Lately I had a conversation with a end user for a domain (E-commerce Brandable domain) that i hand reg a year ago. And last night i got mail from buyer asking for justification of price offered by me. I asked him for low XXXX. How can i justify the value of that domain.
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The simple version of this is.. You own it, and if they want it or feel it would be beneficial to their business, ..that's the price! If they don't want it, then you'll just offer it to their competitors.
Going after the right type of end users will be critical. By going after similar websites that have the domain keyword you own within their domain just maybe the longer version or less valuable extension. By doing this the value of the domain will be pretty obvious.
If the domain has a good amount of searches per month you can use that stat to your advantage and mention it to represent value. As stated above having a history of recent similar domain sales can justify the price if the price is within your target price. In simple words just do your research.