Why do premium domains cost more than normal domains?
In short, because they’re more effective. A good quality premium domain is memorable, easy to say, spell and remember and, most importantly, has the potential to become a valuable brand name.
All of this means that premium domains have more commercial value than normal domains.
Just like physical real estate, some property is simply more desirable. And more desirable property has greater value.
At Novanym we draw on years of experience of selling hundreds of premium domain names to take a straightforward commercial judgment on the desirability of a domain.
What are the different types of premium domain?
Any domain that is priced above the $10 or so that a standard registration costs is a ‘premium domain’. But this encompasses many types of domain name. Some combine generic ‘keywords’ (like Quality Plumbing); some are geography specific (Dallas Plumbing) and some are more exotic and frankly unpronounceable (like Zygwocx).
The best are distinctive but easy to say and spell and have character that conveys a message or a style - they’re like most of the brand names we are all familiar with (like Google, Kodak, Rolex, or Verizon.)
How do you buy a premium domain?
All domains names are registered and managed by an organisation called a Domain Name Registrar (or simply a ‘Registrar’) like GoDaddy, Namecheap, or Uniregistry. When you agree to purchase a premium domain, you are paying for this registration.
So the person or business selling the premium domain will arrange to transfer their registration with their Registrar, to your own Registrar.
You will then be able to link your domain to your website and create email addresses that use the domain name.
Is it worth investing in a domain name?
A good domain name adds credibility and authority to a business. It reassures investors as well as customers. A good domain tells the world that you mean business.
Some of the world’s most successful businesses invest millions of dollars in finding and securing the right domin name - would they do this if it wasn’t a sound investment?
Luckily, most businesses don’t have to invest millions to secure a great domain - but an investment of a few thousand dollars could be the smartest investment they ever make. When the cost is spread over a few years, it could add up to the cost of a cup of coffee a day.
How much should I pay for a premium domain?
There is no standard price for a premium domain. Costs can vary from $50 to $5 million, with everything in between.
However, most brandable premium domains are bought for between $1,000 and $10,000.
Is a premium domains always a ‘dot com’ domain?
No - but most are. There are more than 250 different ‘top level domains’.
They range from generic domain endings like .net and .info to geographic domains like .us and .co.uk, to more ‘fashionable’ endings like .io and .co and the more exotic, like .ninja or .guru. The variety is endless …and very confusing. These domains are not as desirable, so are not generally seen as being of a premium quality.
This is why most businesses choose the world’s default domain - the .com.