We love to hear exciting stories about sellers flipping websites on Flippa. While quick Buy It Now purchases and Private Sales are good, they don’t quite have the exhilaration that auctions offer! That’s why we were particularly enamoured with the auction for WeLoveWP.com five months ago.
Have a look at this video tour to see how the bidding action played out.
Five months after this great auction, we had a chat with Bidder 8, who, it turns out, is Brett Reilly, also known as WittyHost. As you’ll read below, he is still thrilled with his website purchase.
How did you hear about Flippa? Was this your first purchase?
I’ve been a loyal SitePoint fan for years, even before Flippa was created from the SitePoint Marketplace, and used to browse the website listings often. It was only after SitePoint Marketplace switched to Flippa that I got my first experience flipping websites, SocialMediaSEO.net. After the excitement over my first established website acquisition I continued to scour the marketplace for another potential investment.
Had you owned many websites before buying WeLoveWP.com?
I’ve owned about 30 websites over the past 8 years, all created by me, mostly niche websites that focused on AdSense revenue. I was always leery of purchasing a website from an auction after all the marketing scams I’ve read about, and felt it was too much of a risk. But after spending countless hours creating and optimizing these websites, I realized that there is a way to properly assess and buy a website in order to minimize risk.
How did you find this specific site?
I finally came across (in my eyes) a hidden gem, WeLoveWP, a Famous WordPress Design Gallery that features only WordPress websites users submit. I came across this website a lot, even before I started buying websites, when searching for WordPress design inspiration. I was shocked to see it for sale on Flippa!
I see you bid above reserve, then used the Buy It Now option. Were you concerned that someone else would buy the site before you did?
The bidding process was a little nerve racking but made it even more exciting when I was finally able to grab the website. It’s important to look at which type of bidders you’re competing with, because I think their reputation shows how serious they are in acquiring a website. There was another bidder who bid near the reserve price, so I quickly put a bid of $15,000 on the website. I then realized that the Buy It Now was only $1000 more, and thought it wasn’t worth it to lose this beauty of a website for so little money. If I’m going to put in a bid for $15,000 I figured I needed to step up and just secure it with the Buy It Now option.
What attracted you to this site? Existing revenue, user base, rate of growth?
What changes have you made since you purchased the site?
We also simplified a lot of the listings, and included a measure of viewer appreciation for each site.We’re very happy with the results from our changes so far and the vision is coming together faster than I expected, which also means my ROI will creep up quicker than a lot of bidders anticipated. I saw a few comments about the auction on another popular WordPress website, and one of them stuck out to me: “‘We Love WP’ does seem to be a bit overpriced at first glance”. I looked at that comment and it fired me up to show everyone what potential I envisioned when I bought the website. It was certainly not overpriced in my eyes, especially when you consider that we have almost doubled our monthly revenue in just 5 months.
Would you have bid on WeLoveWP.com? What kinds of questions would you have asked the seller? Let us know in the comments!