In this article I wrote how the Domain King, Rick Schwartz, is again setting a new standard in marketing, this time he buys domains off Twitter. Since I wrote that, I was able to interview the Domain King and ask him if he’s actually bought any domains (spoiler alert: he did), among other questions. With more than two decades of experience, he’s not just sitting back on his laurels and counting his tens of millions of dollars he’s made selling domain names in the past. Now, he’s moving faster and harder than ever to leave a legacy fit for a king.
Before I go on, I want to thank Domain King, Rick Schwartz, for taking the time to answer my questions, for being kind, and for his honesty. To be clear, Rick didn’t have to take the time to talk to me. Domain Investors and Entrepreneurs like Rick are extremely busy. And to be honest, I’m not exactly Bob Woodward. Above all, there’s room for decency and kindness in this world still, and Rick proved that too. Now, on with the interview – here’s his first tweet I wrote about a while back:
It’s Best #Domain Monday!
Rick’s Instant Lander Page
List your VERY BEST #Domains (No more than 2) with Your Very Best BIN Price
Give me 90 minutes of First Refusal
— Rick Schwartz 👑 The DomainKing® 👑 Since 1995 (@DomainKing) November 11, 2019
First, I wasn’t shocked that the Domain King buys domains off Twitter. I was surprised at his public plea to buy more domain names. But after I thought about it more, I saw the genius in the tweet. Rick is probably the most influencial domain investor and has a large following on social media. It only makes sense for him to make the plea and possibly score a great domain at a discounted price. I wrote more about that in another article, and even listed out all the domain names that people replied with (and their price to him). Here’s an excerpt:
Think about this for a moment – Rick Schwartz is leveraging all of his social media presence on Twitter, many of them domain investors – and offering them a chance to quickly sell their very best domain at a deeply discounted price. For Example, his most recent tweet got 177 public responses with more than 500 domain names and probably more than one Direct Message.
After a bit of time had passed, I had some questions. So I reached out to Rick and he obliged. Here’s my candid interview with Rick Schwartz with some follow-up questions. Enjoy!
- You’ve tweeted the above tweet a few weeks now – have you bought any domains this way?
“I’ve bought 3 domains from my Twitter posts: LambChops.com, SkiJacket.com and BlabberMouths.com.”
- What has been the most surprising thing you’ve seen in the responses to your tweet?
“The low quality and the crazy prices.”
I can go thru many #Domains in seconds when you are looking to meet a standard.
“Can someone build THEIR dream on THAT #Domain name?”
Yesterday I am sorry to say very few qualified.
If it does not meet that standard, the intersection is missing and so is your chance to sell.
— Rick Schwartz 👑 The DomainKing® 👑 Since 1995 (@DomainKing) November 30, 2019
- a few days after your first tweet offering to buy domains, you tweeted this
I can go thru many #Domains in seconds when you are looking to meet a standard. Can someone build THEIR dream on THAT #Domain name? Yesterday I am sorry to say very few qualified. If it does not meet that standard, the intersection is missing and so is your chance to sell.When you ask “Can someone build their dream on your domain names”, when it comes to buying and selling domains, can you quantify precisely what you mean?
“Not really. It speaks for itself. Buy prime land with demand not swampland that will never have demand. If you are a domain investor and you can’t RAPIDLY see and KNOW the difference, then there is nothing else to say.”
- Do you own any domains that you think “nobody can build their dreams on that domain?”
- Why do you own them?
“There are different levels of domain buying. I can afford to go to the edge, most can’t. Many are just personal domains. Plus, I collect domains as well as investing in them. There is a difference.”
- Do you own domains that you generate revenue off of parking still?
“My Parking revenue still pays for all my renewals.
- Do you use these as money-makers to leverage buying and selling domains?
“My overhead is $0. Most don’t understand pay-per-click because they have no traffic to their domains. Traffic is the #1 qualifier of a domain.”
- Would you ever offer to sell any of your domains to another investor publicly on twitter in the manner that you expect domainers to respond to your tweet?
“No, nor would I offer it to them.”
- Has that tweet invoked any DMs with domains for sale? Was the quality better or the same for domains offered via DM?
“Several. Some with better names.”
- I enjoy reading the responses to see if there are any bargains I too can jump in on that you passed on. Would you suggest other domainers use that technique?
“There may be 1 or 2 worth looking at. But that’s about it.”
- Is there anything you haven’t already spoke to that you’d like to add?
“Like I have said for over 2 decades. There are many ways to climb the domain mountain and make your fortune. So as long as you are making good money, no worries. But if you are not, time to find another trail because it just ain’t working. Follow folks that have found success not folks still looking for it or preaching this or that without solid and PUBLICLY published results. Too much-unqualified noise and fake info out there while there are many qualified domainers, blogs and podcasts that talk from success as opposed to those that have none at all or an agenda or are trying to sell this or that. Be wary! Good luck to all!”
Rick is to the point, so I’ll offer just a few takeaways from his comments:
It’s okay to buy domains you like. Even the Domain King admits to collecting domains. However, a word of caution, not everyone can afford a domain collection. Can you afford to collect domains? Personally, I can’t collect many, but there are some I just like. When buying and selling domains, I do my very best to properly examine and research them. However, I still end up with a stinker or two that sounded great in the moment. It’s good to know I’m human still, and so are you. Make mistakes, learn from them, build success – don’t continue buying poor domains.
I can’t get over the fact that he makes any money parking domains. There’s a great chasm between the value of my domains and Rick’s, to be sure. As he said,
Traffic is the #1 qualifier of a domain. I’m going to take his advise to heart and pay more attention to traffic on domains I buy.
Finally, Rick is a leader, not a follower. This may not be a revelation to you, but it’s interesting to me because I think many of us get caught up in the game of “if he’s doing it, there must be something to it”. There is no substitution for experience, but as I gain experience, I’m listening to my gut more. No more bidding on domains that I know are worthless because Some Hotshot says I should or is personally involved in the auction.
Would you ever consider marketing your desire to buy domains on Twitter, or another social platform?