My premium domain purchase and competition announcement

Written by Mike

Topics: Domains, Websites

Last year I wrote about purchasing a premium domain. The domain I bought was australiaforum.com and I paid $2,500 for the domain. The domain was initially listed at Buy Domains for over $4000. If you compare it with some of the other sales on DnJournal, I think it was a good buy. I think chinaforum.com was sold for $3,500.

I am sure there are plenty of people reading this that think I might be crazy, but the domain fits with something I want to do long-term. I initially installed Joomla on the domain with the Simpleboard component. Even with zero advertising, I got a couple of people posting (and a lot of spam). I then thought since I paid so much for the domain, I should at least spend money on buying proper forum software and decided to go with vbulletin. I am in the process of getting a custom skin made up for the site.

My inspiration to run a forum came from what people like Lee Dodd and Tyler Cruz. I have read so much how difficult it is to monetize a forum, but these guys seem to do pretty well. If the site is successful I am sure I will be able to attract advertising from migration, moving and tour companies, or I might be able to use it to promote my own business (whatever that might be).

I really wanted to buy an existing site and spent a great deal of time looking for potential sites. It is just not easy like it was a couple of years ago to buy a developed website – basically before anyone knew about Adsense. I also wanted to have a least one quality domain in my portfolio.

To kick off the site I am running a competition on the site. I can’t imagine too many people entering, so you have a good chance of winning.

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5 Comments Comments For This Post I'd Love to Hear Yours!

  1. sipbkk says:

    I was the first to post, where’s my prize?

    🙂

    I really do like John Howard!

  2. Khyron says:

    Heh. I’m in the process of selling my domains. I have 6 beyond my primary one (which I’ll never relinquish). I just had one appraised for 14,500 USD. These domains have just been languishing for years, and one of them could have been heavily monetized. (I have them parked with Sedo.com now and the crown jewel has generated 95% of the revenues.)

    I wish I had thought of this earlier, but if I can get good resale values on these, I’ll give them up in a heartbea. Otherwise, I’ll just collect the rents from parking for as long as I can. I had actually planned to develop all of these as websites, but things never worked out in that way. I never had the time.

  3. Mike says:

    >> I was the first to post, where’s my prize

    I will decide next month, but currently you are in the lead 🙂

  4. Forums are really different from blogs – the one thing that is nice about them is that a lot of content can be created by others when you start getting members. it does, however, take a lot of effort to get those members. If you have the dedication to blog for a couple of years, you have what it takes to get a forum going. Best of luck with it – it is a good name.

  5. Mike says:

    SA > So far I am happy with how things are going with the forum. I think running a competition is one way to get people to register and start posting. I am taking a very long-term approach to the site.

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