Is my Domain worth selling and how?

Majic

Last year I purchased a domain (didn't cost me anything) I was not going to renew it next month as I no longer need it. When I tried to cancel I was offered a value and advice to sell it. The value was £900 which I think is ridiculous. I went on 'Go Daddy'  and they valued it at $200, which again seems very generous. 
I can renew it for £10 but what is the best way to sell it and is it really likely to be worth something. Thanks

Grumpy_chap

Did the people giving the valuations of £900 or $200 offer to buy to resell?

Is the domain one that is likely to be sellable?
"Magic.com" would be worth more than "Majic.com" etc.

Majic

Grumpy_chap said:

Did the people giving the valuations of £900 or $200 offer to buy to resell?

Is the domain one that is likely to be sellable?
"Magic.com" would be worth more than "Majic.com" etc.

No, they didn't offer that is why I am dubious, I would say the domain does have a value but If I didn't pay anything for it why would anyone else?

DullGreyGuy

Majic said:

Grumpy_chap said:

Did the people giving the valuations of £900 or $200 offer to buy to resell?

Is the domain one that is likely to be sellable?
"Magic.com" would be worth more than "Majic.com" etc.

No, they didn't offer that is why I am dubious, I would say the domain does have a value but If I didn't pay anything for it why would anyone else?

Because whilst you have registered it no one else can. A former client wanted to change its name but the .com domain for their new name was owned by a small Canadian clothing company (client is a fairly large niche insurer). So they can buy other extensions like .co.uk but as a global insurer they wanted a .com, they could go with a different name or insert hyphens or they can try and buy the domain off the company.

It really depends what it is, there have been one word domain names that have sold for millions but most domains that are up for sale never sell and you just pay fees year on year. All domain brokers massively over value the domain if you ask them as nothing is ever valued much under $100 and it's not hard to get $1,000+ valuations. There is no commitment from them of achieving that fee and most domains just languish on a list. 

Really comes down to someone wanting whatever your domain name is for their business and so either its going to be their new brandname (if its their current name they could potentially seize the domain) or it perfectly describes their business (eg diy.com being B&Q). How many years are you willing to wait for that person to come along?

Grumpy_chap

DullGreyGuy said:

Really comes down to someone wanting whatever your domain name is for their business and so either its going to be their new brandname (if its their current name they could potentially seize the domain) or it perfectly describes their business (eg diy.com being B&Q). How many years are you willing to wait for that person to come along?

The astute business after such a thing would simply buy the "business" and keep close council on wanting the name.

Happened to a chap near us who ran a small hot dog / burger van and attended events - he called the van "Just Eat".  The people that wanted the name, didn't buy the name, they bought the "business" for not very much at all.  The chap was delighted as they gave him some money and he got to keep his van and registration plate "JU57EAT" but had to change the logo on the van.

I suspect, had he known how the company name would be entirely re-purposed and grow as it has, he would have wanted rather more...

Majic

DullGreyGuy said:

Majic said:

Grumpy_chap said:

Did the people giving the valuations of £900 or $200 offer to buy to resell?

Is the domain one that is likely to be sellable?
"Magic.com" would be worth more than "Majic.com" etc.

No, they didn't offer that is why I am dubious, I would say the domain does have a value but If I didn't pay anything for it why would anyone else?

Because whilst you have registered it no one else can. A former client wanted to change its name but the .com domain for their new name was owned by a small Canadian clothing company (client is a fairly large niche insurer). So they can buy other extensions like .co.uk but as a global insurer they wanted a .com, they could go with a different name or insert hyphens or they can try and buy the domain off the company.

It really depends what it is, there have been one word domain names that have sold for millions but most domains that are up for sale never sell and you just pay fees year on year. All domain brokers massively over value the domain if you ask them as nothing is ever valued much under $100 and it's not hard to get $1,000+ valuations. There is no commitment from them of achieving that fee and most domains just languish on a list. 

Really comes down to someone wanting whatever your domain name is for their business and so either its going to be their new brandname (if its their current name they could potentially seize the domain) or it perfectly describes their business (eg diy.com being B&Q). How many years are you willing to wait for that person to come along?

Well I have listed it for sale now on Sedo for free to see if there is any interest. Will give it a month

DullGreyGuy

Grumpy_chap said:

DullGreyGuy said:

Really comes down to someone wanting whatever your domain name is for their business and so either its going to be their new brandname (if its their current name they could potentially seize the domain) or it perfectly describes their business (eg diy.com being B&Q). How many years are you willing to wait for that person to come along?

The astute business after such a thing would simply buy the "business" and keep close council on wanting the name.

Happened to a chap near us who ran a small hot dog / burger van and attended events - he called the van "Just Eat".  The people that wanted the name, didn't buy the name, they bought the "business" for not very much at all.  The chap was delighted as they gave him some money and he got to keep his van and registration plate "JU57EAT" but had to change the logo on the van.

I suspect, had he known how the company name would be entirely re-purposed and grow as it has, he would have wanted rather more...

They hired a domain broker to approach the entity to hopefully broker a deal which would include the pick of a range of other similar domains we'd registered, a redirection of all their webpages to the new site and a not small chunk of money. The broker said they never got a reply to any of their approaches so they now use a hyphenated domain. 

Dont think company records for the Canadian equivalent of a LTD are public record, as such hard to judge what the balance sheet may have looked like but we wouldn't have wanted to buy £500,000 of stock etc if thats what they were holding. 

coffeehound

You can view live auctions on GD which is quite interesting

https://auctions.godaddy.com/beta

forgotmyname

Simply stick a page up domain for sale...  £10 gamble that it maybe worth something.  If it doesn't sell then ditch it.

deskhelp

You can try selling on Flippa , sedo or Dan ( afternic) all are good options to sell domain.