From a 2002 LA-based domain forum that has since closed;
"The bottom is falling out of the domain industry faster than anyone expected. At the same time, the economic misfortunes of the Internet has strengthened the top by focussing attention on the relationship between a carefully targeted domain and success.
QUALITY names will rise to the top like cream. Companies needing traffic will have to buy it from the owner of the domain they didn't have the foresight to acquire when they could have.
The revenues such domains will produce will make even a seven figure offer pale by comparison to hooking it up to a sponsor and being set for life.
Competition among people who have mastered this game make it very difficult for any newbie to compete.
Auctions are not a where you can expect to close a sale for big bucks. Even when their server is working, its just too much to ask a corporation to wade through all the menus, categories and pages of names required to find one that fits.
While any CREATIVE name without type-in potential may eventually be sold to a company who seeks you out through the WHOIS, its still a long shot. In reality I find that each client has very specific needs. It's easier for their agency to take a fee to create a name from scratch or to help find what they need from someone else.
Most domains have NO value. More and more speculators will drop out of the game when it delivers no return.
That’s not to say anyone should give up the entrenpernurial spirit that brought him or her into domain investing to begin with. You can always take just ONE domain you own and turn it into a developed success. All you need is a business plan to make a PROFIT. That should be your focus, not chasing more and more domains and every new extension."