Domain Investor Josh Reason recently ran a poll asking people – what is the most you’ve ever paid for a domain name? Here’s the results:
Since I voted I guess my vote won’t be anonymous but that’s okay. While I typically buy domains for under $1,000 I have paid more than $5,000 for domain names and probably will here or there in the future…but it’s not a regular thing for me.
Okay, back to the poll – 63% of people have paid less than $5,000 for a domain name, and as Josh pointed out, most people are looking to get five, six, and seven figures for their domains.
As I mentioned yesterday, people are trying to sell .ETH domains for $1.8M that they paid way less than $5,000 for as we speak. While some domain investors are grounded in reality and sell domains for realistic prices (like Mark Levine) there are plenty of people out there complaining that none of their names ever sell, and while they might have decent names, they’re looking for way too much for them.
If you buy a domain for $500, sure, selling it for $1,500 or $3,500 could be very possible…but expecting to sell that $500 domain for $50,000 or $150,000 isn’t very realistic.
I’m glad Josh ran this poll, it was interesting to see the results. It also brings up an interesting question – what multiple your purchase price should you expect to get for a domain? I aim for 10x or more, so if I buy a domain for $250, I’m more than happy to sell it for $2,500.
Everyone has a different multiple in mind, what’s yours?