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Are GoDaddy Appraisals Accurate?

Discussion in 'Site Flipping' started by thomjo, May 19, 2013.

  1. thomjo

    thomjo Newbie

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    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.
     
  2. jjjrmy

    jjjrmy BANNED BANNED

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    I'd build a website for it.
     
  3. l7ucid

    l7ucid Junior Member

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    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
     
  4. AnotherOne

    AnotherOne Senior Member

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    Create a website over that domain and then flip it after 4-6 months ;)
     
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  5. steelballs

    steelballs BANNED BANNED

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    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...
     
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  6. Furious George

    Furious George Supreme Member Premium Member

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    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.
     
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  7. watley

    watley Power Member

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    Very unlikely.

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

    twittertweak Newbie

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    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...
     
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  9. thomjo

    thomjo Newbie

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

    BigDim Newbie

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

    bryanon Executive VIP Premium Member

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    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!)
     
  12. AmericanMaster

    AmericanMaster Newbie

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    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
     
  13. rans333

    rans333 Registered Member

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    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.
     
  14. mikeydell

    mikeydell Senior Member

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    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.
     
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  15. thomjo

    thomjo Newbie

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    Thats a good point- was thinking about this earlier.
     
  16. Jumby

    Jumby Junior Member

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    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.
     
  17. bartosimpsonio

    bartosimpsonio Jr. VIP Jr. VIP Premium Member

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    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.
     
  18. aroizmx

    aroizmx Newbie

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