I have a domain name currently that is similar to flickr.com, scribd.com, etc. in that with one letter excluded, it still sounds like the word.<p>After customer and market validation and with my co-founder and I coding, I realized it'd be important to trademark the name. That has gone through. Which is great since the name is a great fit, is a real word (less the letter), easy to say, and easy to remember.<p>The domain name with the correct spelling is available for purchase for $1.5k ("buy it now" so no negotiation). Honestly, similar or worse domain names are trying to be sold for more money and I would happily pay $500 - $1,000 without issue.<p>Should I just purchase it at this price? I doubt it goes lower and there isn't an option to negotiate. I guess the only thing holding me back is that it's a big sum (I have the money - since still working day job). I wonder if my incorrectly spelled domain is good enough?<p>But then I see that flickr has flicker.com. In terms of word of mouth, I'm sure there will be people who try spelling it correctly, in which case I would have potential to redirect them. It could help with SEO as well.<p>Any and all advice appreciated. Thanks!
Without knowing what the domain is, I can't comment on its actual worth but considering everything that you have said you should buy it.<p>The reasons are because:<p>- You're already committed to the name - you have a trademark and you say the name is a great fit for your startup<p>- You are already willing to pay $1000 for it ($500 more isn't that much in real terms especially, if you think you can at least recover $1500 for the domain if the startup fails)<p>- If your startup becomes successful, you are going to want to acquire that domain name (and once you're successful the owner will want a more substantial price)
My guess is that the discrepancy between the general $10/yr from godaddy and the current $1500 is what's getting to you... My advice would be to try to disregard the "standard" price for a domain and just ask if it's worth it on its own.<p>One way to look at it: you could say that the "standard" price for a domain name is no longer standard at all--that most (not all, but most) good domain names are already taken, and that "$10/yr" was a historical moment that already passed. However you create the story, it should lead you to ignoring what you think "should" be the case, and help you take full consideration what IS the case.
If you're not building a physical product, I don't think it's necessary to invest in a domain. Early on you should just be focusing on the product. The name may change as the product evolves. If your product reaches any level of success, you can then decide to purchase a better domain. At the point of success, you'll have the resources to purchase a better domain.<p>Keep in mind...<p>* dropbox.com was getdropbox.com<p>* basecamp.com was basecamphq.com<p>* foursquare.com was playfoursquare.com<p>* facebook.com was thefacebook.com<p>There are a lot of creative ways to fake it until you make it. Don't choose a terrible name that nobody can pronounce, but there are other alternatives for a lot less money. In the last year, I've purchased a half dozen domains that are simple to pronounce and didn't cost more than $9.
If this will be a real legit business making money, 1500 isn't worth the risk of having to potentially pay 100x more when your business URL is known and thus may increase the value of the domain you are looking to buy.
Flickr didn't have flicker.com until recently and I think it cost them over $800,000 if I remember the bidding for it correctly. Probably worth just buying it now and not worrying about it.
Like others have said, ignore the typical cost of a domain and consider how many 'conversions' it will take to cover the cost of a decent domain. If you're intending on making money, it won't take long to have that domain name pay for itself.<p>All this said, ensure you can get the other appropriate usernames for twitter and any other social avenues you'll promote through.<p>Best of luck!
Thanks for all the advice guys! I'd edit original post but I suppose it gets locked. Anyway, I went through with the purchase. I think it was worth it.<p>Does anyone happen to have advice on domain transfer? I have a feeling it gets done through the same I bought it through but not quite sure yet. Hopefully transaction goes through soon / shortly.<p>Thanks again everyone!
I once got $500 through network solutions for a domain I didn't even want. A year later the buyer let it expire.<p>The way network solutions even found me? WHOIS.. Did you try whois yet? Their contact might be right there.. they might go lower.
A single dictionary word .com is almost always worth $1500. Buy it now before the price goes up and you have to fight for it later. Better than spending it on beer and other stuff that makes you fat.