Learning from Mistakes
Domaining Tips

About 4 months ago I was going through a huge list of domain names on auction at NameJet (a place where you can bid on expiring names that have value)... anyway it was late in the night and I was desperate to find a bargain after losing out on two auctions earlier in the day.

I'd spent about an hour looking through and researching a bunch of domain names that were about to go to public auction. There was a lot of good names but they were already out of my budget.

Then just as I was about to logout - I saw something amazing!!! A .com domain with two highly searched keywords and it was only $60 at the auctions close-out.

I thought heck, I'll have a piece of this - $70 in I went. I didn't think I'd win, I was sure there'll be some late bidders.

But nope. None.

I won!!!!

Hold on a sec.... a closer look and I realized that the domain was a typo - a spelling error... a WASTE! No wonder there weren't late bidders - I mean this should be worth thousands if it were the real deal. I should've known this was too good to be true.

So there I was, stuck with a useless domain name for which I paid $70!!! I can't even sell this for $7 if I tried.

So... there was a few lessons to be learned here...

- Don't go registering or worse, bidding on domain names at late night (especially when under the influence of alcohol)!

- Always remember, if its too good to be true, then it probably isn't true.

- Do some research, don't rush into things.

- Learn from your mistakes.

Great... well not quite... I only went and bid on what I thought was a PR6 domain - only to leave doing the research a bit too late. It turns out this is a spoofed PR (its fake). I'm hoping someone outbids me so that I don't lose $150!

I'll go into more detail about fake PR domains at the Demonised.com website - have look in the "Domaining" section.

Oh yeah... and learn from my mistakes.

Source: http://www.qassia.com/learning-from-mistakes-domaining-tips