DomainAppraisal.co.uk Launched - Feedback much appreciated

[viman]

Hi,

I have recently (today) completed the development of http://www.domainappraisal.co.uk website.

The database has over 21 million keywords and phrases. But of course it does not cover everything . for example asdasdasd.com would not be covered. But it will get logged and then every few days I will get the data for it. Ideally in the next phase of development I will automate the script so that the data is captured directly and valuation provided.

Kindly review it. Your comments will help me improve it.

Thanks,
Viman

 

[katherine]

While I applaud your development efforts, I think the very idea of automated appraisals is flawed and I wonder why people still waste their time. Nobody will ever come up with a reliable tool.
Who actually uses such tools ? Anybody who takes the results seriously should find another hobby. They are only for entertainment value. Personally I find that the time and effort could be diverted toward more productive use.

As an example here is the result for sex.com.

$19195310.00 / £12093045.3 / €15164294.9 (Approximate Conversion)

How was that amount derived ? It's more than the reported sales price and it was overpaid at the time.

The design is okay, straight and to the point. The biggest problem is relevance.
Like other similar tools, the websites operated under a black box model - there is no outline of the 'thought' process, the valuation methods and algorithms involved. The only data shown is search volume, which is definitely not the sole measure of value.
That's why I think automated appraisals are newbie traps, they do nothing to teach how to understand and assess the value of a domain name. You just punch in a domain and you get a magic number in return. But you cannot explain the result.
I hope you are not buying or selling based on that tool.

 

[viman]

Hi Katherine,

Thanks for the feedback. I agree that end of the day the price is what the buyer is prepared to pay and sellar prepared to accept. The tool is more to be used as an indicator. It does heavily rely on search data for keywords.

I will be updating the algo every few weeks based on past selling price to get the valuation closer to real sell value so hopefully it will get better with time. The idea is that this is just one factor when considering selling or buying and not the only factor.

Thank you for your long and useful feedback.

 

[Biggie]

I agree that end of the day the price is what the buyer is prepared to pay and sellar prepared to accept.

since so many re-quote that phrase, maybe it's why so many believe it to be true.

 

[katherine]

All right

The same domain in estibot is appraised at 7M, that is half of reported sales price and significantly less than your tool. The gap in value is considerable.
If buyer and seller were to abide by these tools, each would pick the one that is most favorable to them. At the end of the day, there is no consensus on value. Which one should you trust, especially when none of those explain the pricing ?

There is nothing wrong with extracting metrics or fetching comparable sales for similar domains in order to gauge potential. The problem imho is when the tool tries to put a price tag on the domain.

 

[viman]

The buyer and seller would of course pick on what will suit them both. In some cases they will find a common ground and in some - no deal.

It was intersting to note that Estobit values it at 7M, previously it sold for 13M (I think), Valuate values it at 13M and my tool values it over 15M. Ideally I want to use the previous sell price of domains to be used as part of valuation to normalise the estimated value provided by the tool. It gives a more realistic value and that is definitely something I want to use when I update the algo to take into account previous sell price.

And this I think does then give an indication (kind of starting point) along with other factors that a buyer or seller need to consider.

 

[Tia Wood]

Record for this domain is not available right now. Please try again in 48 hours.

* What is the reason that you can't pull up the domain information? This is not user friendly. Have you considered temporarily pulling from another source to fill the gap? Or at least ask the user to provide an email address so the site can notify them when a domain valuation does become available?

* The logo could use a little work.

Please note that our domain appraisal service is an estimated value and this can differ significantly from actual sale price. No warranty is provided, either expressed or implied, as to the accuracy of the domain appraisal value provided through our tool. This is to be used as an indicator. At the end of the day, the best price of a domain is the maximum amount of money a buyer is willing pay and a seller is able to get.

A+ for honesty.

 

[viman]

* What is the reason that you can't pull up the domain information? This is not user friendly. Have you considered temporarily pulling from another source to fill the gap? Or at least ask the user to provide an email address so the site can notify them when a domain valuation does become available?

* The logo could use a little work.




A+ for honesty.

Tia - thanks for your comments.

As part of next update, I will be looking to get the data updated every few hours. I do capture the domains that cannot be appraised and then get relevant data for it every 2 days. Currently its a manual process but this will be automated to run at least few times a day if not more. Just question of time - I suppose :-(. For now I will run it once a day.

Asking for email details is a good idea. Maybe I can cover that in next phase whereby I can inform registered users that the missing information is available for appraisal.

The logo - hmm I really should hire a professional.

BTW, I was just stating the obvious that such tools are good to get some indication but research is needed before spending hard earned cash. Once again many thanks.

 

[HappyDay]

Record for this domain is not available right now. Please try again in 24 hours.

It was a 4 LLLL.in
However, I find it very cool that Im able to change the captcha font and to see not only the value in USD but in Euro too.I had a difference from 5 Euros betwen Google and your site but I can live with this. Good work !

 

[HappyDay]

Record for this domain is not available right now. Please try again in 24 hours.

It was a 4 LLLL.in
However, I find it very cool that Im able to change the captcha font and to see not only the value in USD but in Euro too.I had a difference from 5 Euros between Google and your site but I can life with this. Really good work !

 

[viman]

It was a 4 LLLL.in
However, I find it very cool that Im able to change the captcha font and to see not only the value in USD but in Euro too.I had a difference from 5 Euros between Google and your site but I can life with this. Really good work !

Thanks for your comments.

I just implemented a basic currency conversion to give some estimate in $, GBP and Euro.
Also working on integrating realtime appraisal so that I can finally remove the 24h message. Hopefully I can get that in place before Friday.

Cheers,

 

[viman]

* What is the reason that you can't pull up the domain information? This is not user friendly. Have you considered temporarily pulling from another source to fill the gap? Or at least ask the user to provide an email address so the site can notify them when a domain valuation does become available?

* The logo could use a little work.




A+ for honesty.

Hi,

Just a quick update that I have tried to improve on realtime appraisal so that it now has the ability to grab data in realtime and provide appraisal. It works well along with option to appraise 5 domains at a time for registered users. Thanks for your comments.