- Impact
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Domain Appraisal 101- Based On Personal Experience
How do you conduct a background check on a person whose real identity you cannot verify? How many people in this forum will you be willing to give your credit card information too? If you answer none, to the last question, why then are you letting others decide on what your domain names (products) worth?
Domain name appraising is a quick and easy way for many to make extra cash. Only few people in this business can truly stand by their words. I am neither a pro nor a rooky; however, my personal experience has thought me well. Here is my personal opinion on domain appraising and you do not have to follow them.
All domain names are unique, thus, they each bring something new and unique to the market, whether you recognize that uniqueness or not.
All domain names have the potential to make money.
Patience and avoiding speculation is the core foundation in the domain name business.
There is no one size fit all in domain name business.
Domain name investment is likening onto the stock market where news whether based on facts or speculation affect the stocks.
One, two, three or four letter domain names are not necessarily the best domain names (an example is BillMeLater). Whom will you rather buy from a company whose domain name reads BillMeLater or iBill?
Avoid speculation, because every time you speculate someone else gets hurt, when someone else speculates you may get hurt (it is a chain reaction).
Think outside the box.
Ask yourself, will you be willing to buy what you are selling if the circumstance was reversed?
Do not be in hurry to sell, slow and stead always wins the race.
Ask domain investors who have made good money from these business how they did it (ask to see some prove).
Register domain names that YOU would build a business around, if you have the financial backing.
Research, create and develop your own brand
No thyself – do not trust anyone with your domain names (products).
Invest in domain name that reflect what you like (i.e. your passion, hubbies, lifestyle, interest and the first thing that comes to your mind when you wakeup) after all you are the consumer.
Before you pay an appraiser any money, there are few things that you should know (pay yourself first)? Multiply your last true hourly pay by three. Then add up the number of hours it takes for you to come up with the domain name, the time it took for you to register the domain name and the number of hours you spend in domain forum trying to promote your products. Total these hours and then multiply by the final hourly pay (times 3). Then ask yourself, does this domain name worth appraising. Again ask yourself, do I think this domain name worth appraising (remember prospective buyers are not as stupid as you may think).
Good Luck
The above information is the writer personal opinion, which is solely based on his personal experience. Elie is the founder of NamingJournal.com.
“In last six years, Elie has sold several dots “ORG” to nonprofit and religious organizations in the Northeast and Southern United States.
How do you conduct a background check on a person whose real identity you cannot verify? How many people in this forum will you be willing to give your credit card information too? If you answer none, to the last question, why then are you letting others decide on what your domain names (products) worth?
Domain name appraising is a quick and easy way for many to make extra cash. Only few people in this business can truly stand by their words. I am neither a pro nor a rooky; however, my personal experience has thought me well. Here is my personal opinion on domain appraising and you do not have to follow them.
All domain names are unique, thus, they each bring something new and unique to the market, whether you recognize that uniqueness or not.
All domain names have the potential to make money.
Patience and avoiding speculation is the core foundation in the domain name business.
There is no one size fit all in domain name business.
Domain name investment is likening onto the stock market where news whether based on facts or speculation affect the stocks.
One, two, three or four letter domain names are not necessarily the best domain names (an example is BillMeLater). Whom will you rather buy from a company whose domain name reads BillMeLater or iBill?
Avoid speculation, because every time you speculate someone else gets hurt, when someone else speculates you may get hurt (it is a chain reaction).
Think outside the box.
Ask yourself, will you be willing to buy what you are selling if the circumstance was reversed?
Do not be in hurry to sell, slow and stead always wins the race.
Ask domain investors who have made good money from these business how they did it (ask to see some prove).
Register domain names that YOU would build a business around, if you have the financial backing.
Research, create and develop your own brand
No thyself – do not trust anyone with your domain names (products).
Invest in domain name that reflect what you like (i.e. your passion, hubbies, lifestyle, interest and the first thing that comes to your mind when you wakeup) after all you are the consumer.
Before you pay an appraiser any money, there are few things that you should know (pay yourself first)? Multiply your last true hourly pay by three. Then add up the number of hours it takes for you to come up with the domain name, the time it took for you to register the domain name and the number of hours you spend in domain forum trying to promote your products. Total these hours and then multiply by the final hourly pay (times 3). Then ask yourself, does this domain name worth appraising. Again ask yourself, do I think this domain name worth appraising (remember prospective buyers are not as stupid as you may think).
Good Luck
The above information is the writer personal opinion, which is solely based on his personal experience. Elie is the founder of NamingJournal.com.
“In last six years, Elie has sold several dots “ORG” to nonprofit and religious organizations in the Northeast and Southern United States.
