The million-dollar question! Thousands of people who’re in the domain industry asking the same exact question to themselves every single day. How much is my domain name worth?
The answer is far away from being simple. Because domains are not like chocolate-chip cookies or any other consumer products we use or eat every day. A brand or a company can produce millions of cookies at the same time and a person from the United States and a person from Germany can eat the same cookie at the same time. You can calculate the exact production cost for a cookie, table, or computer. That’s not the same for the domains. Registration/renewal prices are the only things we can take into our pricing. Other than that:
Every single domain is unique and so do their values: That’s the reason you see a huge price difference between very similar domains.
Even a single letter/number might increase or decrease the value significantly: There’s a huge value difference between Credit.com and Credite.com.
There are lots of extensions: .COM is still the king. However, there are more than 1000 extensions you can register/purchase.
There are unlimited word combinations, selections: Games.com, CookingGames.com, CookingGame.com, PlayCookingGames.com, PlayCookingGame.com, BestCookingGames.com, TheBestCookingGames.com…
Trends are changing every year even every day: The current value of PolyphonicRingtones.com is way lower than what it’s worth 15 years ago or the current value of AltCoins.com is way higher than what it’s worth 5 years ago.
Those were the days the only thing you needed to have an exact match domain to make money and to be the rank 1 in the search engines. Those days are gone for a long time ago.
Market potentials are different: There’s a decent value difference between Car.com and Keyboard.com or, Pencil.com and Diamond.com.
Geographic and Language factors should be considered: For instance, Gambling is illegal in Turkey while it’s very popular in some countries in the world. Even you have the best “gambling” domain name in Turkish, that domain doesn’t worth a penny there.
Moreover, there are lots of criteria to appraise a domain name such as length, search volume, radio test, similar past sales, etc. as we mentioned in our other blog post which you can read here.
Additionally, to be able to answer the big question, decent domain knowledge, market knowledge, experience, and time are required.
Eventually, if you have decent knowledge about the domains you should be able to make your own research and find out the answer. Otherwise, you should consider getting a professional domain appraisal to make sure what is your domain name worth.