Not all domain names are created equal. Because most of the choice words in the English language have already been snapped up as domains, certain domain names may have a higher value to buyers than others. As a result, one business that has emerged out of the buying and selling of domain names is domain name appraising, which is the process of evaluating a domain name and determining its market value.

Unlike currencies, where a set value can be determined, there is no way to standardize the price or value of a domain name. Because of this, it is important to remember that domain appraisals are merely opinions; there is no way to conclusively prove what your domain is really worth.

That being said, domain names appraisals can still be very helpful. They not only provide you with an opinion, but can give you an indication of what you should charge when you decide to sell a domain name. Appraisals also add at least a little bit justification to your price.

Most appraisal services will consider a number of factors when appraising your domain, including its length, keyword recognition, clarity and range of potential uses. If you are serious about basing your price on the opinion of an appraisal, it is recommended you seek several opinions to try and ensure you charge a fair price. Most appraisal charge between 10 and 30 dollars, with special discounts for bulk appraisals – therefore, obtaining more than one opinion for a single domain name would still be relatively inexpensive. Certain companies also offer software that will appraise domain names for you, although when presenting your price to a seller, referencing a third party is generally more reputable than a software suite which resides on your computer.

Remember, appraisals are only one way to determine the value of a domain name. If your domain is appraised at a high price, it doesn’t mean it will necessarily sell quickly, or even at all; it just means you picked a good name.