domain NYCLAWYERS.com -- worth six figures?

[Larry2]

It is obviously a great domain. Been sitting largely idle since 1994.

 

[MrNames]

I sold a name for six figures in 2007. I have also sold three or four names for five figures. I bought my first domain in 2005. I would rather have $300 cash than NYCLawyers.com. I would probably take the name instead of $150. So, my true appraisal is somewhere between $150 and $300. That is a TRUE appraisal, not some nonsense that is found in most appraisal threads.

 

[Jv1999]

Nah. Derivative comps sold for 4 figs. Its worth at minimum 3x what NYCCriminallwayers.com sold for in 2013.

Nu. It's only worth 4figs. I used SEDO appraisal service $60.

 

[Jv1999]

I sold a name for six figures in 2007. I have also sold three or four names for five figures. I bought my first domain in 2005. I would rather have $300 cash than NYCLawyers.com. I would probably take the name instead of $150. So, my true appraisal is somewhere between $150 and $300. That is a TRUE appraisal, not some nonsense that is found in most appraisal threads.

You tell him bud. U know what u sayin bout domaining.

 

[MrNames]

Derivative comps mean zero. This isn't Manhattan real estate.

 

[slader23]

Derivative comps mean zero. This isn't Manhattan real estate.

It isn't but the comparative sales are what we use to define price level and market trends. Derivative comps have definite value. One guy claiming to have sold a six figure name in 2007 means zero. At least I can make conclusions based on facts with comps.

 

[todaygold]

At least I can make conclusions based on facts with comps.

Not so fast. First, not all 'sales' are 'factual'...some are fakes. Second, you also need to know the backstory...a domain can sell for more than it's basic worth because of what it was previously used for, because of traffic, because of backlinks, etc. Third, a domain can sell for more than what it is worth because for whatever reason, it might be a 'must have' to one particular individual. Etc. etc. etc. You can't just go throwing out numbers like you are doing.

 

[MrNames]

An appraisal value is what someone will pay for it right now. Experienced domainers know what that means. And I am confident that not a single of the top 200 domainers in history would pay 10K for it. I am reasonably confident that not a single one of them would pay 5K. I am almost certain that if you listed it here, and put it in a Buy It Now thread that lasted six months, you would not get 2K for it. I don't see anyone paying 1K for it. So, unless you can find a live human being willing to pay 1K for it now, then the name is not worth 1K.

When someone jumps in this thread willing to send 1K by PayPal that will establish that as the lowest price it can be worth. The only reason I would appraise it at $150 to $300 is because I know that there is probably some uninformed domainer out there (or here) who might get suckered into buying it from me. But the more I think about it, I would take $100 instead of the name, if offered both. And I mean that. It takes time and effort to sell a name, and this name is cancerous in that regard. Make sure you add up all of the hours spent talking about it and searching for a buyer so you can deduct that from the final price. Time is money.

 

[Jv1999]

It seems there is a lot of debate going on. And I believe that a competent person would regard this thread as a reflection of the domain's value.

NYCLawyers.com has an assured value between xxx to low xxxx, but anything beyond that is speculation as can be seen with people arguing on both sides.

If the domain was truly assured at 5 or 6 figs, then there would be no long-winded debate and everyone would just agree and walk away with nods. But instead this healthy disagreements shows that its value becomes uncertain past a certain range, and that range is xxx.

 

[Domains - Wanted]

Having read all of the above, I stick to my initial valuation: $xxx - low $x,xxx.

This is not an appraisal in terms of theoretical, comparative studies and how much the OP could or should offer this name for. This is saying how much I could sell it for this month, after negotiation, starting out with, say, $7,500 going in. Would I leave money on the table? Possibly yes. I wouldn't care, busy using the proceeds to buy other names to flip. Rinse and repeat. But that's me. A minority report

I think OP is a lucky son of a gun. Not only does he hold in hand a pretty good domain, but he has come across many potential brokers, confident to sell this name for $xx,xxx. Great thread!

 

[slader23]

Not so fast. First, not all 'sales' are 'factual'...some are fakes. Second, you also need to know the backstory...a domain can sell for more than it's basic worth because of what it was previously used for, because of traffic, because of backlinks, etc. Third, a domain can sell for more than what it is worth because for whatever reason, it might be a 'must have' to one particular individual. Etc. etc. etc. You can't just go throwing out numbers like you are doing.

Right. Like I said, those are variables that cannot be quantified at the time of sale. I didn't throw around random numbers. Much like what other people have done, they look at comps as a gauge of what holds value and than discount/credit a name based on its value compared to previous names that have sold. What I don't like is your inability to account for comapritive sales and the fact that your actual valuation is baseless because there is no real substance to your actual appraisal since you only provide a value without any analysis behind it. In reality the valuation of domains is a multifaceted process but with names like this I use comps and then I compare it with rosener's equation and my own domainers intuition. Variables that can change at the flip of a coin should not be accounted for. When I say low to mid xx,xxx there is actually a real method to why I put out that number, its not just out of a whim, this is serious stuff.

The Rosener equation for example,


Domain Name Valuation = A x B x C x D


where:
A = Exact-match monthly search volume
B = Average CPC
C = Click-through rate
D=Payback period (12-24 months)


GAKP NYC LAWYERS--->Volume: 260/mo | CPC: $14.31
Assuming a 0.35$ click through rate for being 1st in organic searches on google and a payback period of 12 months.

NYCLawyers.com = 260x14.31x0.35x12
=$15626.52 (+/-30%)
Which is in line with not just my valuation, but that of others. Personally I'd ask for more but this solidifies the consensus valuation of the name. I always use this equation as part of my valuation tool set when looking at emds, discounting the value for ngtlds, cctlds and lesser gtlds.


*The Rosener equation determines the value of a premium generic .com domain name by approximating the value – for a given keyword or keyword phrase – of ranking in the No. 1 organic position of Google.

 

[MrNames]

If this is the OP's name, and he didn't receive offers while it was idle, then that means it isn't worth much. Any name that would provide value would have received multiple nice offers, including recent offers. This is not the type of name that, if it had real value, would slip through the cracks. I see that a site is up now, and that is the appropriate use for it. But the name doesn't add a lot of value to whatever you are doing, even if it fits.

 

[Larry2]

The best offer I have had is for $55,000.

From this board, that sounds like a great offer, but I have received 100+ offers, and the lowest was $8,500, FWIW.

 

[Domains - Wanted]

...GAKP NYC LAWYERS--->Volume: 260/mo | CPC: $14.31
Assuming a 0.35$ click through rate for being 1st in organic searches on google and a payback period of 12 months.

NYCLawyers.com = 260x14.31x0.35x12
=$15626.52 (+/-30%)
Which is in line with not just my valuation, but that of others. Personally I'd ask for more but this solidifies the consensus valuation of the name.

$15626.52. Wow! Cool

Which begs the question to the OP: how's this math compared to his earnings from this domain these past umpteen years? And why in the heck is he even contemplating selling this golden goose if he's making this kind of money each year ???
And if he's not making anything close to this figure, what's wrong with him?

 

[todaygold]

The best offer I have had is for $55,000.

Getting an offer and getting a legit offer are two different things. There are plenty of tire kickers. And honestly, I find it pretty hard to believe you haven't gotten any lower offers than 8k. Something sounds pretty fishy if you haven't gotten people offering small amounts just to see if you would take it.

 

[slader23]

$15626.52. Wow! Cool

Which begs the question to the OP: how's this math compared to his earnings from this domain these past umpteen years? And why in the heck is he even contemplating selling this golden goose if he's making this kind of money each year ???
And if he's not making anything close to this figure, what's wrong with him?

lol ...undeveloped not sure what he'd be earning, but that equations outputting valuation should only be seen as a very, very rough guideline, it is definitely not absolute.

 

[Larry2]

The original owner of the domain was 78 years old. He bought it in '94 and never did a thing with it. Not even a 'for sale' landing page. It was just 404k page not found for 20+ years.
It's being sold as part of his estate that is being split amongst the kids.

 

[Larry2]

I'm sure I would get lowball offers if there was a "for sale" page up at the domain. I've only contacted appropriate serious buyers, hence the lack of lowball offers.

 

[Larry2]

The target buyer is a content marketing firm that will use the domain to sell ads to lawyers based in NYC. The marketing firm would invest in content to get the domain to page 1 of google for high-value keywords.

 

[MrNames]

If you have received multiple recent offers that are all over 8.5K then you already have your answers. There is not a person on the planet who will pay 55K for it now, and not many on the planet who will pay 8.5K. If you can conduct a transaction with anyone right now for more than a few K that would be surprising. I'm talking domain name value only.....not the contents of your site. Now, if your current site has traction and traffic, then you aren't asking for a domain name appraisal, you are asking for a business appraisal.

The name alone, if it had been idle for years, is not worth much at all. If you have a business with it, or traffic that comes with it, then that is another story. This was probably a waste of time so I am out. I sincerely wish you luck, and if you have a buyer anywhere near what you claim, for any reason, don't get greedy. Now, if someone truly offered 55K out of the blue, you should of course try to get a little more because that was not their best offer. But you run the risk, even though you should always counter a first offer.

The scenario that you mentioned is plausible, and I hope that you get the big money. Low odds scenarios happen all of the time (like the Patriots comeback against the Falcons). When long shots come in they are still long shots.

 

[Domains - Wanted]

The target buyer is a content marketing firm that will use the domain to sell ads to lawyers based in NYC. The marketing firm would invest in content to get the domain to page 1 of google for high-value keywords.

Like I've said before: great, eye opening thread!

 

[Larry2]

it's not a ton of traffic. but with only $5k invested to throw a site up, it's generated a dozen leads that have turned into high-value settlements.

 

[deez007]

Bringing up comps missed the point. This name is not worth that much at all. If it were listed here it would shock you how low the price would be. This name will get zero type in traffic (so would the singular). There are already tons of places to search for lawyers, and this name adds no value at all. It may seem like a good name, but if you offered this name, or $500 to 20 domainers who have sold names for six figures, almost all (probably all 20) would take the 500 in cash instead of this name. That is the test.

Any decent name can sell for at least 1K, but it will only sell for 1K a small percentage of the time (which means the value is lower). Sorry, but the name does not bring much extra value at all to whomever buys it. This is not a 5 or 6 figure name, and probably not a 4 figure name. If multiple people on this forum are ready and willing at this moment to pay at least 1K for it, then I will concede that it is worth that, but I doubt it would happen.

If you basing a domain value on what NP members would pay for it then you are way off base. Round here you can pick up a $xxx domain for $1 sometimes if you lucky even a $xxxx domain for like $10..does that mean the domain is worth $1 or $10? Nope, it's just that here on NP we are spoilt for choice... not a good idea to base a domain value on what it's worth on the NP marketplace.

If the op is patient and finds the right end user imo he could get 4-5 figures for this domain.

My advice to the OP, in future...never ask for an appraisal - All that will happen is that it will create a tennis match in your head... you will either be left with serious doubt about the domains value or you will be left with false hope that you sitting on a gold mine. You will never get an accurate indication of the domains value on these appraisal thread.

Your best bet would be to try the professional appraisal thread here on NP....

 

[MrNames]

You did well, but I'm not sure the name created those leads. It fits what you were doing, but you seem savvy enough that you would have created those leads anyways, with whatever name you used. I'm glad there is more clarity here. The name fits what you are doing, and you have now built a business with an investment of at least 5K plus time and effort. So, you now have a business and not a domain name. The business is what is valuable.

 

[todaygold]

but with only $5k invested to throw a site up

$5k!?!? Please tell me you didn't spend $5k for that basic wordpress website?

 

[deez007]

I sold a name for six figures in 2007. I have also sold three or four names for five figures. I bought my first domain in 2005. I would rather have $300 cash than NYCLawyers.com. I would probably take the name instead of $150. So, my true appraisal is somewhere between $150 and $300. That is a TRUE appraisal, not some nonsense that is found in most appraisal threads.

There is no such thing as a "TRUE" appraisal. Doesn't exist and it never will... a true appraisal means that there is not a single lawyer in NYC that will pay more than $300 for this domain... for that to be true it would mean you have personally made contact with each and every lawyer in NYC and none of them wanted to pay more than $300 for the domain.