I recently wrote about the GoDaddy valuation tool that was updated a month ago. The algorithm that powers the tool uses the growing database of Afternic sales to give a valuation of what the algorithm think the domain name is worth. I thought the prior iteration of the tool was pretty worthless because it was only based on traffic and PPC earnings.
Now that the revamped valuation tool has been showing for a month, I am curious about whether others are using it.
When I have the time, I use the valuation tool as a way of sorting auctions. I don’t think I have placed more bids as a result of the tool though. Sometimes it helps me find names I may have missed. One thing the tool has done is made me second guess some names. There have been times I have been thinking about bidding on a name, and I wonder why GoDaddy thinks it has no value. There are other times that I see names with bids and high valuations, and I do a Google search to try and understand why the domain name may have value to bidders.
Do you use GoDaddy’s valuation tool to help you place bids at GoDaddy Auctions? You are welcome to share your feedback if you would like.