Domain Name valuation

[Tonearm]

I checked the first page of this forum, but didn't find any threads like this. It seems like it must be a common question, so I hope it's OK that I ask for some up-to-date info.

I'm interested in a pretty generic "retail-sounding" domain name. I've contacted the owner and he wants me to make an offer. Where do I go from here? I'm unsure of both how much the domain is worth in the domain name market, and how much it is worth to me and my business idea. Any advice?

[Macro]

There are a lot of domain valuation services out there but I have always found them less than 100% useful. Simple principles apply like .com is worth more than .co.kr, easily remembered names are preferable, hyphens within the name are not, and it shouldn't be stepping on anybody else's toes (eg: no violation of somebody's trademark). Other than that there is no strict science to it. It's pretty much what you are willing to pay and what he's willing to accept.... a bit of bartering perhaps.

[gvenditto]

Decide what it is worth to you. I realize that is hard and why you don't know what to bid, but that is the heart of it.

Don't let him decide what it's worth because then you'll over pay.

More than likely, you don't need this name. What's the name WalMart mean? Do they sell walls? Of course not. (Walmart is short for the founder's name plus market).

If your cash is tight, you are probably better off putting in the work to build the value of a name. You can always use a proper name.

Some people would argue -- and I agree -- that JandR.com is every bit as good a name as buy.com -- maybe better because it makes you believe there are people there who will stand behind your product.

I just had a choice between buying something from LogJamElectronics and AutoToys at the same price. I picked LogJam. The name didn't matter. LogJam's website was easier to use for ordering.