Reselling domain names can be a very profitable experience. I stumbled upon this little known money maker a few years ago when deciding to sell off my first domain. I knew that I would not have the time to develop it, so I listed it at eBay for a starting bid of $9.00. (I figured I could at least make my money back from it!) I hardly did any prep work. I did open up my Paint Shop Pro program and create a simple logo for the site, and included the logo in the auction description. Creating the logo took about 10 minutes, and another 10 minutes for the auction description.

I listed it as a 5 day auction. The first few days went by with no bids. The fourth day my starting bid was met. (Remember, I went into this NOT trying to profit.) I figured I would wake up the next day with the $9.00 in my Paypal account and I would start the domain transfer. Well, to my surprise, I awoke to a BIDDING FRENZY and the final bid at OVER $160.00! All for a simple domain name! I half expected to not receive payment, but the winning bidder happily zipped over the $163.00 payment via Paypal, which thus started my new money-making (obsession?) venture.

Now, I can't promise you a profit pull of that much, but it IS possible to take one domain name and turn it into easy cash.

First, choose your domain wisely. I focus on mainly mom-based domains, but there are HUNDREDS of topics you can think of. Think of your own interests, hobbies, etc. I try not to choose domains with numbers or hyphens, although sometimes I do when it makes sense to (i.e. mom-to-be.com). I normally only buy .com domains, because these are worth much more.

Secondly, get yourself a free or low cost photo editing software. I use Paint Shop Pro, which costs about $70, but you can get yourself a free trial at www.jasc.com. There's plenty of other software that's just as good and free; just do a Google search. Get familiar with the software. Spend time making sample images, banners, and logos.

Write a catchy auction ad! Be sure to include possible uses for the domain name. I've found this to increase the bids by up to 200%!

Post the domain sale on relevant message boards or discussion lists. Notice that I said "relevant". Do NOT spam your ad, or you'll find yourself unwelcome when returning. Read up on "ad posting days", or dig around to find a forum where it's okay to post your sale. You can also post a short blurb about your domain for sale in your "Signature File" and post useful messages. (Useful!)

Remember that it's almost pure profit, so don't be afraid to start your bid price low (if you're auctioning off your domain). You can get a GoDaddy domain for $9.20 (or even lower; check my domain page for the newest coupons I've found). Starting your auction at $14.00 won't break you, and chances are (as long as you found yourself a pretty good domain name), a few bidders will raise that price pretty quickly.

If you're outright "selling" your domain name, pick a fair price. Trying to get $1,000 for my-pickle-farming-biz.com seems a little crazy, right? Believe it or not, there are sellers who actually start at such a crazy starting bid! (And FYI, I just made up that domain. I sure hope it's not a real one!) What would YOU pay for your domain? Factor that in when deciding on a fair price.

That's all of my domain selling tips for now!

For more hints on domain name selling, be sure to visit my domain selling section at http://www.MomCash.com/domain-sales I've sold literally dozens and dozens of excellent domains, and have many more priceless tips to share!