Last week, I was bidding on an auction at Godaddy and ended up losing. The name could be worth more than the winning bid, and I want to share why I stopped bidding without revealing the name, since that might not be nice for the winning bidder.
The reason I stopped bidding was there is an alternative way to spell the domain name. It may have been good for branding, but it would have failed the radio test and would have likely lost half its traffic to the alternative. This domain name had a number and a word in it, but there are alternative spellings. For instance, if you heard the word “first” in a domain name, some people might spell it first and others might spell it 1st.
For this particular domain name, I think both spellings would have value. The term is fairly well known, and there are many websites that use both spellings effectively. Furthering my thoughts that both spellings have value is the fact that all of the major extensions have been registered in both spellings by different entities.
For me, though, it simply didn’t pass the radio test. If someone were considering building a brand on the domain name, they would have needed to discount the value of the domain name that was at auction because half or (likely) more than half of the people would assume it was the alternate spelling if they heard about the website on a radio or even via word of mouth.
At the end of the day, I was ready to pay low 4 figures for the domain name but opted against raising my bid once it passed my comfort level. I want to share this with you because I think the number of spellings is an important consideration to make when buying a domain name.