Labeled as debate in General Domain Discussion, started by uglydork, Sep 4, 2019
Right because they don't want to look as bad as they usually are.
No, what I need are genuine end users for my domains as better upgrade. The worst domain appraiser in the world
There's probably only about 6 or 7 members here on namepros that are really capable of giving a fairly accurate assessment of a domains 'market' value. And to my knowledge none of them do appraisals.
Appraisal threads are basically for those who don't have a clue looking from reassurances from those that equally don't have a clue - and in most instances they receive it.
The recent "list your ten top domains" should've opened a lot of eyes to the very narrow band of active members that actually know this business well enough.
While there is a lot of common sense in what you say, and I suspect your conclusion does accurately apply to the majority of buyers, I think at the same time there are some who need to assurance of some 'third party' view that substantiates the price they are going to pay. I worked two long in organizations that constantly spent money on appraisals, evaluations. consultant reports etc. for almost every major decision they made from property purchase, equipment, services, rentals, liability considerations, insurance, investments, etc. An efficient and trusted third party that could suggest a range in reasonable worth for a domain name would help propel some decisions forward in my opinion (whether that is human, robotic or probably a hybrid).
On a different level I have in past been in nonprofits that even when the amount is tiny need some disinterested party stamp that an expense is reasonable.
But have you had experience with any companies being convinced to pay X amount for a domain because of an appraisal?
I have not personally. My point was more that especially in board/committee decisions an appraisal, if consistent with a price that they have almost accepted, will help them justify/have confidence and move forward.
In most cases I would agree. Just not when it comes to domain names, where the industry is unregulated and the appraisals are mostly automated.
Unless a company had a pre-existing relationship with a professional in the industry, any appraisal would be met with skepticism (as it should).
Exactly there becomes this thing of who is qualified? Go ask Rick Schwartz or Mike Mann how many people in the entire world they believe are qualified to give a proper appraisal valuation on a domain name, I am willing to bet it would be less than 10 in the entire world.
What does an appraisal from an avatar mean? I joined Namepros last year let me evaluate your names. WOOHOO. Sure but first answer what I have always believed was the most important questions to anyone offering advice,
What do you own? What have you sold and what have you developed? After that is answered we can move forward.
@BaileyUK said it perfectly "Appraisal threads are basically for those who don't have a clue looking from reassurances from those that equally don't have a clue - and in most instances they receive it."
In an industry of echo chambers people are seeking reassurances because they have little to no self confidence in their own ability in buying and selling domain names.
This was all precipitated by a conversation I was having on twitter about Mike Manns sales. Im sorry of Im in the minority but I don't believe them all.
BUT......if those sales are real who would have them appraised at the prices in which they sell?
Domains are worth only what a buyer will pay - period.
I sold hatred.com by pure dumb luck at 6 figures. Was it appraised anywhere near that - hell no!
Its all perception and perception doesn't become reality until money exchanges hands no matter the made up valuation of some expert or machine
As a temporary boost if they go in my favor, or a proof that people are out to get me if they go the other way.
Yes but there are millions of potential buyers and they all think differently, have different needs and different ways of valuing and of course different budgets... ergo... every domain has the potential to surprise everybody else.
That is only half the equation. You also need a willing seller.
I have turned down offers in the past where some potential buyer will say you will never get a higher offer, then I sell it for 10x or 20x that price.
It takes a willing buyer and a willing seller. Some single buyer willing to pay some amount has limited correlation to actual value IMO.
These are my favorites and there's something about it... When I get an email like this, I know a sale is going to happen in the near future.
If I priced the domain today, I would have upped it to over $20k. But still, much better than the $99 offered.
domain worth is not existing
all there is
is worth to a buyer
but that's not existing as well
as all there is
is an understanding of that buyer
of the value of that domain
now that maybe be wrong
if it's too low
and you know better
you may be able to enhance the buyers understanding
but still, he might not reveal
that he understood
so what boils it down to:
you need a buyer that understands it
and now it's your task to
understand his real value
and communicate that to buyer
and convince him to pay you that price
no tool could ever do that
not even you can do that
nor the buyer
Of course it would. A person would be a fucking idiot not to know that.
My small portfolio I ran through Estibot, Godaddy Appraisal, and NameWorth
Estibot 142K, Goddady 250K, NameWorth 1.1 M
I think value is a mutual place between buyer an seller if a mom and pop wanted EPIX for there store it would have less value to them where as a media giant wanting it to create a streaming/television channel. How much is that 4L worth as a brand.
To the seller how eager are they this creates value on their side. If you hold on value will rise if your just trying to make 2-5X cost that’s about all you will get.
The world would be a better place with out the godaddy apprisal tool
If you are adding all your profiles appraisals together do not forget to consider that most domainers sell 2-5% of their portfolio you better divide that and subtract 95% for a number you can work against.
Appraisals don't matter in case of trending domains, because the algorithm takes into the previous sales as one of its factors. Consider the Crypto domain names for example, most of the Crypto domains that sold for more than $5000 were actually appraised as less than $100 at all appraisal bots and tools.
Nonautomated appraisals from very experienced domainers can be useful.
Though in the end it's the waiting game, personal experience & knowledge and how much the buyer is willing to pay for the particular domain.
Comparable sales are lacking, one can't base the domain's value only on comparable sales.
There will always be more sales and statistics will change.
There can be a rich buyer who all of a sudden really likes a specific domain while the domain's owner is a domain investor who usually "overprice" his domains
The rich buyer may not care at all or even know that the domain is overpriced and buy it outright.
A corporation won't care if it is 5 or 7 figures or even 8 figures.
Voice.com $30M sale is the latest example.
No appraisal tool would have appraised Voice.com at 8 figures before this sale because there was simply not enough data to support such a price.
I imagine that 99% of domainers wouldn't dream of such a sale price for this particular domain.
If someone asked me to appraise it, I would have appraised this domain at low 7 figures and maybe if pushing it mid 7 figures End user(based on similar sales and the domain's potential).
The same goes for the early 7 figures domain sales in the late 90's and early 2000's.
There were no appraisal tools or established market prices in the beginning, only guesses of some "get rich quick" sums of money.
I was going to post "it depends on who is giving the appraisal" .. but now I'm thinking it depends on the statement they make concerning the domain.
You could have a highly intelligent individual enter the domain sphere for the first time having previously made a small fortune trading in tea bags and coffee beans on Wall Street in the 1990s. Yes, I want to hear what she has to say.
A lot depends on the ego of the individual asking for the appraisal, the greater the ego, the more likely they will dump the advice anyhow.
Godaddy appraisal tool is great for worthless domains, not so great for premium domains.
This is the 'job' done by 'machines' based on several predefined parameters. Practical value - zero.
Estibot has set the industry standard for appraisal and in very helpful is estimating what a domain will sell for without it some people would sell too cheap or list too high. Domains usually sell for what they appraise at (if your using a reputable services). Godaddy's appraisals are also highly accurate
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