domain NYCLAWYERS.com -- worth six figures?

[Larry2]

It is obviously a great domain. Been sitting largely idle since 1994.

 

[slader23]

First, my appraisal is inline with what the others said. I said it could get into the low $x,xxx range...which is similar to what other users wrote.
Second, you need to understand that not every single domain sale on namebio is accurate...you can't just take everything at face value.
Third, you are seriously comparing a lawyer domain to a rental or apartment domain? Those two aren't even close.
Fourth, the two you highlighted took place nearly 4 years ago...the market for location/geo type domains has changed a bit since then.

In line? lol btw nyccrimimallawyers.com sold again for 2.5k last year. Only one other person said low xxx to x.xxx, so the most accurate valuation is indeed in the low xx,xxx to mid xx,xxx range considering the sales of names that are the derivatives of the OP's prepurchase name, NYCLawyers.com.

Market sentiment is expressed in sales and is a good indicator of domain value. That is why you have to monitor and take into account of comparative sales before purchasing any domain you believe will have value to end users. Another indicator of value is the fact that derivative names sell for highly in the aftermarket. For example Car.com>Cars.com>UsedCars.com>CarsForSale.com>ClassicCars.Com/SuperCars.com etc, if the derivavative names have value then the original singular and plural terms will have significant market value, of course this depends on the niche. I highlighted and underlined the comps, don't try and get away from my point.

 

[slader23]

LOL LOL So you basically just said that the owner of nyccriminallawyers was forced to sell at a loss just 3 years later! You just proved my point! In less than 3 years, the domain lost so much value that the owner lost nearly half of what they paid for it.

Can't really make assertions as to what actually caused that domain to sell for a lower price. Many different variables come into play. However, it still sold within the valuation range that has been established by the market for NYC(Niche)Lawyer.com domains. So this doesn't really do much to the value of the OP's pre purchase domain. Good try though, your appraisals are still very off and tbh lack any real understanding of market trends.

 

[slader23]

Bringing up comps missed the point. This name is not worth that much at all. If it were listed here it would shock you how low the price would be. People don't look for lawyers anyway, they look for a lawyer (singular). So, this name will get zero type in traffic (so would the singular). There are already tons of places to search for lawyers, and this name adds no value at all. It may seem like a good name, but if you offered this name, or $500 to 20 domainers who have sold names for six figures, almost all (probably all 20) would take the 500 in cash instead of this name.

 

[MrNames]

No domainer who had ever made a living from buying and selling domain names would EVER pay 10K or more for this name. That is one of the biggest jokes I have read in a long time. You can throw out appraisals all you want, but I will give you a month to find just ONE domainer on the planet ready and willing to buy NYCLawyers.com for 10K. There is a zero chance it happens.

 

[slader23]

That is, by far, one of the stupidest things I have ever heard. Then please, do let me buy your house for the same amount it would have been worth 50 years ago. Or perhaps you would like to purchase some chips domains for what they were worth a year or two ago?

You clearly don't understand how comps work in the domaining world. You've made a good name look bad because of your lack of understanding. Go back to step one. Stop giving appraisals, especially pre purchase appraisals they are of little help to anyone.

 

[slader23]

No domainer who had ever made a living from buying and selling domain names would EVER pay 10K or more for this name. That is one of the biggest jokes I have read in a long time. You can throw out appraisals all you want, but I will give you a month to find just ONE domainer on the planet ready and willing to buy NYCLawyers.com for 10K. There is a zero chance it happens.

Says the guy that's been here less than a month.

 

[Jv1999]

You need to check comps before you make any kind of pre purchase appraisals. Low 5 to mid 5 figures is where I see this selling. Low xxx to x,xxx isn't even close to an accurate appraisal considering derivative nyc lawyer names have sold for low to mid xxxx already. This name is the optimal choice for a law firm looking to use an nyc+law related term designating their specialization, as it encompasses every single law niche. I don't really understand where you get your appraisal valuations from, not only does your statement downplay the value of the name it also condescends the valuations of other appraisers. There are no decimals missing. We look at what the market expresses in sales and try to help other domainers make sound decisions, not put people down. I don't think you understand how to value domains.

Domain Price Date Venue
nycrentals.com 25,350 USD 2010-06-23 Moniker
nycapartmentsrent.com 12,401 USD 2015-03-07 Flippa
nyc.info 9,100 USD 2012-02-20 NameJet
nyccondos.com 7,000 USD 2016-05-15 GoDaddy
nycn.com 5,750 USD 2015-03-03 Sedo
nychotelnetwork.com 5,000 USD 2011-01-06 Sedo
nyccriminallawyers.com 4,995 USD 2013-12-08 Afternic
nyc.co.com 4,245 USD 2014-11-27 NameJet
nyconstructionlawyer.com 3,888 USD 2013-04-01 Afternic
nycarchitects.com 3,850 USD 2011-07-13 Afternic

It's worth 4-figs. I agree with the newphagocytes.

 

[MrNames]

Find me one of the known domainers from the past 10-15 years who would pay 3K for this name right now and it would be a miracle. Put together a list of 50 domainers and if there are three who are wiling to pay 1K for it right now I would be surprised. The number would be zero.

 

[todaygold]

You clearly don't understand how comps work in the domaining world.

Apparently you don't. Trends change in domaining. And apparently I'm not the only one on here giving it a low value. At least 2 other users, out of a what, whopping 5 users that posted, gave it low appraisals. So it seems pretty evenly split with low/high appraisals.

 

[slader23]

It's worth 4-figs. I agree with the newphagocytes.

Nah. Derivative comps sold for 4 figs. Its worth at minimum 3x what NYCCriminallwayers.com sold for in 2013.

 

[Jv1999]

Nah. Derivative comps sold for 4 figs. Its worth at minimum 3x what NYCCriminallwayers.com sold for in 2013.

Nu. It's only worth 4figs. I used SEDO appraisal service $60.

 

[Jv1999]

I sold a name for six figures in 2007. I have also sold three or four names for five figures. I bought my first domain in 2005. I would rather have $300 cash than NYCLawyers.com. I would probably take the name instead of $150. So, my true appraisal is somewhere between $150 and $300. That is a TRUE appraisal, not some nonsense that is found in most appraisal threads.

You tell him bud. U know what u sayin bout domaining.

 

[slader23]

Derivative comps mean zero. This isn't Manhattan real estate.

It isn't but the comparative sales are what we use to define price level and market trends. Derivative comps have definite value. One guy claiming to have sold a six figure name in 2007 means zero. At least I can make conclusions based on facts with comps.

 

[Domains - Wanted]

Having read all of the above, I stick to my initial valuation: $xxx - low $x,xxx.

This is not an appraisal in terms of theoretical, comparative studies and how much the OP could or should offer this name for. This is saying how much I could sell it for this month, after negotiation, starting out with, say, $7,500 going in. Would I leave money on the table? Possibly yes. I wouldn't care, busy using the proceeds to buy other names to flip. Rinse and repeat. But that's me. A minority report

I think OP is a lucky son of a gun. Not only does he hold in hand a pretty good domain, but he has come across many potential brokers, confident to sell this name for $xx,xxx. Great thread!

 

[slader23]

Not so fast. First, not all 'sales' are 'factual'...some are fakes. Second, you also need to know the backstory...a domain can sell for more than it's basic worth because of what it was previously used for, because of traffic, because of backlinks, etc. Third, a domain can sell for more than what it is worth because for whatever reason, it might be a 'must have' to one particular individual. Etc. etc. etc. You can't just go throwing out numbers like you are doing.

Right. Like I said, those are variables that cannot be quantified at the time of sale. I didn't throw around random numbers. Much like what other people have done, they look at comps as a gauge of what holds value and than discount/credit a name based on its value compared to previous names that have sold. What I don't like is your inability to account for comapritive sales and the fact that your actual valuation is baseless because there is no real substance to your actual appraisal since you only provide a value without any analysis behind it. In reality the valuation of domains is a multifaceted process but with names like this I use comps and then I compare it with rosener's equation and my own domainers intuition. Variables that can change at the flip of a coin should not be accounted for. When I say low to mid xx,xxx there is actually a real method to why I put out that number, its not just out of a whim, this is serious stuff.

The Rosener equation for example,


Domain Name Valuation = A x B x C x D


where:
A = Exact-match monthly search volume
B = Average CPC
C = Click-through rate
D=Payback period (12-24 months)


GAKP NYC LAWYERS--->Volume: 260/mo | CPC: $14.31
Assuming a 0.35$ click through rate for being 1st in organic searches on google and a payback period of 12 months.

NYCLawyers.com = 260x14.31x0.35x12
=$15626.52 (+/-30%)
Which is in line with not just my valuation, but that of others. Personally I'd ask for more but this solidifies the consensus valuation of the name. I always use this equation as part of my valuation tool set when looking at emds, discounting the value for ngtlds, cctlds and lesser gtlds.


*The Rosener equation determines the value of a premium generic .com domain name by approximating the value – for a given keyword or keyword phrase – of ranking in the No. 1 organic position of Google.

 

[todaygold]

The best offer I have had is for $55,000.

Getting an offer and getting a legit offer are two different things. There are plenty of tire kickers. And honestly, I find it pretty hard to believe you haven't gotten any lower offers than 8k. Something sounds pretty fishy if you haven't gotten people offering small amounts just to see if you would take it.

 

[slader23]

$15626.52. Wow! Cool

Which begs the question to the OP: how's this math compared to his earnings from this domain these past umpteen years? And why in the heck is he even contemplating selling this golden goose if he's making this kind of money each year ???
And if he's not making anything close to this figure, what's wrong with him?

lol ...undeveloped not sure what he'd be earning, but that equations outputting valuation should only be seen as a very, very rough guideline, it is definitely not absolute.

 

[Larry2]

The original owner of the domain was 78 years old. He bought it in '94 and never did a thing with it. Not even a 'for sale' landing page. It was just 404k page not found for 20+ years.
It's being sold as part of his estate that is being split amongst the kids.

 

[Larry2]

I'm sure I would get lowball offers if there was a "for sale" page up at the domain. I've only contacted appropriate serious buyers, hence the lack of lowball offers.

 

[Domains - Wanted]

The target buyer is a content marketing firm that will use the domain to sell ads to lawyers based in NYC. The marketing firm would invest in content to get the domain to page 1 of google for high-value keywords.

Like I've said before: great, eye opening thread!

 

[Larry2]

it's not a ton of traffic. but with only $5k invested to throw a site up, it's generated a dozen leads that have turned into high-value settlements.

 

[MrNames]

You did well, but I'm not sure the name created those leads. It fits what you were doing, but you seem savvy enough that you would have created those leads anyways, with whatever name you used. I'm glad there is more clarity here. The name fits what you are doing, and you have now built a business with an investment of at least 5K plus time and effort. So, you now have a business and not a domain name. The business is what is valuable.

 

[todaygold]

but with only $5k invested to throw a site up

$5k!?!? Please tell me you didn't spend $5k for that basic wordpress website?

 

[MrNames]

Believe it or not, most people here can't make the distinction between a domain name and a business. Once you are selling something that has a business with it, or will benefit from a business that has been recently used (similar line of business), then that is not a pure domain name, as the biggest value comes from the business that was built with time and money. So, this wasn't really a domain name appraisal. The people offering you the money will benefit from the work that you have done, and the money that you have spent. So, whatever they believe it is worth will determine the value. Most still won't understand what I have said even after I spelled it out.

It was only toward the end of this thread that I saw that it was a business and not an idle domain name like your first post said. The name did not bring as much value to your business as most here would believe. The name is not worth a lot as a stand alone name. Period.

 

[MrNames]

This reminds me of a thread at another forum about a worthless name Pizzerias.com. The owner said he had an offer for 40K (lie). The name is crap, as nobody looks for pizza by typing in pizzerias. In fact, nobody looks for pizza that way. I was proved right, as the goof was putting up national pizza coupons on the site (trying to). That name was worthless, but was very similar to this name.

What is funny is that there aren't any recent posts on that NYCLawyers.com blog (that I can see), so maybe it is fake. I don't care. I just know that the name as a domain name only isn't fooling anybody with a clue. If the business (that includes a domain name) is generating a ton of leads and multiple settlements, then you are a fool if you sell it for 55K (the business). But then again, this whole thing is potentially a big waste of time scam designed to create some fake interest, so you guys have at it without me. You should have stated the facts in your first post so I didn't waste time giving you a solid appraisal for a domain name.