Money.com.au changed hands not to long ago, and in the process took top spot in global reported ccTLD and Australian sales at $400,000 (in the last 12 months).
Money.com.au is a premium single word domain with huge potential in the finance niche.
The domain was purchased by finance industry veteran Shaun McGowan who has the golden touch, having successfully built one of Australia’s leading car loans businesses. McGowan has now launched a new venture using his premium .au domain name offering innovative solutions for both business loans and car loans.
In an Australian exclusive we spoke to Shaun McGowan to get his thoughts:
“Companies spend a fortune every year trying to build their brands, it’s a slow, expensive grind.
Why not just buy one? This is the thing about generic domain names. They are so powerful. Thats why I recently I purchased the domain name Money.com.au.
You’re probably thinking it was already taken, it was. However I was able to successfully negotiate with the seller to pry this generic domain name from them.
I know that this domain name brand will perform well in Search and offline as most people will instantly believe it’s the biggest and best finance business. It has instant credibility.
Next time you’re looking for a brand, consider buying a domain name. You may have to pay a premium for it, but trust me, its totally worth it.”
Congratulations Shaun and best wishes on your new venture!
Edit – The sale of money.com.au was brokered by Cooper Mills Lawyers.
Funny how most business owners don’t think twice about:
(i) Spending $2,000-3,000 per month on SEO ($24,000 to $36,000 pa)
(ii) Spending $80,000-$240,000 on a new office/shop fit-out
(iii) Signing up for a 3 or 5 year lease when trading conditions are less than certain
(iv) Putting on a retail assistant or 2nd or 3rd receptionist (at $40,000-$60,000 pa)
But will um and argh about the most critical piece of the puzzle for trading online:
The right domain name.
Many make the mistake of listening to their IT guy or asking their IT guy for what is essentially a marketing decision.
Many make the mistake of asking their web or SEO guys what they should do, forgetting that their web and SEO guys would rather have that money flowing into THEIR coffers!
It’s actually laughable. Once these things are gone they are gone FOREVER.
A domain name purchase is not a sunk cost. It’s a capital asset that may increase in value and can be re-sold if one’s business plans change.
$400k is a good buy, congrats Shaun. Apparently the owner of Bitcoin.com.au declined $500k not so long ago. Decent names are worth decent dollars
Pay.com.au just sold for $168,000, not bad.
I don’t like the headline:
“Pay.com.au Goes in $168,000 Deal For Largest 3L .AU Sale”
http://www.domainpulse.com/2019/07/10/pay-com-au-168000-deal/
Should say “Largest [Reported] 3L .AU Sale”. Most sales are subject to NDAs and never reported.
Yes good point as most sales are never reported! Pay.com.au is nevertheless a great sale
Sometime’s you’ve just gotta Pay.com.au the man! And get on with doing business.