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Domain Auction Activity

I understand that the estimates of domain value from Go Daddy are just that....estimates BUT I just put up a domain for auction 6 days ago and started it at 1/3 of the estimated value and have NO bids to this point.  Any ideas?  Any experiences out there with the "estimated value" being right on or very far off?

Super User III Super User III
Super User III

Re: Domain Auction Activity

Simply put a domain is worth exactly what another person would be willing to pay for it.  Then it is also a matter of when someone may be looking for such a domain.  The estimate is a good starting off point, but it is an automated algorithm which can not take all factors into account.  So it could be way high, way low, or spot on.  These do not replace market research and an understanding of demand trends.  All methods are just guesstimates of if you'd be able to find a buyer for that amount, some more reliable than others.  Though you can run the domain by several estimators and compare the results.  There are many available if you want to refer to your favorite search, here is another for example.