There was an interesting comment made by a reader that I thought that I'd address first up that related to Domaining 101 "Part 2" and how to tell who the potential buyer is.

Here's five things that I try to get answered prior to any negotiation:

1. Does the email address of person that you're about to negotiate with give any clues as to who the buyer is? Do a whois check on the domain.

2. Are they using a broker or a lawyer?

3. I always try and call the buyer and negotiate via voice as their voice often gives a lot away. Get the person into a general conversation about the Internet and you can often tell their level of sophistication.

4. Are they requesting contracts of some description? This also strikes at the heart of how sophisticated the buyer is.

5. What does Google tell you about the domain now? Search on your domain - you may get a surprise and find that a large company has just launched a product with your domain name and the marketing manager is playing catchup.

Here's the bottom line. Don't sell unless you're happy with the price and stay happy when you finally sell no matter who they are. It's my personal opinion that too many domainers are holding onto their domains and remaining cash poor but potentially asset rich.

My advice is sell down some of your domains and enjoy life as well as the ride that this industry provides. No one has cried over having cash in the bank...

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