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Currently considering releasing my private domain appraisal tool, as a public service.
I'm trying to gouge the potential interest in this. Please comment with your opinion.
My tool is a bit different than what's out there. It's an appraisal tool made by a domainer (I am domainer, long time full stack developer and entrepreneur BTW so I'm in an unique position to build it). I've been using my tool for quite some time and will continue to use it. I'm very happy about its precision, and in most cases my own appraisal matches the tool with just about a hundred dollars difference or so.
I believe most tools out there suffer from the fact that they are made by tech people who are probably very good at what they do, but not domainers. I've been looking at their algo characteristics and I know that's not going to ever produce at least a roughly accurate result.
It's not perfect, no such tool is or will ever be; but I know already it is better than other tools in the market which only offer values that are not even in the range of their true value. It will be of tremendous help to those who are in their first years and can't properly appraise their investments, but also to more experienced due to extra feature and as an extra check for something missing or when you can't straight off put a price on it.
It took about one year to build and a lot of work. But it was worth it. I know you will say that all appraisal tools out there are BS, and I fully agree to that (not using any tools out there myself). But I know already that this case is different.
The tool is NOT for everything. It is geared for domain investors, mostly. Here are some characteristics:
- It is designed primarily for appraising .com domains, but it also offers .net and .org appraisals. It does not appraise ngtld's, nor do I have the interest to ever make it so. (Edit: It will probably be able to do that as well at some point, but the precision will not be as much as for .coms).
- The tool can offer appraisals up to $9K. However its best precision is in the 0... $5k range. Again I'm getting very close appraisals to the ones I make straight off out of experience.
- Internally it uses some factors that are similar with how domainers look at a domain. For example niche (crypto, finance etc), words, domain length and so on. Can't disclose the specific formula, but anyway it's a very different set. I've been training it with my own experience and the more time passes, the more precise it gets.
- The best precision is for 2-word based domains, no numbers, no hyphens. But it can also appraise 3-word and 4-word if you like. It automatically detects the words used in the domain.
- It is not designed to appraise high-value 1-word domains (BTW each of these is unique, and therefore it is prety much impossible to accurately appraise automatically any of that.)
- It will offer more than one price. I'm thinking of providing 3 prices, a recommended price (the main value), also a max price (For someone who is willing to wait longer to sell at max potential price) and a market price (for someone looking to sell quick). Matches how I price my domains to sell.
- The free version will allow up to 3 appraisals per day or something.
- There will be paid versions for $29, $59, $99 and $199 per month, each with more quota and potential features.
- There will be an API access for whoever needs that. (these last two characteristics aren't going to be much different from other tools out there)
- The tool does NOT provide SEO information, I don't care about that. Just the 3-price set I described, and also the words detected.
- For higher plans, there will be a feature to manually enter a domain if words are not detected properly (rare, but it happens sometimes with any such linguistic tool). You will be able to enter the words contained in the domain (say crypto sales .com) and it will provide the right appraisal in this case.
- There will be some other handy tools for domainers. It will camelcase and de-camelcase domains (e.g. CryptoSales vs cryptosales). Sorting the domains alphabetically and reverse, sorting by value, filtering domain lists to exclude blocked words (not limited to just a few, but you can use thousands if you want). The very same tools I use daily in my domain investment work. They are designed to process hundreds of thousands of domains at once, not just a few.
- I'm going to continuously update the tool to maintain its relevance as to current market and improve precision of appraisal.
The reason I'm considering releasing this tool publicly is that I'm considering stepping out of domain investment. Not that it isn't working, but I have more than one business and I'd like to get into something else. Having several SaaS tools in my closet, some of which can be scaled into the $10M+ range so I will be looking in that. It also consumes a lot of time and I'd be focusing on my higher value tools in this line.
Once I see that there is enough interest and firmly decide to do it, there will be a demo version for some time for members here to try out and verify accuracy. The estimated release time is 2 weeks from the moment I give the go-ahead and max 2 months for all whistles and bells in (API takes a bit more, and so is server scaling features).
Opinions? Pros, cons? Thanks in advance for any feedback!
I'm trying to gouge the potential interest in this. Please comment with your opinion.
My tool is a bit different than what's out there. It's an appraisal tool made by a domainer (I am domainer, long time full stack developer and entrepreneur BTW so I'm in an unique position to build it). I've been using my tool for quite some time and will continue to use it. I'm very happy about its precision, and in most cases my own appraisal matches the tool with just about a hundred dollars difference or so.
I believe most tools out there suffer from the fact that they are made by tech people who are probably very good at what they do, but not domainers. I've been looking at their algo characteristics and I know that's not going to ever produce at least a roughly accurate result.
It's not perfect, no such tool is or will ever be; but I know already it is better than other tools in the market which only offer values that are not even in the range of their true value. It will be of tremendous help to those who are in their first years and can't properly appraise their investments, but also to more experienced due to extra feature and as an extra check for something missing or when you can't straight off put a price on it.
It took about one year to build and a lot of work. But it was worth it. I know you will say that all appraisal tools out there are BS, and I fully agree to that (not using any tools out there myself). But I know already that this case is different.
The tool is NOT for everything. It is geared for domain investors, mostly. Here are some characteristics:
- It is designed primarily for appraising .com domains, but it also offers .net and .org appraisals. It does not appraise ngtld's, nor do I have the interest to ever make it so. (Edit: It will probably be able to do that as well at some point, but the precision will not be as much as for .coms).
- The tool can offer appraisals up to $9K. However its best precision is in the 0... $5k range. Again I'm getting very close appraisals to the ones I make straight off out of experience.
- Internally it uses some factors that are similar with how domainers look at a domain. For example niche (crypto, finance etc), words, domain length and so on. Can't disclose the specific formula, but anyway it's a very different set. I've been training it with my own experience and the more time passes, the more precise it gets.
- The best precision is for 2-word based domains, no numbers, no hyphens. But it can also appraise 3-word and 4-word if you like. It automatically detects the words used in the domain.
- It is not designed to appraise high-value 1-word domains (BTW each of these is unique, and therefore it is prety much impossible to accurately appraise automatically any of that.)
- It will offer more than one price. I'm thinking of providing 3 prices, a recommended price (the main value), also a max price (For someone who is willing to wait longer to sell at max potential price) and a market price (for someone looking to sell quick). Matches how I price my domains to sell.
- The free version will allow up to 3 appraisals per day or something.
- There will be paid versions for $29, $59, $99 and $199 per month, each with more quota and potential features.
- There will be an API access for whoever needs that. (these last two characteristics aren't going to be much different from other tools out there)
- The tool does NOT provide SEO information, I don't care about that. Just the 3-price set I described, and also the words detected.
- For higher plans, there will be a feature to manually enter a domain if words are not detected properly (rare, but it happens sometimes with any such linguistic tool). You will be able to enter the words contained in the domain (say crypto sales .com) and it will provide the right appraisal in this case.
- There will be some other handy tools for domainers. It will camelcase and de-camelcase domains (e.g. CryptoSales vs cryptosales). Sorting the domains alphabetically and reverse, sorting by value, filtering domain lists to exclude blocked words (not limited to just a few, but you can use thousands if you want). The very same tools I use daily in my domain investment work. They are designed to process hundreds of thousands of domains at once, not just a few.
- I'm going to continuously update the tool to maintain its relevance as to current market and improve precision of appraisal.
The reason I'm considering releasing this tool publicly is that I'm considering stepping out of domain investment. Not that it isn't working, but I have more than one business and I'd like to get into something else. Having several SaaS tools in my closet, some of which can be scaled into the $10M+ range so I will be looking in that. It also consumes a lot of time and I'd be focusing on my higher value tools in this line.
Once I see that there is enough interest and firmly decide to do it, there will be a demo version for some time for members here to try out and verify accuracy. The estimated release time is 2 weeks from the moment I give the go-ahead and max 2 months for all whistles and bells in (API takes a bit more, and so is server scaling features).
Opinions? Pros, cons? Thanks in advance for any feedback!
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