What’s good my fellow web entrepreneurs!
This is Ekene from ekeneweb.com and in this audio recording I’m going to over how to determine the value of your domain name.
I’m going to leave you with some quick tips to understand the value.
Believe it or not, when you’ve purchased a domain name you are an owner. Yes. An owner of virtual property. And, just like any form of property, it can be sold for a profit.
Well, the first tip I want to leave you with is to Beware of free appraisal services. They can sometimes be inconsistent, oftentimes arbitrary, and potentially misleading.
The next tip I want to go over is is how to determine the valuation.
Domains become valuable because of their brandability, need and potential resell value. If you’re new to the domain resell market, believe it or not, domain names exchange ownership for thousands, tens of thousands and even millions of dollars.
So, if you can somehow get your hands on a quality domain name, you will be in for a great return on investment.
I just want list off some of the most high valued recent public domain sales:
- SW.com went for $660,000 on 5/10/2017
- kohl.com went for $144,500 on 5/10/2017
- SportsCars.com went for $48,000 on 5/10/2017
And, the list goes on…
In short, brandability, need and potential resell value, will determine valuation.
Now, that last tip I want to leave you with is determining your price. Now, you can go to a broker, but I highly recommend doing it yourself to keep the profit.
Before you find a buyer, you’ll want to do a price comparison with comparable names. Sort of like what a realtor might do when determining a price for a home.
Some of the great resources will be godaddy.com , and even just googling domain prices to see what comes up. But, once you have comparable domains and their prices, you have a good gauge of what to price your domain at.
Hopefully this was helpful. If you have any questions, feel free to leave them in the comment section below. Other than that, I wish you the best of luck.
Peace and Happy Domain Flipping!