Flippa gets a lot attention for the full fledged digital businesses that are bought and sold on a regular basis, but more than that, Flippa is a place where people find incredible success both buying and selling domain names.
Below are a couple of quick success stories for a couple of our favorite domains that have sold recently.
Earlier this year, DiveBars.com was sold on Flippa for $2,000. Here is the seller’s testimonial:
“I purchased the domain name DiveBars.com from an online auction for $1,300 and re-listed it on Flippa the next day. After only holding the name for about 4 weeks I had an offer from a Flippa buyer that provided me with a 54% profit. After accepting the offer the new owner and I struck up a friendship on several topics unrelated to the domain world.” – Mike
4 weeks from buy to sell with a cool $700 profit. Nice!
In December, the domain name Rate.ca sold on Flippa for $75,000. Here is how the sale played out.
The seller created a classified domain listing for the domain name back in November 2016 with a minimum offer of $74,999. Over the years, the listing received little interest. Then in June 2019, Flippa’s domain manager received an email from a domain broker inquiring about the domain name on behalf of a client. They saw the Flippa listing and reached out directly for help connecting with the seller.
Since the listing was almost 3 years old, Flippa emailed and called the seller to confirm the availability and price of the domain. The buyer’s broker submitted an initial offer of $30,000, which was quickly declined by the seller. Over the next 5 months, Flippa kept in touch with the buyer’s broker and the seller. The buyer’s broker was able to get the buyer to increase their offer to $60,000. The seller held firm on their $74,999 price. In November, the buyer ultimately agreed to the seller’s price. Flippa initiated the escrow transaction and it processed smoothly.
Both buyer and seller were pleased with the transaction that was 5 months in the making and 3 year old listing. This transaction is a testament to the success of working with domain brokers, who take the friction out of the process for their buyer and seller clients.
Rate.ca Seller Testimonial:
I originally registered the name in about 2001 at a domain release when CIRA did the final big purge of their system. It had been publicized. They put out a multi-megabyte list of all the domains, short and long, good and bad, that would become available and the date of their release. Many people had signed up to compete at different registrars. At that time there had not been many great .ca domain sales, but we knew there was potential, and thought that single-word domains probably had the highest potential.
At first Rate.ca seemed as if it could be used as an opinion or polling website where people could visit to rate one thing or anything and everything. In the last 20 years, as the internet matured, it became the place to go in order to shop around and get a great rate on loans, mortgages, insurance, etc.
In 2016, when GuaranteedRate bought Rate.com for $725,000, I knew I had a winner. Although they did not have a subsidiary in Canada, Canadians used the internet just like Americans, and there were already some established competitive Canadian rate sites. It was a proven business concept. I set the price at about 10% of the Rate.com selling price, because the population of Canada is about 10% of the American population.
I had someone contact a few potential buyers, but didn’t receive interest. So I listed the domain for sale on Flippa.com. They say motivated buyers are the best kind; I waited patiently until a buyer was motivated.
One important benefit of the buyer working with a broker like Amber (a Flippa employee) was that she was able to screen the potential buyer. Without revealing his identity she helped me take him seriously when I was not inclined to do so. I had wanted to sell to an end user and I had incorrectly guessed he was a domain reseller.
The process was not as fast as some might expect, but I’d once read a story about a much larger domain sale that had a two-year process, so I did not rush it.
Find A Great Domain Name
Looking for a great domain name for your business? Trying to buy a domain as an investment? Take a look here to see some of the best that are currently for sale on Flippa.