NameSilo

Are Appraisals really necessary?

Labeled as debate in General Domain Discussion started by uglydork, Sep 4, 2019.

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  1. uglydork

    uglydork Top Member VIP

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    @Darryl Lopes and I had a fun twitter discussion this morning on the merits of domain name appraisals and their merit.
    Do you need an appraisal and does it really matter?
     
    The views expressed on this page by users and staff are their own, not those of NamePros.
  2. Lord Antares

    Lord Antares Top Member VIP

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    They are useful for noobs and even pros sometimes. However, paid appraisals are a scam IMO.
     
  3. Riz M.

    Riz M. EmpireNames.com Gold Account

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    I think appraisals from pros have worth..else u would sell some gems in peanut prices...
    but as i am seeing pros now dont give a sh*t about giving appraisals..
     
  4. lock

    lock PremiumNameDomain.com VIP

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    The number itself no the information offered however is valuable. Eg searches, backlinks if a site, rankings etc. You can make a better decision based on more information toward pricing.
     
    Last edited: Sep 4, 2019
  5. uglydork

    uglydork Top Member VIP

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    That was my side of the discussion- worthless
     
  6. barman

    barman Established Member

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    Paid appraisals are worthless.

    I do appraisals in the Appraisals section here to try and sharpen my own skills, and to give good feedback when I can. Unfortunately, 98% of the names people want appraisals on are trash, so it's not as fun as it should be.

    Most of the time it's just rummaging through trash and crushing peoples' dreams.
     
  7. lock

    lock PremiumNameDomain.com VIP

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    They offer another tool in closing. Although domain sales history is ultimate tool a buyer and not domain owner maybe also buying the appraisal.
     
  8. uglydork

    uglydork Top Member VIP

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    I feel that it’s a negotiation- the buyer and seller set a price no matter what someone tells you it’s worth.
     
    Last edited: Sep 4, 2019
  9. lock

    lock PremiumNameDomain.com VIP

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    There is no denying that is what sets the price. Some people want a second opinion and their mate didn't sound confident enough.
     
  10. lock

    lock PremiumNameDomain.com VIP

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    I for one think without a wallet out to buy it all doesn't matter … if you don't want influence but I still feel there is something to be gained from my peers opinions as I am here.
     
  11. NYJimbo

    NYJimbo Domain Re-Animator Gold Account VIP

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    That's why I stopped doing it. :-P
     
  12. lock

    lock PremiumNameDomain.com VIP

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    Sux to be the bearer of bad news I have had so many dislikes from being honest with appraisals that were utter rubbish.
     
  13. uglydork

    uglydork Top Member VIP

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    You are correct - if I felt I may be leaving money on the table I might reach out to someone I trust to help gauge the price
     
  14. lock

    lock PremiumNameDomain.com VIP

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    I always wanted to start a bit of a club doing freebies in a group on portfolios. eg You pick out top 10 give them a number or 2 whole sale retail and brief note. Do the same for a few others. Till you have a few different top lists of your own to compare how others felt.
     
  15. DomainRecap

    DomainRecap Top Member VIP

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    Never look at the actual dollar amount, as that part is just guesswork, but it can be a viable tool to categorize a group of domains. i.e. those "valued at $5K or higher" will on average, be far more saleable than those "valued at less than $1K".
     
  16. hookbox

    hookbox Top Member VIP

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    Appraisals are worthless. Would you have appraised Voice.com at 30 million? A domain is worth whatever a buyer will pay and not what someone appraises it at.
     
  17. uglydork

    uglydork Top Member VIP

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    Yes! This!
     
  18. DomainRecap

    DomainRecap Top Member VIP

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    Here's a test, go to any appraisal system and type in these:

    Voice.com
    Sjjdlueygs.com
    Voicesingerforeveryoneintheworld.com

    And please tell me which one is ranked at the top.
     
  19. hookbox

    hookbox Top Member VIP

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    Who cares. Of course Voice.com appraise at 30 million now. They always update names like this that sell with the current sale price.
     
  20. Jason Baudendistel

    Jason Baudendistel CEO Wibbets Inc Blue Account

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    Just a separate viewpoint but isn't a professional appraisal a bargaining chip for the seller in this negotiation?
     
  21. Jason Baudendistel

    Jason Baudendistel CEO Wibbets Inc Blue Account

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    Respectfully disagree that they are worthless, merely not a guarantee of sales price. An appraisal can be used as a negotiating tool but ultimately what is paid is solely the buyers discretion.
     
  22. DomainRecap

    DomainRecap Top Member VIP

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    So you're actually telling me that prior to the sale, Voice.com would not have finished as the top? Really?
     
  23. Joe Nichols

    Joe Nichols Common sense consultant VIP

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    I think what you'll find is that those who need to be talked up using this tactic, are never going to buy your name for the price you want.

    The ones who are willing to pay, will do so without needing to see an appraisal.

    Either a buyer knows the value of a good name or they don't. They're not going to drop thousands on it just because the random website you pointed them to says it's worthwhile.
     
  24. bmugford

    bmugford www.DataCube.com PRO ICA Member VIP ★★★★★★★★★★

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    Automated appraisals can be useful to parse through large lists of domains, but the actual number is rather meaningless.

    Brad
     
  25. equity78

    equity78 Top Member TLDInvestors.com TheDomains Staff PRO Gold Account VIP ★★★★★★★★★★

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    Exactly Joe, domainers talk in places like Namepros and domainer twitter and get this group think, that guess what? No one else anywhere on this planet cares about. There are more people in this world that will tell you why what you are doing for a living or a side hustle shouldn't even be legal (hoarding, rent seeking, extortion) than will ever say, "Oh thanks we had budgeted $1,000 but something called Estibot or Afternic professional appraisal said it was worth $30,000. Do you accept American Express?"
     

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