Ready for some exciting news? GoDaddy is launching a new domain valuation tool to help you determine the value of your domains. All domain names have some kind of value. While the million-dollar headliners aren’t as common, the domain name in your pocket could be worth more than you think. Why? I like to think of domain names and their value like online real estate.
A beachfront condo in Miami is going to be more expensive than a condo in Cedar Rapids, Iowa, and a storefront in New York or Paris is going to cost you a lot more than one in downtown Lincoln, Neb. Zillow has made things easier to navigate when looking for a ballpark idea of your home’s value or the value of that condo in Miami, but until now, domain names have been harder to value in an automated fashion. Fortunately, GoDaddy changed that. We launched a free new domain valuation tool (now in Beta) that helps you figure out the value of the domain names you own — or one you might have your eye on.
GoDaddy Domain Appraisals
I think we all know why understanding the value of your home is important. If you’re planning on moving to another city or daydreaming of a house on the beach, checking the home’s value on an automated tool is really pertinent. When it comes to domain names, the uses might be less obvious, but there are some cool things you can use GoDaddy Domain Appraisals for.
If you own any domain names, you can quickly look up their value with GoDaddy Domain Appraisals and find out if you have any hidden gems. GoDaddy Domain Appraisals is now live in Beta. See what your domain is worth!
Maybe you’re sitting on one of those great names worth millions of dollars. Even if you don’t have a name worth millions, it’s a good idea to understand the value of your domains. You might find out that a domain you own is worth more than you initially thought.
You might want to sell your domain instead at a site like Afternic.com, which allows you to conveniently list your domain names for sale. If you have a good domain name, at some point you’re likely to get an unsolicited offer to purchase the domain. If you’ve used GoDaddy Domain Appraisals ahead of time, you’ll have a good idea of the value it holds and whether or not the offer is on point.
Knowing your domain’s worth might also come in handy when you’re looking to prioritize the renewals in your domain portfolio. You might even want to add extra protection to a domain name you own, like privacy, protected registration or added account security like two-step verification, to help further protect your valuable domains.
How does GoDaddy Domain Appraisals work?
At a high level, it operates in a similar fashion as appraisal tools in other industries do. These tools look for similarities in other goods that have previously sold somewhere, and then figure out how alike or different your object is. For instance, Zillow considers, among other things, the prices of the nearby homes that have a similar amount of space and amenities to determine an approximate value for your home. GoDaddy Domain Appraisals does the same thing, but with domain names.
Our algorithm uses both machine-learning and real market sales data to estimate domain values, providing you with comparable domain name sales so you can price your domains with confidence.
We also look at similar domain names based on the TLD and SLD — the words to the right of and left of the dot respectively (e.g., in the case of Cars.com, cars is the SLD and .com is the TLD). Each domain name is different, and we factor uniqueness (among other things) into the equation, too.
GoDaddy Domain Appraisals — an excellent domain valuation tool
GoDaddy Domain Appraisals is a great way to get an initial look at what your domain name is worth. While it’s still prudent to do your own analysis before determining the value of any domains, having this automated, efficient and free domain valuation tool at your disposal is a great place to start. Go ahead, see what your domain name is worth.
Also published on Medium.