I just saw a tweet from the GoDaddy Auctions account promoting the upcoming auction for the three letter WOA.com domain name:
Whoa, another 3 Letter .COM just hit the Expired Domain Auction today. Check out WOAâ€¤com. https://t.co/ooKQzg4Mmv
— GoDaddy Auctions (@godaddyauctions) February 29, 2016
I retweeted the link and visited the auction page to get some more details. The thing that stands out to me the most is the “valuation” field. Three letter .com domain names have been selling for thousands of dollars for many years. I highly doubt you could buy any LLL.com domain name for less than 5 figures today, and if you can, there are probably issues with it. In fact, back in November, Mike Berkens wrote “I’m calling the wholesale value of Chinese LLL.com to be around $50K.” WOA.com is not a “Chinese LLL.com” but it is worth 5 figures in today’s market.
So what is so jarring about GoDaddy’s valuation? According to the auction page, the valuation of WOA.com is $12.00. Yes, $12. Not $12k or even $1,200. That would be two figures rather than 5 figures. Don’t believe me? Here’s a screenshot:
I checked out some other auctions to see if this $12 valuation is just an error. To do so, I sorted the current auction results page descending by highest valuation. It seems that nearly all of the highest valued domain names (according to the valuation field) all have traffic reported. RecipeTipster.com was the one exception to this as it did not show any traffic but had a valuation of $309. The other domain names that didn’t have any reported traffic on the list I saw, even those with 4 figure bids, show a “-” for valuation.
Since the WOA.com auction appears to be an expired domain auction, the only harm the company is doing is to itself. If anyone would use the valuation field as a tool in determining how much to bid on the domain name, they might be reluctant to participate.
If there is an issue with the valuation tool, that field should probably be removed from auctions since it’s unhelpful and likely detrimental. In my opinion, if GoDaddy feels that the valuation field is important enough to include on the auction pages, they likely assume that their bidders would find it helpful. That is a bit scary. I love GoDaddy auctions, but the valuations seem to be laughable.
At the time of publication, the high bid for WOA.com is $19,250, and there are about 10 days remaining.