domain Is lemonace.com a good choice as a first domain purchase

[DEVShah]

Hi,
I am new to the domain game and was looking to buy lemonace.com from godaddy auctions for $5 + 1 year fees. I did a quick search and godaddy gave an estimated value of $1,551 and brandpa recommends a range between $2696 and $2995.

I would appreciate your guidance and thoughts on whether it will be a good domain to start learning the tricks of the trade.
Thanks
Dev

 

[gilescoley]

Welcome to NP

I cant see a lot of uses for this one and its only registered in 2 other extensions (neither are developed)

Always get a list of potential buyers before buying a name. Dont buy the name because you like it, make sure there are end-users to sell it to.

Buggest advice I can give you as a new domainer. DONT ever use automated appraisal tools (godaddy, Estibot, Valuate etc) Why do you think Godaddy (a domain registrar) would have a high appraisal for a name, they want you to register the name, and where would you register it? Godadddy!! Its in their best interest or you to buy the name so they make money.

 

[DEVShah]

Thank you for your insights. I appreciate it!