I've always said that we are not selling domain names, but we are selling dreams. This means that the value is in the mind of the dreamer. Sometimes this is in the mind of the seller. For example - I looked up the first name that I registered (Reel Match .com), but I let it drop fairly soon, as I didn't think it was worth the renewal fee. I see it is up for sale at a price of $39,888, and I don't understand that valuation.