In this industry, developing the habit of buying domains due to a “man, I’d love to own it!” or “everyone would envy me if I’d own it!” impulse is a surefire way to lose money in the long run.
Do you want “trophy” domains or good acquisitions?
This is one of the most important questions you have to ask yourself.
Sure, we all love amazing domains and sure, other domainers will probably envy you if you build a trophy domain portfolio. But if you overpaid to such a degree that you ended up ultimately losing money, what good did it do?
If you’re a professional domain investor, act like one.
Don’t let ego-related arguments influence your decisions.
Lots of people are guilty of this and while you might envy them after seeing their portfolio, you probably wouldn’t envy them for their financial situation!
Pick a side.
If domaining is nothing more than a hobby for you and you have lots of money to throw around then by all means, buy trophy domains without blinking.
Most domainers, however, want to make money and to do this, they have to adopt the right attitude.
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