GoDaddy Express Domain Name Appraisals - Why did I do this?
There are still times in life when you’re left with the telephone as the most efficient medium of communicating with your domain registrar. Before engaging GoDaddy customer support with Alexander Graham Bell’s 19th century technology, I often feel a twinge of adrenalin flowing in my veins because I know that their ultimate goal is to get me to renew my domains. It doesn’t matter if I have autorenew turned on. It doesn’t matter if I don’t care and my house is on fire, the question always comes. And it always begins with:
“I see you have some domains here that are coming up for renewal…”
This time the GoDaddy rep caught me off guard when he mentioned a special deal that would allow me to get an Express Domain Name Appraisal. Interesting, I thought. If a domain I owned were worth millions, I’d want to know about it. Wouldn’t anyone? I spent about 15 minutes negotiating with the guy and ended up spending $71.48 for 9 years of domain renewals and 4 Express Domain Name Appraisals. I figure I got pretty good value on the domain renewals alone, but the domain appraisals left me scratching my head.
“This appraisal will allow you to bid with confidence on an existing auction or set an appropriate asking price for your own auction.”
How liberating. I can now set an appropriate asking price of between $84.00 - $260.00 for clickfire.com should I ever decide to sell the domain. I can just see myself staying up all night trying to decide if I should let my nearly decade old, content laden, labor of love sell for for a two digit figure or retire early on the profits of the three digit figure.
What’s the Methodology to the Madness?
“Our rating methodology includes metrics found at all domain appraisal sites as well as proprietary factors available only from the #1 registrar in the world, GoDaddy.com”
That’s it. Besides briefly referring to ”comparable sales” and “recent trends,” the only other hint at methodology precedes the above where GoDaddy indicates that the domain appraisal is:
“based on a variety of factors related to the name itself. We have compared the name to recent sales of similar domains, evaluated recent market trends, and applied a desirability factor based on these trends.”
Can’t I get some details on how the value of my real estate was determined?
The quote is later stated to be independent of any associated “brand equity, revenue, income or profits” in case that weren’t obvious.
GoDaddy Appraisal? Stop Mother, it’s a termite inspection!
April 9th, 2007 at 3:09 pm
where to get the appraisal?
April 10th, 2007 at 9:15 am
[…] came across an article from Emory Rowland, who publishes ClickFire.com. He discusses the inevitable sales pitch at the end […]
April 13th, 2007 at 9:15 pm
Emory, I’ll go as high as $267.83, but that’s my final offer. I want to help with the retirement plans after all.
April 14th, 2007 at 6:08 pm
Let me check with my financial advisor :)
April 17th, 2007 at 9:14 am
Wow, talk about sweat equity. You’re making about a penny and hour on your efforts if that. You might as well take Steven’s offer. ;)
April 24th, 2007 at 2:29 pm
Great! That means my North Georgia site that’s about 2 days old is worth about .98 cents.
May 28th, 2007 at 5:26 pm
[…] commercial services I do not list because it is obvious they don’t work very […]
June 5th, 2007 at 12:06 pm
I decided to try to protect people from using GoDaddy’s paid domain appraisal service. I paid them for an appraisal that was completely worthless. The domain name was valued at about 10% of the price I ended up selling the domain name for. Fortunately, my common sense told me how wrong their appraisal was, but had I followed their advice, I would have sold the domain for 90% less than the true value (ad proven by the market). Even laymen could see the value of my domain, and I truly think that GoDaddy’s appraisal system is just a machine that doesn’t necessarily recognize a solid domain name. I gave them a second chance by asking them to take another look, but they stuck with their wildly low value and didn’t offer any refund when I told them it was much much lower than offers I had received (which proves the invalidity of their appraisal).
Otherwise, I like GoDaddy’s domain services, but STAY AWAY from GoDaddy.com’s PAID appraisal service!!!
August 11th, 2007 at 10:19 am
[…] having lots of fun with the figure, especially after the depressing score received a recent Godaddy appraisal ($84 - $260). The DNScoop tool does have some real value in that it reports data of interest to […]
August 27th, 2007 at 6:25 pm
We also do appraisals, depends on market for them, the name itself, if its easy to remember, if its a .com,does it get traffic, etc. If someone wants your domain name and they see a big value for their business, they will make you a great offer for it.
We also sell domains and websites. Listing, membership is free, domains/websites are free to list until sold, and you can register names, transfer registars, etc. Please visit us at: Bidz247.com
January 30th, 2008 at 2:57 am
I buy and sell domains for a living. I generally sell privately with my own marketing but have also used Moniker or Sedo. My cohorts and I keep a close eye on http://www.dnjournal.com/archive/domainsales/2007/ytd-sales-charts-2007.htm
to see what the market is doing.
Although I do use Godaddy for all my domain name purchases, I had not used them for appraisals…until I began negotiations with a company who wanted to acquire one of my very special domain names.
I submitted my name to godaddy and also to another company for certified appraisal, just for kicks. Oh, let it be know that the company that wants to buy my name (universally popular name), had offered me a 6 figure amount.
When I opened the email from Godaddy, and looked at the appraisal I almost fell on the floor. Their certified appraisal came in at $810-$2,340!!! The appraisal from the other very successful appraisal company came in at $85,000-$196,000.
I spoke to godaddy about this rather large discrepancy and questioned them as to their actual appraisal criteria and I was given a big song and dance. I explained to them that they were cutting their own throats by giving such low ball appraisals. These names are like real estate….they just ain’t making no more. And if they are trying to get into the market of domain resale, at 10% comission, then they really need to rethink how they are appraising these names. This is big business now and will only get more profitable as the net takes over the way we buy and sell and communicate. Can we say MySpace!
I also shared with them that I went to their site and did a quick appraisal on a 5 letter domain name that I once owned and it came in a $50-$200. The same domain that I sold 2 years ago for $25,000! Had I sold it through Godaddy they would have made $2,500 on the deal!
Needless to say they gave me a refund for my appraisals.
March 26th, 2008 at 2:17 pm
I have been going over this for weeks now. WHo do you trust? Who do you goto? I mean if someone has 1000 domains do they REALLY get them ALL appraised for what $20 a pop? That to me is just ridiculous. And you cant trust the free ones (obviously) they all say different things too. Nameboy appraised one of my domains for free for $8k. Then someone else did a consultation and told me $1-3k. Then he said “Im not a professional tho so get a paid one” so I did. Went from $8k to $700 lol. So now I dont know wth im doing. Im really confused and none of these so called “professionals” are willing to just help someone out by letting them know “your domain sucks” or “your domain is awesome, sell it!” It makes me nauseas and dizzy and overwhelmed. I was told recently that “if you do a bulk appraisal you can get $5 off”. Hm. $15 per domain is still a lot. BTW I tried DIGITALPOINT for a FREE appraisal and no one was of any help. In fact I got laughed at.. twice for the domain I listed. Dont cha ever wish there was a “do now pay later” option lol. Tell me the price now, and when I sell it Ill give you the money!
Nope.