trenzterra Posted January 16, 2004 Share Posted January 16, 2004 So my mum finally agreed to set up a PayPal account for me. And I have this idea, hopefully original: I'll buy a domain and set up a website which is a 'hub' for reselling domains. Eg. if someone doesn't want his domain anymore and thinks it would be worth it reselling instead of letting it expire, he can sell it to me and I would sell it out to others. One question, is it legal, and how do people transfer ownership and do you think it would be (mildly) profitable? Link to comment Share on other sites More sharing options...
yanman Posted January 16, 2004 Share Posted January 16, 2004 Hmm.. I personally don't think it's would be mildly profitable... but that's just my opinion. Link to comment Share on other sites More sharing options...
trenzterra Posted January 16, 2004 Author Share Posted January 16, 2004 There are two meanings to 'not mildly profitable'... Which one are you referring to? Link to comment Share on other sites More sharing options...
yanman Posted January 16, 2004 Share Posted January 16, 2004 What I'm referring to is, it's gonna be a lot of work to earn some profit, and profits aren't gonna be quick. What I mean is, if you're planning to do this as just a little something extra in your pocket, it's no worries. Also, you gotta make sure that people can trust you, and consider you a respected seller. Link to comment Share on other sites More sharing options...
trenzterra Posted January 16, 2004 Author Share Posted January 16, 2004 What I'm referring to is, it's gonna be a lot of work to earn some profit, and profits aren't gonna be quick. What I mean is, if you're planning to do this as just a little something extra in your pocket, it's no worries. Also, you gotta make sure that people can trust you, and consider you a respected seller. So I think I should auction domains first (are they possible?), get a good rating, before I start the website? Link to comment Share on other sites More sharing options...
yanman Posted January 16, 2004 Share Posted January 16, 2004 Hmm.. this idea is just for a little something extra in your pockets right? Link to comment Share on other sites More sharing options...
trenzterra Posted January 17, 2004 Author Share Posted January 17, 2004 Yeah, I guess so. for now. Link to comment Share on other sites More sharing options...
poind Posted January 17, 2004 Share Posted January 17, 2004 Probably "legal", but Paypal treats things differently depending on if they're for personal use (like buying from Ebay) or for commercial use (like if you set up an outright website to do something). Profitable? Highly unlikely unless you already have ins to some particularly valuable domain names. There are multiple sites/operations/spammers that already deal with such things. You'd have better likelihood of using your Paypal account to profit from buying/selling things on Ebay if you somewhat know what you're doing in a particular collector category or whatever. Link to comment Share on other sites More sharing options...
snippet1 Posted January 17, 2004 Share Posted January 17, 2004 You'd have better likelihood of using your Paypal account to profit from buying/selling things on Ebay if you somewhat know what you're doing in a particular collector category or whatever. Agreed - find a topic you like, identify a bargain, resell it with a profit. What you could do is find a domain that will likely be of high demand very soon in the future, and buy that. Then you can sell it on a dedicated domains site (or eBay? :/), making a profit. Link to comment Share on other sites More sharing options...
Jason the Eighty Eighth Posted January 17, 2004 Share Posted January 17, 2004 What you could do is find a domain that will likely be of high demand very soon in the future, and buy that. you can't really buy domains, you can rent it though. and that is very risky, what if the domain won't have high demand in the future? that would mean you would have wasted all the registration/monthly fees. Link to comment Share on other sites More sharing options...
snippet1 Posted January 17, 2004 Share Posted January 17, 2004 you can't really buy domains, you can rent it though. and that is very risky, what if the domain won't have high demand in the future? that would mean you would have wasted all the registration/monthly fees. Well, it's the same risk you take with any kind of investing. But when you rent a domain, you are actually buying the rights to it for a certain amount of time - and you can sell those rights. Link to comment Share on other sites More sharing options...
trenzterra Posted January 17, 2004 Author Share Posted January 17, 2004 I just found out that PayPal doesn't allow adding funds from a SG bank acct, only withdrawing, so I'm stuck with donations... I'll do the smilies website I originally planned to do for now I guess. Link to comment Share on other sites More sharing options...
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