicated with a link to the marketplace listing when someone contacts me through a landing page. If we close the deal through Escrow.com, like we did with this sale, I’ll give you a discount on the purchase it now price that ranges from 10 to 20%.
What did you spend for the domain and how much did it bring in when you sold it?
It cost me $500 to buy it at GoDaddy auctions in March 2016, and in November 2017, I sold it for $5,250.
Can you describe the process used to negotiate this domain name?
There was a 2 week negotiating phase during which the customer was consulting both his team and myself since he claimed to be picking between several names. In the majority of my conversations, I strive to add value and bring up similar sales. The client’s initial budget was about $3000, but we were able to come to an agreement on a pricing that was closer to the BIN, which I put at $7,888. Escrow.com was used to conduct the transaction.
Thank you for revealing Joshua, Do you have anything further to say?
You may contact me at or on the NamePros forum; I’m constantly seeking to buy and sell domain names. I’ve sold a few names this year for myself and customers for mid-five figures while also brokering amazing domains like Mgmt.com.
Disclaimer: Efty is not in possession of user sales information. Therefore, we only provide data on sales that have been made public. Read about our complete governance here.