Okay, it may be a secret, but don’t we hope that the things that we possess, they can turn out to be immensely valuable? Maybe, the vase that you have stored in your attic, it’s worth can be thousands of dollars, you never know, right?
Jokes apart – apart from the vase, something as simple as a domain name can also turn out to be profitable, though you will have to know as to what makes a domain name valuable. And nah, you don’t have to pour through extensive research papers and reports to find out the worth of a domain name, rather, you will only need to do a little bit of research.
So, the thing is how you should value your domain name? What are the things that you need to look out for?
What is domain name valuation?
No matter what type of domain you plan on selling and how much is it worth, you will need to go through a process called ‘domain name valuation’. Also known as ‘domain name appraisal’, this method lets you know the estimated value of a specific domain name.
How to know the worth of a domain name?
Before selling a domain name, it’s of utmost importance that you should find out its value, and in doing so, will let you know as to what makes the domain name desirable in the first place.
But of course, you should do well to remember that with evaluations such as this, it’s not science, and the worth of a domain name will always be what the people are willing to pay, and the drawback is that the theory may not line up in the practical world; but by getting to know the estimated worth, you will get a handy estimation, so that you don’t end up trading for pennies.
Keeping that in mind, there are certain factors which are considered important when it comes to knowing the worth of a domain name.
Level of the domain name
If the domain name is a top-level, then, it must have the following extensions ‘.com’, ‘.edu’, ‘.org’, ‘.gov’ and ‘.net’. Domain name having the following extensions are common, but they are the most popular ones, and hence, buyers are always seen to gravitate towards them.
Traffic and popularity
The domain name that is about to be sold, if it’s attached to a specific website, then it’s for the best – the domain name will come with the existing audience, and the potential buyer can utilize that traffic for their site right away.
Moreover, if the domain name has been active for quite some time, then, it can also help in SEO purposes for the potential buyer, thus making the domain name all the more worthy.
Inclusion of right keywords
Inclusion of the right keywords in the domain name is one of the most important aspects when it comes to SEO, so, if the domain name consists of high-level keywords, then, this could make the domain name all the more desirable.
Brandability of the domain name
Almost all of the websites that are visited most today, all of them has clear, memorable and attention-grabbing names such as facebook.com, youtube.com, and google.com.
So, if your domain name is catchy and memorable, then, you can be sure of the potential buyers taking notice.
Spelling of the domain name
The domain name that you are about to sell, you should make sure that it is spelled correctly – you are not going to find any potential buyers when your domain name spells incorrectly and looks unprofessional.
However, sometimes, unexpected spellings work in the form of a domain name such as fiverr.com and tumblr.com – you can too, but you should make sure that they should be short and memorable, and be easy to spell it out.
Length of the domain name
The shorter the domain name is, the more potential buyers are willing to pay for it – but of course, it has to memorable and easy to share. You are not going to give zz89ytx.com a chance, are you, just because it’s short?
The above-mentioned points are all worth noting as you go on researching about the potential value of your domain name, though you should remember that these are not set in stone as the rules often change over time.
…and which leads us to the following question.
How the value of a domain name should be determined?
Getting to know the rules is all right, and even theory will help you – but to know the worth of your domain name, you will have to face reality.
First and foremost, you have to research what potential buyers are paying for domain names that are similar to yours. Thankfully, many renowned sites can help you in your endeavor such as DN Journal, Short Names and Domain Name Wire.
While DN Journal is noted for giving you derailed sales reports on the domain names that are sold during the past three weeks, Short Names shows you the sales reports on only short domain names, and Domain Name Wire will give you reports on sales of prominent and recent domain names.
Secondly, you can even take the help of ‘Domain Name Appraisal Services’ – it is a website that will enable you to find information about your domain name, and which will help you to estimate the value and compare the same to similar domain names.
Some of the most renowned websites are EstiBot, NamePros, and DomainIndex.
Getting to know the worth of your domain name helps when you are thinking of selling or you simply want to know the value of domain name. Take into account the above-mentioned factors and do a little bit of research, and you will get the answer on how badly potential buyers are willing to pay for your domain name!!