Selling your Domain Name to Users Abroad
It’s not only tangible items that are capable of being exported overseas.
The beauty of the internet is that you can buy and sell almost anything
across borders. Now even domain names can be sold to potential buyers on
the other side of the continent.
As long as the domain name doesn’t have a local geographical extension, you
can sell it to would be buyers abroad. Unless, they intend to use it within
that location. For example, a shoe company in Italy looking to expand its
online presence to the South African market will have no problems
purchasing a domain name with the .za geographical extension.
Exporting your domain name; knowing the basics
Before you sell a domain name, you should know how to value it. Many
sellers fail to complete a sale in the market place because they overprice
their domain. Lack of information leads to improper pricing and loss of
opportunities. Unless your domain name is extremely rare, more-experienced
buyers would be bothered to make an offer on a pricey domain.
As a seller, you should therefore know how good your domain name is; what
price is most suitable, what suffix does it have? For instance, names with
the .com extension will likely sell quicker and bring more profit
than one with a .org extension. Hence, it is important to do your homework
and get your pricing right.
Sellers should also know how to recognise profitable domain names.
Dictionary names are profitable. Domain names with dictionary-singular
names are in huge demand over the web, and buyers are willing to give an
arm and a leg to acquire them. Names without hyphens are also good value-
even product-related names can earn you a handsome profit.
Where do you find buyers?
Since you are hoping to sell your domain name to someone abroad, your
strategy will vary from if you are selling locally. Say, you have your
domain parked with Freeparking.co.nz, and you want to sell to someone in the UK, you’ll probably start looking up UK auction sites.
If you know someone who deals domain names, it is advisable to contact them
rather than go through a middleman. You are likely to make more profit
since you wouldn’t be pay a middleman. Some popular international auction
sites include Sedo.com and Ebay.com. Of course you would want to choose an
auction site that is more streamline towards your target buy area.
Some advantages of selling to foreign markets
Targeted domain names (if your domain name is specifically for
businesses in that region)
Less competition from other local sellers
Better chances of finding a buyer
More buyers with higher purchasing power
When buying through an escrow site, ensure you verify their trustworthiness.
Engaging and negotiating with a buyer
When you have decided on a foreign marketplace you wish to sell in, work at
grabbing your buyer’s attention. Engaging a buyer is just as important;
buyers are attracted to sellers with a professional approach.
Therefore, it is important you have an in-depth knowledge of the domain
name you are trying to sell. Note your domain’s average incoming traffic,
as well as its expiry date. Inform your buyers of the domain name’s earning
power (if any). This will solidify the authenticity of its value.
Complete transaction and get paid
When you have completed negotiations, and agreed on an amount, it’s time to
transfer ownership and get paid. Each site process is different. Generally,
sites that sell domains require sellers to submit the authorisation code or Auth-Code
this will activate the transfer process.
Once the transfer is verified, the seller can move the funds from the
escrow account to their own personal account. When dealing with foreign
buyers, check that their payment system is compatible with yours.
If you are still new to the domain selling process, ensure you learn about
each important stage of the transaction to avoid mistakes.