The .IO extension has become one of the most sought-after domain extensions on Flippa. In this profile, you’ll hear from Tim Mayeur, one of Flippa’s most successful .IO domain name sellers.
How did you start acquiring .IO domains?
I missed the .COM investment rush. Last year I entered into a position where I could invest, while at the same time branch-out & do a few start-ups. Like many others, I was searching for names I liked for my start-ups and all seemed taken in the popular extensions. The market had changed greatly and I looked at where the trend was going: .IO was it! It was an easy 2-letter extension where the letters are right next to each other on a keyboard (I & O). Simple brandable names were readily available in abundance. There had already been some great new Start-ups & Apps leveraging .IO. I quickly gobbled up over 100, learned about Domaining and never looked back.
Are you willing to disclose where / how you acquired them?
My focus was simple: I Google’d up 3 letter words, 4 letter words, 5 letter words etc — mainly scraping them from crossword websites. Looked at 2 character (letter & number) combinations and 3 & 4 number combinations. I would then run a 500 domain name search at a time and broke the list down to what I thought had highly practical and/or brand applications out of what was available to register. I also ran some basic appraisals to ensure they had good initial value.
What influenced you to sell, and why did you choose Flippa?
I had started to receive some offers through the service where I had them parked; though, that platform didn’t recognize .IO as [a generic domain extension]and it wasn’t the right audience for .IO selling. I noticed some .IO listings on Flippa and realized Flippa’s auctions tend to be more informative. So a place where there are many Domainers, interested in growing markets, was quite appealing to me. Instead of a no-name in an auction, Flippa really is a community — and actions that one user does, can positively impact others in the marketplace.
What were your listing tactics?
I tend to start at $1 opening bid and 30 days to give people time to research, as well as gather extra eyes. I like to use Flippa’s easy promotion to Twitter, Google+, StumbleUpon etc. If I know I have a great domain, I’ll pay to upgrade the service to gain exposure because the increasing price will cover the costs. I do like to play around with the “Buy It Now” by setting it a bit early on, then dropping it down. But dragging the auction out and setting it last second is fine too. Great tactics will create a little extra sense of urgency needed to encourage bidder participation.
Describe the due-diligence process you provided your buyers
The majority of what I’ve listed so far are domains with little analytics. Screen shot appraisals are important to show the value when bids are coming in lower than a higher appraisal. Detailed descriptions are important in order to show similar sales for what you’re offering and also showcasing what similar domains are currently listed for sale & at what price range. That way you show interested parties that the value has been established by the industry already. This is where Flippa’s marketplace comes in very handy. You can find great due diligence already available on listings, where it’s public information that can also be leveraged.
Were you pleased with the outcome? Did it meet your expectations?
Just sold my first 8 .IOs through Flippa with success! The one’s I considered of higher value than what I paid, the Flippa marketplace seemed to agree and those domains went for up to $905 each. I believe the market value continues to appreciate with .IO and I’m looking forward to many more sales!