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It's easy to get prices on the Internet, but how good are they?
When it comes to the domain name investment industry, one of the key questions both buyers AND sellers ask themselves: how much is this domain worth?
Currently, there are two approaches when it comes to domain name appraisal and they both are problematic:
- Automated systems (bots): they use a computer algorithm to estimate the value, based on things like length (shorter names are more valuable, of course), common words on the internet, words associated with selling things (buyshoes.com is better than cleanshoes.com), etc etc. But the problem is, all these computer provided appraisals are just terrible. Many of us, when we were new to domain name investing, probably tried them. But all of them - GoDaddy, Freevaluator, EstiBot, Nameworth, DomainIndex - they are all so bad that no real professional will even consider using them.
- Human appraisal - these are more reliable, but EXPENSIVE. Typically this is $25 - $50 per domain. One time I saw a guy doing $1 appraisals, but who knows how quality those were. (Anybody can see they are a domain name appraiser, after all. ) At this point, I would really only trust a human to do it - but humans also disagree with eachother, have different experiences and opinions, and some people are honestly just going to be bad at judging things, too.
This is where Name Few comes in.
Name Few provides crowdsourced domain name appraisals. How exactly do we harness the power of the crowd to appraise domains? That's our secret sauce, and we'll be sharing more information about our processes later in the project's timeline.
We do NOT ask people "how much is this domain worth" but rather we figure it out based on complex mathematics and large amounts of collected crowd opinions.
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