From David Carter's blog :

"Some people seem to think that domain names offer a guaranteed route to becoming finincially secure, even rich.

They don't.

The reason they don't is simple. It's called people.

Some people, especially newcomers to the domain game automatically believe that just because they have stumbled on a name that isn't registered, that it must be worth something. A bit like finding buried treasure.

You see these names listed for sale every day on Ebay and domain forums."

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In the past year, I've seen many eBooks and internet infomercials aimed at obtaining quick riches with domain investing. I've also seen the horrible financial mistakes people commonly make purchasing horrid domains with no thought process behind them.

If you're going to purchase a domain, have a plan. Whether it's development or resell or buy-out: have a real plan. The domain industry no longer has room for  domains just for the sake of themselves. You cannot expect people to buy domains like fsiasdasdjha.com for millions of dollars.

Both Rich Schwartz and Dominik Mueller have good advice for anyone new to the domain industry.

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