Are GoDaddy Appraisals Accurate?

[thomjo]

Hi guys,
I recently registered a new domain and just out of interest got a GoDaddy appraisal which values the domain between $192 - $578.
I am not currently using this domain for anything so would be interested in selling it.
It is in the food recipe niche.
Do you think I should try sell it or build a website with it?- What is the best way to monetize the website?

Thanks,
Josh.

 

[jjjrmy]

I'd build a website for it.

 

[l7ucid]

Kind'a hard for us to appraise it when we don't know what it is. Mind sharing the full domain? some people on here may be interested

 

[AnotherOne]

Create a website over that domain and then flip it after 4-6 months

 

[steelballs]

Appraisal is often a lead in technique to get someone to buy something they do not need...

Maybe not a scam but often worthless caveat emptor buyer beware...

 

[Furious George]

I agree with steelballs.

This is not something that has a quantitative value like a diamond or gold, IMO. There is no true market value for a domain name.

If you paid 10 dollars and want to monetize it, it will be worth what you make of it.

 

[watley]

Very unlikely.

I have a large amount of knowledge in domains. Shoot me a PM and I'll evaluate it for you.

 

[twittertweak]

No, because you can buy most domains for a few bucks from godaddy, and then the appraisals are instantly at least twice of what you just paid for it...
It's only worth what somebody will pay for it...

 

[thomjo]

Okay thanks for all the information guys . Think ill try build the website and just earn a steady side income

 

[BigDim]

I think you should try selling it yourself first and then if you dont sell it use GoDaddy offer.

 

[bryanon]

Always remember this - automated appraisals are NEVER accurate, especially when talking about something as subjective and un-measurable as domain names.

If you truly want your domain name appraised then either post it hear or seek for a professional appraisal service. Odds are, though, that the domain name is worth exactly as much as you paid for it, if not less. By any means I don't want to discourage you, it's just that this is the case with 99.999% of domains (and I'm not exaggerating!)

 

[AmericanMaster]

Been flipping domains and websites for on and off for over 15 years.. Great way to earn extra money or full time. Lots of great facts on BHW! Enjoy your weekend. Regards. AM

 

[rans333]

It depends on the time you're willing to wait until banking out. Got the time and willing to make an effort? Work on your site, improve your stats and earn more when selling it.

 

[mikeydell]

If I was you OP, I certainly take any appraisal that godaddy gives you with a grain of salt. Half the time they inflate the prices in a lame attempt to get you to join godaddy auctions so you can sell it and give them some more cash for a auction membership.

 

[thomjo]

If I was you OP, I certainly take any appraisal that godaddy gives you with a grain of salt. Half the time they inflate the prices in a lame attempt to get you to join godaddy auctions so you can sell it and give them some more cash for a auction membership.

Thats a good point- was thinking about this earlier.

 

[Jumby]

Godaddy definitely inflated the appraisal they have me a while ago. Like someone said above it's only worth what someone else is willing to pay for it.

 

[bartosimpsonio]

I am surprised to see godaddy recommended on several threads of this forum. Personally I'd be wary of anything involving godaddy.

About OP's question: If I were a buyer, godaddy appraisals wouldn't be worth jack s**t to me. Like others said, domains are worth what someone is willing to pay. If it coincides with a name someone REALLY wants, you may get good cash for it, otherwise it's just a brand name with no soul.

 

[aroizmx]

They appraise only the domain the owned super expensive, go to other place godaddy is too bad.