Is Flippa Over Hyped?
As I mentioned in my previous post I have been spending some time on Flippa. Partly for fun and partly to see if I can raise some extra cash from sites and domains I just don’t think I will ever have the time to develop. I suppose I should be posting this over on the LGR Internet Solutions blog, but this is more of a personal project than a business one.
I have been testing the waters over on Flippa since September 2012 when I put CandyCaneFacts.com up for sale. Since then I have had a total of four auctions on Flippa. Two websites and two domains. One website and one domain sold, the other two did not. That does not mean that the auctions that sold made me any profit though.
For example my latest auction for GreatPhotograph.com. I have had that domain for a number of years and I always thought it was a pretty decent name. Two words and descriptive of what could be on the site. I probably should have kept the reserve on the auction higher, but I was pretty sure it would go higher than it did. Here are the numbers for that auction.
Final Selling Price: $100.00 Total Listing Price: $94.00 Total Profit: $6.00
Of course that does not include the number of years I have had the domain and have paid to keep it registered. If I include that in the price I have lost money. What I have learned from selling domains on Flippa, well that is PRICELESS!
Perhaps I simply over estimated the quality of the domain name but considering some of the crap that does sell on there I thought what I put up was probably of equal or better.
Yes I did say crap, because let’s face it there is a lot of crap on Flippa and a lot of it sells for ridiculous amounts. Don’t believe me check out this, this and this. See absolute s***, yet they sold for stupid amounts of money! If you don’t know why those sites are crap that is a whole other post. Heck you could make a website talking about the crap that is actually selling on Flippa.
Is Flippa worth using to sell your domains and websites? I think there are some developed websites that would sell well on Flippa but considering the cost of listing and closing I have to honestly say the hype about Flippa is over rated. Certainly some people are making money selling on Flippa if the crap I linked to above can sell, but the only people guaranteed to make money on Flippa is Flippa.
I will probably still browse Flippa occasionally simply for amusement to see what has been sold but I can’t see myself putting anything else up on there for awhile. I will probably make a list and post it on LGR Internet Solutions, I bet I will have better luck.
What has been your experience on Flippa?