domain Domain appraisals 6666666.com $71,000 USD or $5,752 USD?

[frank-germany]

domain appraisals 6666666.com $71,000 USD or $5,752 USD?


here is what happens if you don't trust your own automated appraisals:

 

[private123]

I want it... if GoDadddy provided@ appraised value

 

[Bob Hawkes]

Thanks for post @frank-germany I totally admit to not being an expert in number domains, but to me it seems that the buyer paid way too much, and actually feel the automated appraisal got it about right.

I had a look at NameBio 7 N sales in .com. There have been 1255 sales with an average price of $384. The next highest sale before this one was $5500 (for 23245678) and another all same domain (3333333) went for $4999. Here is link to list if anyone interested https://namebio.com/?s==gDOyITN4gTM

 

[frank-germany]

Mike Mann posted today:


Mike Mann‏ @mikemanndotcom 17h17 hours ago




GoDaddy 'appraisal' tool shows http://videoarchives.com "estimated Value: $2,732" but they sold it for me for $49,888K yesterday, hahahahahahaha. Tools?

 

[Bob Hawkes]

It is important to keep in mind selection bias. Any one sale, or even all the sales by a person who is highly successful and expects and holds out for high prices, should not be the test. Andrew wrote an excellent piece on it a few months ago.

https://domainnamewire.com/2018/05/16/selection-bias-and-automated-domain-name-appraisals/

 

[frank-germany]

let me quote Mike Mann
‏ @mikemanndotcom
Oct 26 2018 twitter

"I finally came up with a rational reason for Godaddy's fake, self-serving,
conflict of interest, domain appraisal machine which millions of people have mistakenly depended on.
Most of the domains are worthless but being appraised for a few hundred dollars each
that encourages the mark to keep renewing them within GoDaddy instead of letting them expire;

also, any good names are priced maybe up to a few thousand dollars
even if they are worth a million (it's 100% automated, poorly,
and they don't have real people that know how to appraise domains looking at any of it as far as I can tell),
this encourages a fast automated sale and brings in their commission,
to hit the monthly numbers in that department if other methods didn't work.
Also no idea how they will properly price a couple million premium names
they own themselves without real experts and many years of time on their hands.
The app won't do the trick at all unless it's massively redone,

and even then needs human eyes to fix very costly mistakes so more shareholder value doesn't go down the drain.
And Godaddy uses the fake appraisal app to justify lowball offers to buy collections from weak parties
when other strategies don't work.
....
Also, Godaddy has a domain auction site where their own conflicted appraised value of a few hundred dollars
is almost always listed on worthless domains of customers or their own; to try to get a sale and commission;
so therein is another motivation and conflict for the scambot."​