Get Rich? (6.Viewing)

Does anyone expect to get rich from ,ca?
(from namebio)

I will let you know from personal experience that there are a lot of unreported sales.

My first thought too, so many domain sales go unreported in all extensions, and probably the number and dollar amount dwarfs what does get reported.

Personally I don't expect to get rich in .ca, what it has done for me is be a good side business to bring in extra income. My main work is in the natural resources industry which is notoriously up and down, and goes through recessions like in 2008-2010 period. I've had times when domain sales and even some social media username sales have really helped out with the family finances. Having a hand in the 'old' economy and in the tech economy has actually been pretty good, they complement each other as they have never usually both been down at the same time in the past 20 years.

That said, I do think it's possible to get rich in .ca, if by that you mean score a big sale or bundle of sales to really move the needle in your life (eg: pay off a mortgage or big debt, money towards buying a house or car, taking a dream vacation, more peace of mind for retirement, etc). All depends on what everyone considers rich, but a big domain sale is always possible if you have the right domain and the right buyer comes along.

Very honest and insightful!

Danto said:

Does anyone expect to get rich from ,ca?

Click to expand...

I don't think it's possible to truly "get rich" in .CA by starting right now, and anyone making any real money is creating a large portion of revenue from premium domains they bought low years (or decades) ago and have been holding for a long time. The .CA market is limited to Canada and is tiny, tiny, tiny - like microscopic - and sales can be extremely random. Plus, the Canadian companies are notoriously cheap.

I view .CA investing as as a challenging side-business that (with a high level of effort and skill) can create some level of cashflow. It used to be relatively easy to buy quality domains for virtually nothing and then turn those in cash, but those days are long gone. Now if you want a good domain on the TBR, be prepared to pay, pay, pay and then pay again.

Back in the day, when you could hand-register premium domains, the investor system worked quite well, but to me (and I have post-grad designations in Finance and Accounting), the numbers in 2023 no longer make sense on a 1-to-1 domain basis. Lately, wholesale prices on .CA have been going through the roof and IMO they are currently at a point where it's extremely difficult to turn a profit using only newly-acquired domains. Due to this I foresee a major .CA fallout in the coming years as more people really start figuring out they are not making money.

I still play a bit because I sell an old domain and then use that money to overpay for TBR domains that I really like, just to get them. It's not smart business, and I know this, but when in Rome... But that same trick is tough sledding for newcomers who don't have a existing portfolio that is creating wealth based on the low wholesale prices of 2000-2015.

If you want to make any real money, concentrate on .COM or some of the open ccTLDs (that are effectively gTLDs) displaying growth like .IO or .AI. Then the buyer can be anyone in the world and that really opens up your possibilities. And if you work at it, you can still pick up good stuff cheap, like quality 2-word .COMs and short LLL or 1-words on open ccTLDs. You can also experiment more with fads like GPT, AI, etc. where those are dead in the water unsellable in .CA.

But that just makes it a bit easier to make a few sales, not a "Get Rich Quick" plan of merit.

Take the example this week of backyardsuites.ca selling at Sedo for $2000 US. Sometimes I look at those kind of sales and think If I could get that price for each of my domains of similar or better quality, yes I'd be rich! Even getting two sales like that per month makes a difference. Just checked and that domain is only registered in .com and .ca, nothing else! Despite the slow market lately (at least to me), the positives are that online technology and commerce keeps advancing, Canada keeps growing its population, and no one has come up with a replacement for domains yet. So if you think you have a good quality portfolio of .ca domains, just try to hold on if these conditions hold in the years ahead.