Falling in love with domain names
One common mistake most beginner domainers make -- is that they fall in love with their investments.
If you are a gamer -- you would start hand registering domain names with the titles and character names that you have played as a child. Any video game colloquialism or term would be picked up and registered with fervor.
If you are a plumber you would likely see that new and absolute killer toilet seat name you've been dying to get your hands on and snap it up immediately.
It's human nature to choose familiarity -- but in the world of domaining this can sink a portfolio.
Especially if you fall in love with your investment.
A domain can quickly become a bad girlfriend or boyfriend when it sits on the shelf of your registry for years without any potential sale value and sentimental value takes hold. This could lead to very costly mistakes where the money could have been spent better invested.
Sometimes this can lead to putting an unnecessary or erroneous value on domains that do not have a premium sale value.
Other times -- this will lead us to go back and forth between deciding if we are going to begin a project on the domain and come back to it years later with no progress.
In either event -- you are actively missing sales.
Some of the highest rates of returns come from successful investors who have broad scopes and range when they deal with acquisitions. They actively research and notice trends and future projections of products and technology that would be releasing in the future and try to predict what would be wanted and desired for future use.
I encourage every investor to look outside of the box of what they are interested in and occasionally look into industries that you are unfamiliar with to expand the scope of your portfolio. A good place is to start looking at previous sales history at www.namebio.com.
The eyes of an investor are not the same as looking at things through the eyes of an end-user.
Sentimental value and personal value towards a domain does not equate to a sale.
18 May, 2020