Scientific Domain Name Appraisal Methodology
ByBerkeley, CA, USA, March 120, 2006 — TheWisdomOfDomainers.com, a division of DomainMart, announced today the launch of a new domain name appraisal service based on combining experts’ opinions.
The market value of a domain name is appraised using a model that is based on a scientific methodology to aggregate valuation estimates from a group of independent professional domain name appraisers. The resulting estimate represents the “consensus market value” of the domain name at the time of appraisal.
The patent pending methodology was inspired by James Surowiecki’s bestseller The Wisdom of Crowds. “The book presents strong and well researched arguments for a deceptively simple idea that large groups of people are collectively better at solving problems, making wise decisions, and predicting the future,” says Alex Tajirian, President and CEO.
“Our domain name is a spin on the book’s title,” notes Tajirian. “We use the same powerful concept to appraise domain names,” adds Tajirian.
“The concept is no different than why you may want to get a second opinion (whether from doctors or friends). A doctor (or friend or broker) may be wrong or biased or just having a bad day. The more ideas or outcomes that you average together, the less randomness and the more certain you are about your conclusion,” notes Tajirian.
TheWisdomOfDomainers.com pre-qualifies its appraisers. Moreover, to give them incentives to provide their best and unbiased estimates, in addition to a monetary compensation, the “name” of the winning appraiser is publicized on the website. The winner is the appraiser whose estimated value is closest to the “consensus market value.”
The cost of an online appraisal is $50 per domain name with volume discounts available. The appraisal report, which is kept confidential, is emailed to the requester within 5 business days.
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