Help with domain name buying and selling?

[kyle]

I am thinking about buying domain names on GoDaddy Auctions and then reselling them on sedo.com
I was wondering what all was entailed in this process. Here are a few guide questions:
Is this possible? (to buy on one website and sell on the other)
When I click buy how exactly is it transferred to me?
How do I transfer it to somebody else when I sell it?
Are there any fees other than membership fees, and purchase fees that I need to watch out for?
Any other advice in this process?

[UncleP]

"Is this possible? (to buy on one website and sell on the other)?"
Yes of course it's possible, people do it all the time.

"When I click buy how exactly is it transferred to me?"
You need a GoDaddy account, then it's transfered into your account.

"How do I transfer it to somebody else when I sell it?"
You transfer it to their GoDaddy account (easiest and free) or give then the transfer 'EPP' code (available from your account, they pay to their new registrar).

"Are there any fees other than membership fees, and purchase fees that I need to watch out for?"
Yes, transfers are free between GoDaddy accounts but Sedo charges a commission, the minimum is around $50 or so then it's a percentage of sales price, check their website for details.

"Any other advice in this process?"
Honestly, it's not worth the bother and is likely to cost you a lot of time and money, it's something best left to professionals that know what they're doing. You could be out of pocket by large anounts of $'s. Something that is not for noobs or the faint hearted and light of funds.

Domain names are only worth something to those that want to buy them, it's a specialist market that speculators can often lose their shirts on. If you want to make money with domains then register new names, build websites on them, get traffic and earnings and then you have a better chance of selling them for between 12-24 months revenue. It's still not guaranteed and there is work involved but it's certainly better than spending money on overpriced names and trying to sell them again with added charges to cover your extra costs, that's just asking for trouble unless you've got more money than sense (no offense meant).

Seriously, I would advise against it. By all means learn all you can by studying the subject, but there's a lot more to it than you think.

[Zh]

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[moataz]

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