Would you pay an inflated price to buy a domain?

Jon

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I'm looking into starting a new project at the moment and wanted to buy createyourblog.com

It's currently with a reseller so I contacted them and they've emailed

Hi Jonathan,

Thank you for your interest in the domain name, createyourblog.com.

As you are probably aware, domains are valued based on many factors such as marketability and brand-ability, the industry it is related to, similar domain sales, and if applicable traffic and associated revenue.

createyourblog.com is currently valued: $4,888

We only guarantee your quoted price for 7 days. All sales are on a first come, first serve basis. If you are serious about purchasing this domain, I encourage you to do so today!

Who the hell would pay that?

I would pay if it was $48 but not $4888

However what takes the biscuit is the tagline at the end of the email
"The right domain name is the difference between success and failure. On the Internet your domain name is your 'real estate'. Get it right the first time..."

Is it heck!!

If you buy a domain and you promote it enough and build a brand around it anything can be successful.
Oddsmonkey - the hell does that mean?
The Money Shed - total nonsense!
Google - Eh!
 
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homie

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How do domain names work? I mean, if I wanted a domain name that doesn't already exist how does one create it?
 

Jon

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How do domain names work? I mean, if I wanted a domain name that doesn't already exist how does one create it?
You just go and buy one

So you would go here to say Kloudhost and click on Domains and then use the search to find the one you want and buy it ;)
 

homie

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Thanks @Jon. Looks straightforward.. Lots of different endings you can have now: .shop, .london, .rent, .academy and more. Surprisingly, one of the cheapest seems to be .co.uk which I would have thought would be quite desirable for us in the UK.
 

Jon

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Thanks @Jon. Looks straightforward.. Lots of different endings you can have now: .shop, .london, .rent, .academy and more. Surprisingly, one of the cheapest seems to be .co.uk which I would have thought would be quite desirable for us in the UK.
aye loads availabe

There is even (or was) cheesy.pizza which myself and @Moneyless Man keep saying i should get if only to create jon@cheesy.pizza
 
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Jon

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Shocker!! The same name but .co.uk is 1p a year on Godaddy? Or createyoublog.com (you not your) also 1p
GoDaddy are known for hiking the prices up on your after the first year 'amazing deal'
 

tinker0159

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I'm looking into starting a new project at the moment and wanted to buy createyourblog.com

It's currently with a reseller so I contacted them and they've emailed



Who the hell would pay that?

I would pay if it was $48 but not $4888

However what takes the biscuit is the tagline at the end of the email


Is it heck!!

If you buy a domain and you promote it enough and build a brand around it anything can be successful.
Oddsmonkey - the hell does that mean?
The Money Shed - total nonsense!
Google - Eh!
I think its so important to make posts like this because its so easy to fall for these sorts of things especially when you are 'desperate' to make some extra £'s so thanks for sharing :)
 

Jon

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I don't tend to recommend godaddy as a new supplier for exactly that reason. Also, someone has to pay for that TVadvertising...
100% agree

Look at their pricing for basic web hosting
6yxU6XF.png


Economy only lets you run 1 website so allows no room for growth and is actually £5.99 a month in the 2nd year

So then you are sort of forced onto the Deluxe package which is a massive £4.49 a month (more than less than £2.99 a month with Kloudhost!) and £7.99 a month just to run a sensible website!

Oh and none of those prices include TAX!!!
 

The Reverend

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100% agree

Look at their pricing for basic web hosting
6yxU6XF.png


Economy only lets you run 1 website so allows no room for growth and is actually £5.99 a month in the 2nd year

So then you are sort of forced onto the Deluxe package which is a massive £4.49 a month (more than less than £2.99 a month with Kloudhost!) and £7.99 a month just to run a sensible website!

Oh and none of those prices include TAX!!!

I look at them the same way wordpress.com works, plus a million other companies that offer 'we do it so easy anyone can do it' websites - and for £5 a month you think 'thats not bad'.
 

mabozza

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GoDaddy are known for hiking the prices up on your after the first year 'amazing deal'
Aye true, but, its still dirt cheap... had a domain for one of my bands with them for 5 years... £1 first year then a tenner for rest of the time... not terrible
 

Jon

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I look at them the same way wordpress.com works, plus a million other companies that offer 'we do it so easy anyone can do it' websites - and for £5 a month you think 'thats not bad'.

Yeah I would say that used to be my view and then when you have your website and stuff starts going wrong like it gets infected with malware or something and your hosting company are next to useless then you sort of get what you pay for lol
 

Jon

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Plot gets deeper

Hi Jonathan,

I understand that you are interested in the domain name createyourblog.com.

As you may be aware, we have createyourblog.com currently priced at: $4,888.

We are offering a 25% discount which makes the price $3,666.
(This price is valid through the end of the month).

Please let me know if you would like to take advantage of this discount promotion and I would be happy to send over the purchase link with the discounted price.

!!!!!!
giphy.gif
 
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Andrew

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Plot gets deeper

Hi Jonathan,

I understand that you are interested in the domain name createyourblog.com.

As you may be aware, we have createyourblog.com currently priced at: $4,888.

We are offering a 25% discount which makes the price $3,666.
(This price is valid through the end of the month).

Please let me know if you would like to take advantage of this discount promotion and I would be happy to send over the purchase link with the discounted price.

!!!!!!
giphy.gif

I was qouted the same for moneymental.com but yet for the co.uk version it cost me peanuts. Guess which I opted for in the end...
 

The Reverend

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In defence of the scalpers....

If you were a 'big' (choose how big yourself) company and wanted, I mean REALLY wanted, then $5k is nothing of the marketing budget.

Heck, if someone offered me $5k for thereverend.co.uk I'd probably take it.
 

MintySky

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Plot gets deeper

Hi Jonathan,

I understand that you are interested in the domain name createyourblog.com.

As you may be aware, we have createyourblog.com currently priced at: $4,888.

We are offering a 25% discount which makes the price $3,666.
(This price is valid through the end of the month).

Please let me know if you would like to take advantage of this discount promotion and I would be happy to send over the purchase link with the discounted price.

!!!!!!
giphy.gif

I would be happy to pay that very reasonable price! Unfortunately, the money is currently stuck in an overseas bank account. :eek: Perhaps if the reseller could send...say, £500 to cover the legal fees to release my money, I can buy it very, very soon!

I think this probably gives you an idea of what I think of 'resellers' such as these. ;)
 
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Scott@KarmaContent

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I'm a dropcatcher and one of my main forms of income is selling domains, so I thought I would pitch in. :p

Is the right domain the difference between success and failure? No, of course not, but it can make things a lot easier in terms of branding, marketing and perception for a business.

Personally, I'd avoid most of the new extensions, the majority of the public don't seem to know what they are, and they've been disappearing left, right and centre. I'd stick with .co.uk and .com.

Domains are just a form of property, it's only the same as owning a commercial property, you have the right to charge what you want for it. If people will pay for it, that's another matter.
 

Jon

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Well they continue to email me offering me an amazing 40% off the domain price TODAY ONLY!

but TODAY ONLY seems to keep happening once a week at the moment lol

I suppose the problem with domain squatting is that the value of that domain is only ever going to be what people are willing to pay for it.

If I go to a car dealer and a buy a brand new VW Polo and then put it on Autotrader I would KNOW I can get a few grand for it at least.

If I go and buy a new domain name and try to sell it with zero traffic going to it so I can't see why potential buyers are going to look at that domain and go OH YEAH , ITS DEFINITELY WORTH £8000 THAT IS!!
 

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