homepage Welcome to WebmasterWorld Guest from 54.237.38.30
register, free tools, login, search, pro membership, help, library, announcements, recent posts, open posts,
Pubcon Platinum Sponsor 2014
Home / Forums Index / WebmasterWorld / Domain Names
Forum Library, Charter, Moderators: buckworks & webwork

Domain Names Forum

    
Domain Name Prices
domian name pricing, ridiculous
techiemon

10+ Year Member



 
Msg#: 1876 posted 4:30 pm on Apr 3, 2004 (gmt 0)

I found a domain name I wanted and wrote to the owner asking if the domain was for sale and if so how much they wanted for it. Indeed the domain is for sale, but they said it was USD$49,000. I feel this is absolutely ridiculous, but I must ask all of you out there is this normal? It is a five letter .com name. I would like to report them to someone but I think there's no one to report them to. If they really don't want to sell it then they should just tell me, but they even refered me to a place where I can purchase the name from them.

Any thoughts?

 

ganderla

WebmasterWorld Senior Member 10+ Year Member



 
Msg#: 1876 posted 4:55 pm on Apr 3, 2004 (gmt 0)

Would you report somone who wants to sell you a used VW for $89,000. Someone can charge as much as they want. You can buy my main domain for 1 million dollars. Why one million? I think that is what I think it is worth. If you think it is too high, then quite whining and don't buy it.

BriGuy20

10+ Year Member



 
Msg#: 1876 posted 6:28 pm on Apr 3, 2004 (gmt 0)

Techie:

Not sure if you're at all interested in doing it, but Sedo does a domain appraisal service where they can appraise the value of the domain name you're looking at. It costs about $40 for a comprehensive domain name appraisal, but it should give you a good idea of what its worth.

Its not out of the question to see domains going for that much, though. One recently went for six figures on Sedo.

Also, sometimes the seller will set a high price so that negotiations will end up approaching what they wanted in the first place. Perhaps that's what this person is doing now.

tombola

10+ Year Member



 
Msg#: 1876 posted 8:30 pm on Apr 3, 2004 (gmt 0)

It is a five letter .com name.

Is this a real English word, or an abbreviation?...
This would make a huge difference.

Webwork

WebmasterWorld Administrator webwork us a WebmasterWorld Top Contributor of All Time 10+ Year Member



 
Msg#: 1876 posted 8:45 pm on Apr 3, 2004 (gmt 0)

Appraisal services aren't worth what they charge. The market hasn't matured to the point where these services have enough comparables to make their numbers work. Save your money.

You can get a reasonable and "free" estimate of what a domain might resell for by looking at the domain pricing for similar domains at BuyDomains.com. They are the largest reseller in the market.

Any individual can ask for the moon for a domain. It only matters what someone will pay. A large number of fools hold onto domains like they are winning lottery tickets, afraid to actually present them for payment for fear that the dream will evaporate. The dream is their asking price. Reality is 99.9% of the dreamers are holding onto junk, as evidenced by the fact that they only ever sell a small percentage of what they registered.

There's probably 3,000,000+ domains being held for resale. I would venture that in a given year only 1% of the domains are actually resold, and of that 1% the vast majority are resold for >$1,000.

If you want to see reports of sold domains take a look at the archives of the Domain Name Journal.

[edited by: DaveAtIFG at 11:43 pm (utc) on April 3, 2004]
[edit reason] Removed unlinked commercial URL [/edit]

chicagohh

10+ Year Member



 
Msg#: 1876 posted 10:04 pm on Apr 3, 2004 (gmt 0)

Afternic also has a list of all the domains they have sold.

techiemon

10+ Year Member



 
Msg#: 1876 posted 3:35 am on Apr 4, 2004 (gmt 0)

Thanks all for your reply.

The domain is not one word, actually it's two words put together but the first word isn't even a real word.

Who ever owns the domain will probably be sitting on it for years and years and years, I certainly won't pay that kind of money to buy a domain and my guess is a lot of people won't. Maybe in a few months I will try again and see if I can get it for $20.

cabbagehead

WebmasterWorld Senior Member 10+ Year Member



 
Msg#: 1876 posted 12:12 am on Apr 5, 2004 (gmt 0)

I personally don't see the problem. You cleary want the domain name and he wants to sell - just that you have two different opinions as to the value of the name. Basic economics in a free market economy suggest that the value of any good is what the buyer and seller agree to. If he can't get what he's asking, he'll eventually lower the price and if you can't get what you want, you'll eventually raise your price. That's how the market works. There is nothing to report. Its no differen than real estate.

cabbagehead

WebmasterWorld Senior Member 10+ Year Member



 
Msg#: 1876 posted 12:13 am on Apr 5, 2004 (gmt 0)

also - regardin valution services - yes, it's all speculative but generally you can get a good concensus if you get values from a few different sources. Key thing to remember is this is a speculative market. Even if the values vary widly, even just getting a ballpark will help.

Dan_Norder

10+ Year Member



 
Msg#: 1876 posted 1:00 am on Apr 6, 2004 (gmt 0)

techiemom, if it's two words in five letters, with first being a made up word, it's very likely that the name isn't worth what he's asking for it. But then he owns it, he can ask whatever he wants.

I can be pretty sure that you will never ever get it for $20 though. That's simply ridiculous. The cheapest I go on even a crappy name I don't want is $50, just to cover the time it'd take to transfer ownership. If you can't pay at least that, no matter how bad the name is, I'll let the name drop (in which case someone watching drop lists will probably grab it within a day or so and register it before you ever know it's even available) before I would ever let you have it at that price. If there's any value at all to the name I go minimum $100, and it keeps going up from there.

The only thing worse than some joker trying to sell someworthlessname.com for a half million is some cheapskate who doesn't understand the domain name market trying to buy a name for next to nothing and insulting the owner over it.

techiemon

10+ Year Member



 
Msg#: 1876 posted 1:31 am on Apr 6, 2004 (gmt 0)

$20 would be a starting price, I can accept to pay $50. I didn't insult the guy either, I just won't pay 50k for a domain name no matter what it is.

chicagohh

10+ Year Member



 
Msg#: 1876 posted 3:16 am on Apr 6, 2004 (gmt 0)

I just won't pay 50k for a domain name no matter what it is

Oh, I would in a heart beat. The trick is knowing what to do with a 50k name.

One of my competitors has a name that I (and more importantly, my wife) would have no problem dropping 50k to secure it. Of course, my competitor will never let it go because just the type in traffic alone would bring in over 50k per month.

Dan_Norder

10+ Year Member



 
Msg#: 1876 posted 7:53 am on Apr 8, 2004 (gmt 0)

$20 would be a starting price, I can accept to pay $50. I didn't insult the guy either,

You miss my point. $50 minimum for crappy name of no value just for the trouble of transferring it. The kinds of numbers you are talking about are an insult to anyone who owns domains and knows what they are worth. This is a five character .com name that you evidently want, so odds are it is worth tons more than $50.

I mean, presumably you want to put a site there. If a piece of land is good enough to build a house on, presumably it's good enough to pay real money for. There's no difference.

I just won't pay 50k for a domain name no matter what it is.

Then you'd never get a good name. Lots of people do pay those kind of prices, so for you to be complaining about it is rather pointless.

Again, no telling if the particular name in question is worth that much without more info, but lots of names very clearly are worth that or more.

cabbagehead

WebmasterWorld Senior Member 10+ Year Member



 
Msg#: 1876 posted 8:32 am on Apr 8, 2004 (gmt 0)

By the way - I have some .us domains that I know would be worth a lot of money if they were .coms (e.g. hotel.us, air.us, taxes.us, photo.us, etc.). Anyone know how much these are worth and if there's any pickup for the .us domain market on the horizon?

I've recieved an estimate from afternic for hotel.us but there's a current market and potential market value and the difference between the two is huge. (400%). Not quite sure what to do with those numbers. And, not sure if the domain market will ever come back to where in was in 1999. Any thoughts?

sidyadav

WebmasterWorld Senior Member 10+ Year Member



 
Msg#: 1876 posted 4:44 am on Apr 9, 2004 (gmt 0)

The domain is not one word, actually it's two words put together but the first word isn't even a real word.

If you don't want to buy it, maybe you could put a hyphen after the first word and register that?

Will cost $7USD only, and if the guy who owns the current domain that you want hasn't registered a trademark - even better!

Sid

ergophobe

WebmasterWorld Administrator ergophobe us a WebmasterWorld Top Contributor of All Time 10+ Year Member



 
Msg#: 1876 posted 7:06 pm on Apr 13, 2004 (gmt 0)

I have some domain names that people occasionnally make offers on. These domain names are "worthless" to me in terms of commercial value. I will never make money on them. I suppose, economically, I should *give* them away.

But I just like the names and it's worth $7/year to keep them. I have the vague idea that I might someday do something, or someday update what I did eons ago and is sitting there rotting. I might not.

People ask how much, and I give a price based on how I feel that day, but I don't think I've ever offered to sell for less than $500. If the domain were only worth $50 to me in the first place, would I have bothered to register it and pay for it for 5 years? Of course not.

When some guy wrote to me with all sorts of bizno mumbo-jumbo, I told him $3000 Why? Because I didn't like him. There is nothing illegal in quoting someone a higher price because you don't like him. I know people who offer professional services who do it all the time. It just isn't worth it to them to hassle with difficult people at their normal fee. Those difficult people are welcome to find someone else or, in this case, choose another name.

junobear

10+ Year Member



 
Msg#: 1876 posted 4:56 am on Apr 14, 2004 (gmt 0)

Somewhat related: Through a mix up and some stupidity on my part, I lost a domain I had for 5 years. (I thought it had transfered to my new host and the old host wanted a confirmation). I don't use it much but heck, I'd certainly want to keep it. So I contacted the new owner and haven't heard back after a few days. Any thoughts?

esllou

WebmasterWorld Senior Member 10+ Year Member



 
Msg#: 1876 posted 12:06 pm on Apr 14, 2004 (gmt 0)

ergo, you sound the same as me. Can't be dealing with these idiots

one guy approached ME over a domain name. Had it on ebay for one week months before....no idea how he found out about it. is a good name but I was asking a realistic $500 for it - unlike the clowns on ebay asking $20,000 for gr8-savings-r-us.com and the like.

replied saying, "yeah, let's do business. $500" and he comes back to me with, "ridiculous price, go and get a full appraisal at a minimum of three domain name appraisal sites and get back to me" to which I replied, rather acerbically, "excuse me, who came to who with this offer? I will await your appraisals from FIVE sites!"

ps...the name is along the lines of world-cup-2006.com for an upcoming, hugely commercial sporting event. so it is time limited to around 18 months' use I reckon...but I think the $500 was actually a damned reasonable price considering.

bill

WebmasterWorld Administrator bill us a WebmasterWorld Top Contributor of All Time 10+ Year Member



 
Msg#: 1876 posted 4:07 am on Apr 15, 2004 (gmt 0)

That whole appraisal thing is a scam esllou. There have been a few posts about it here...like this one: Do you need an appraisal to sell a site [webmasterworld.com]

cabbagehead

WebmasterWorld Senior Member 10+ Year Member



 
Msg#: 1876 posted 4:48 am on Apr 15, 2004 (gmt 0)

Why is it a scam? You don't know what the market value might be ... and you pay someone in the know to estimate. Its a service - albeit not an exact science - but it would have never occured to me to call it a scam.

bill

WebmasterWorld Administrator bill us a WebmasterWorld Top Contributor of All Time 10+ Year Member



 
Msg#: 1876 posted 5:34 am on Apr 15, 2004 (gmt 0)

...read the thread I linked to cabbagehead...The scam is clearly laid out therein...

cabbagehead

WebmasterWorld Senior Member 10+ Year Member



 
Msg#: 1876 posted 6:53 am on Apr 15, 2004 (gmt 0)

Yeah I read it...and of course there can be scams that involve appraisals but then again I know of scams that involve email too ... doesn't mean that email is a scam, just a tool. Back to the whole 'guns dont kill people' argument I suppose. I understand where you have to be careful with them, but I don't see where its inherently bad. Just my $.02.

bill

WebmasterWorld Administrator bill us a WebmasterWorld Top Contributor of All Time 10+ Year Member



 
Msg#: 1876 posted 10:11 am on Apr 15, 2004 (gmt 0)

I'm not saying that appraisals in general are necessarily a scam...the situation esllou ran into where the buyer demanded an appraisal was most likely a scam...it is highly probable that this buyer also conveniently provided a list of appraisal sites, including his own. This guy wasn't going to buy a domain...he was fishing for business. That's a scam. If someone wants an appraisal for a domain I hold they can do it themselves.

Webwork

WebmasterWorld Administrator webwork us a WebmasterWorld Top Contributor of All Time 10+ Year Member



 
Msg#: 1876 posted 11:06 am on Apr 15, 2004 (gmt 0)

In the absence of sufficient comparable sales domain name appraisals are mostly an art, not a science. The appraisal firms attempt to sell domain appraisal as science. That's where they verge on a scam. They crank out wordy reports that IMHO are pure BS. The appraisers know what? From what experience? They own how many 1000s of domains? They've sold how many domains themselves? They've negotiated how many sales themselves? They have received X offers on the 1000s of domains they hold?

No. Most rely on the few reported sales.

What a crock. Don't waste your money. Ever. Find someone who actually has some substantial direct experience owning, buying and selling domains.

esllou

WebmasterWorld Senior Member 10+ Year Member



 
Msg#: 1876 posted 3:17 pm on Apr 15, 2004 (gmt 0)

bill

yes, he suggested two "example" appraisal companies. I smelt a rat immediately (bit of a cynic I am!) and hence me penning on my previously quoted mail to him.

I agree with what has been said. If you want to buy a second hand car, it is you who goes through motoring web sites and second hand car magazines and consumer articles to see if $5000 for that particular Ford is a rip off or not. You most certainly do not approach the seller and ask for signed certificates from two independent appraisers proving its worth.

cabbie

WebmasterWorld Senior Member 10+ Year Member



 
Msg#: 1876 posted 10:37 pm on Apr 17, 2004 (gmt 0)

Even among experienced domain sellers their is much discrepancy about the value of a domain especially if there is no measureable traffic.
I put a value on my domains on what i am prepared to sell for.As simple as that.
Anybody who thinks its ridiculous are entitled to their opinion.Only time will tell who is right.

junobear

10+ Year Member



 
Msg#: 1876 posted 12:41 am on Apr 18, 2004 (gmt 0)

OK. Putting aside appraisals for a moment: How bout if someone has a domain you want (perhaps once had yourself), contacts you that they now have it. They throw out a figure for it. What's the protocol? Does one counter-offer? Is that bad form?

esllou

WebmasterWorld Senior Member 10+ Year Member



 
Msg#: 1876 posted 12:50 am on Apr 18, 2004 (gmt 0)

why on earth should it be any different from the "real world"?

counter offer...that person can then tell you to run and jump...or can deal with you. or you pay up the original asking price.

Global Options:
 top home search open messages active posts  
 

Home / Forums Index / WebmasterWorld / Domain Names
rss feed

All trademarks and copyrights held by respective owners. Member comments are owned by the poster.
Home ¦ Free Tools ¦ Terms of Service ¦ Privacy Policy ¦ Report Problem ¦ About ¦ Library ¦ Newsletter
WebmasterWorld is a Developer Shed Community owned by Jim Boykin.
© Webmaster World 1996-2014 all rights reserved