First, recognize the fact that there is such a thing as a premium domain. A premium domain commands more money than ordinary domains. So what is a premium domain and what are the differences?A premium name is something that is in demand. So any name that means something is likely to belong to the premium category. For instance, a name like “eshasha” is not considered to be premium because it’s a nonsensical word. It is only valuable if people know about it, and it represents a brand. Now consider the name “real estate agent”. This name has a keyword phrase in it, and it’s easy to remember. It’s likely to rank well in the search engines because of the keywords in the name. As a result, you can expect this to be a premium name. A name can also be considered as premium if it is short and easy to remember.Many domain brokers and traders know the value of premium names, so they do everything they can to own these names. They then sell them off in the domain name market to make a profit.Unfortunately, since the demand for such names are high, the competition is also fierce. Just check out a domain auction marketplace. Sometimes, you will see fierce bidding wars going on between several parties. As a domain broker or trader, a bidding war is the last thing you want to experience. So how do you profit from a domain auction?Tip 1: Avoid bidding wars.Don’t get into bidding wars with your competitors. At the end of the auction, there are no winning parties. Only the domain seller wins. When a bidding war occurs, the price of the name is driven upwards. Sometimes, the price becomes so outrageous that you can’t make a good profit out of the name. Therefore, never let the ego get in the way when participating in an auction. The only way to profit is to keep a cool head at all times. If the price doesn’t make business sense, stop bidding! Tip 2: Don’t bid too early.Don’t reveal your trump cards too early in the game. You probably have a maximum bidding price at the back of your head. If you start participating in the bid too early, you attract unwanted attention from your competitors. The more bidders participating in the auction, the higher the price will be. Being aggressive in a domain auction just isn’t beneficial.Tip 3: Grow your portfolio of clients.Business is about margins, and buying and selling domains isn’t all that different. Grow your portfolio of clients, and if possible, try to acquire high profile clients. For instance, instead of just going after individual clients, try to go for corporate clients as well. You know that they have the money to pay for the domain names. So you can afford to bid higher for the premium names. The higher you can bid, the more names you can acquire, and the more money you make.
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