Interesting results using AI (ChatGPT) to estimate domain value

[seemly]

As the title suggests, I thought I'd try a small sample of UK domains and see what ChatGPT thought of their value.

Based on the latest domain sales (at the time of writing), the results were interesting and the estimates weren't terrible.

Please note: This was just out of general interest and is obviously not intended to be used as a definitive tool to accurately determine the value of a domain name.

The actual sales values:

Now, sales prices are very subjective anyway. NOBODY can accurately and definitively estimate the value of a domain. You can certainly see there is logic at play with this tiny example.

I then asked ChatGPT a question.

Me:
Would you consider that .uk domains have a lower value than .co.uk? Explain your reasoning.

ChatGPT:
Generally speaking, .uk domains may have a lower value than .co.uk domains, although this can vary depending on a number of factors.

One reason for this is that .co.uk domains have been in use for a longer period of time and are therefore more established and recognizable among UK-based businesses and consumers. Additionally, many UK-based companies have already registered their preferred .co.uk domain, making it more difficult to acquire a desirable domain name within the .co.uk extension.

On the other hand, the .uk extension was introduced in 2014 as a more concise alternative to .co.uk, and has not been in use for as long as .co.uk domains. This could result in lower demand and perceived value for .uk domains.

However, there are exceptions to this, as some businesses and individuals may prefer the shorter and more memorable .uk extension over .co.uk, or may find that their desired .co.uk domain is already taken and opt for the .uk version instead.

Ultimately, the value of a domain name will depend on a variety of factors, such as the presence of valuable keywords, the level of demand from potential buyers, and the perceived value by domain name experts or appraisers.

Text list of the domain names:

justminiatures.co.uk
voluntaryarrangement.co.uk
chart-track.co.uk
histamine.co.uk
uxs.uk
classicmotorshows.co.uk
sunny.co.uk
Slogans.co.uk
Nicki.co.uk
Emmersons.co.uk

 

[armistice]

How did you phrase the question?
I asked "Could you give an estimate of the value of the domain name *******.uk"

The answer was:
As an AI language model, I don't have access to current market data, and the value of a domain name can vary greatly depending on various factors such as its length, popularity, and the demand for it. However, in general, a domain name like *******.uk, which is short and memorable, could potentially be valuable, especially if it has a strong commercial or brand appeal. Ultimately, the value of a domain name is determined by the willingness of a buyer to pay for it and the seller's willingness to sell it. It's best to consult with a professional domain broker or use a domain appraisal service to get a more accurate estimate of its value.

 

[seemly]

I'm not on my computer right now, but I ended up conversing a few times, asking it to provide a numeric price range that it felt a domain name might be worth.

I then specified to exclude any additional textual information, and that all future replies should include the estimated value only.

 

[lazarus]

Finally... Something that might be able to kill off Estibot

 

[Ben Thomas]

I'm almost certain you can't do this with ChatGPT without providing some figures prior for it to play with. It simply doesn't have access to data like that, and couldn't possibly understand the question. I'd be interested to know the exact steps you took? If you login, you can see previous conversations, maybe copy it and place it here, it would be certainly an interesting read.

 

[lazarus]

I'm almost certain you can't do this with ChatGPT without providing some figures prior for it to play with. It simply doesn't have access to data like that, and couldn't possibly understand the question. I'd be interested to know the exact steps you took? If you login, you can see previous conversations, maybe copy it and place it here, it would be certainly an interesting read.

But surely it does. As if it didn't have any data and understand the question then how does it produce those results?

When I have asked it to solve complex coding problems, it has been amazing. It has understood far beyond my expectations.

 

[seemly]

I'm almost certain you can't do this with ChatGPT without providing some figures prior for it to play with. It simply doesn't have access to data like that, and couldn't possibly understand the question. I'd be interested to know the exact steps you took? If you login, you can see previous conversations, maybe copy it and place it here, it would be certainly an interesting read.

I can categorically state that I didn't provide it with any sales data directly before it provided me with any value estimates.

I've been using ChatGPT quite extensively over the last few months, and you're right, I should be able to see my chat history. But for the last few days, I have had this in my sidebar:

As soon as I can share the full transcript, I will be happy to.

Don't forget, ChatGPT has certain data prior to the year 2021. What that data is exactly, I don't know.

 

[ukbackorder]

It was hooked up to the internet to 'read' everything and train. It was then apparently disconnected except to respond to requests.
Supposedly it is going to be hooked up again for another training session and some people have said that it will be left with real time access. This will cause big problems though as people will horrendously game it and won't be long before it's telling people there was no holocaust, the earth is flat, and .mobi is worth investing in.
This lack of real time data is a bit of a hindrance though but I doubt it will be long before other AIs are released that won't have this self-imposed 'moral' boundary.
I asked it how I could make a fake skull for a prank - it told me I should never do that. I asked it who the biggest idiot in history was - it told me I should never consider people idiots. Wokeness will kill it but it is only one of the first in a long future. Having said that I use it all the time for quick technical - much better than ploughing through google results.
Some things though AI will never be able to do, such as predicting domain value. That is because there is no formula. People waste so much time and money missing that point. Each domain is individual and depends upon having motivated buyers and a seller whose price expectation crosses over. This cannot be predicted. If I flip a coin 100 times and it is heads one hundred times it is *still* only going to be 50/50 on the next flip. If a domain sells for a million pounds it doesn't mean you could sell the same domain to the same buyer for the same money if you had been the owner. It also doesn't mean that 'similar' domains are worth a million pounds to to same buyer or the same domain is worth a million pounds to other buyers.
And sadly it still never solved my n-queens problem which has been the bane of my life with hundreds of hours sunk into searching for a solution.
However it is great for writing poems about people in the style of shakespeare:

Oh, Seemly, the man of great might, Whose domain's worth was not quite right, He pondered day and night, To increase its value to a new height.

He researched and analyzed with care, And made his domain beyond compare, With content rich and rare, His site's worth he did repair.

Thus, Seemly's domain was elevated, And his efforts were appreciated, With praises from all who visited, His success, he rightly celebrated.

 

[seemly]

That's the most beautiful thing anything has ever said about me, @sigh! Thank you!

And you're right about any kind of domain value estimations. That's why I specifically stated in my OP:

Now, sales prices are very subjective anyway. NOBODY can accurately and definitively estimate the value of a domain.

I just thought it was interesting, as the estimates weren't a million miles away from what they sold for, and/or what you might have expected them to sell for.

 

[JMI]

Interesting, but you can tell the content has been pulled and spun (some from here!), I wouldn't even say this is AI.

 

[seemly]

Interesting, but you can tell the content has been pulled and spun (some from here!), I wouldn't even say this is AI.

I get what you're saying (I think), and I guess that depends on how you interpret the originality of anything we read, hear, and see.

When you think about it, everything that we as individuals know is based on what others taught us (reading, watching, listening), and what we learned ourselves through life experiences.

When we eventually regurgitate that information in any form, whether verbally, written, etc, it's still "spun".

True AI doesn't seem to be a thing
I think people get stuck on the Artificial Intelligence aspect.

OpenAI is just a huge library of (currently outdated) information that you can tap into and interrogate. Behind the scenes is just a bunch of "if/else" conditions.

Some humans have the capacity to problem solve. Using what you do know to work out what you don't know.
Sometimes ChatGPT just flat-out bullshits, just like humans.

Ultimately, ChatGPT is a tool.
I genuinely use ChatGPT as a conversational tool. I ask it questions about subjects, it gives me answers. I verify those answers. Either way, I learn.
Quite often it mentions things I may not have otherwise thought of, and I interrogate further.

 

[ukbackorder]

It can correct code. And not just syntax errors, it can point out fundamental logic flaws. This puts it further than any expert system or simple bot. It is capable of analysis.
It's clear to see that with exponential technological growth it's only going to be a few years before the world undergoes a change akin to the industrial revolution or birth of the internet.

 

[Ben Thomas]

It can correct code. And not just syntax errors, it can point out fundamental logic flaws. This puts it further than any expert system or simple bot. It is capable of analysis.
It's clear to see that with exponential technological growth it's only going to be a few years before the world undergoes a change akin to the industrial revolution or birth of the internet.

Yeah, I too have noticed it's proficient sometimes. Especially if you ask it to code bits and pieces.

Pretty cool, actually. Perhaps soon anybody will be able to knock up some code. Imagine the possibilities? There's oodles of people out there with great ideas, lacking the technical know-how or financial security to see it come to fruition.

 

[seemly]

It can correct code. And not just syntax errors, it can point out fundamental logic flaws. This puts it further than any expert system or simple bot. It is capable of analysis.

That's a good point actually. I've read about plenty of people that experienced the same.

I didn't use it as an example, because I am yet to use it in this way. I might give it a tinker tomorrow actually.

 

[seemly]

@Ben Thomas, I've finally been able to access the chat transcript.

It's attached as a txt file, but the content is markdown.

 

[JMI]

I think most of us here who work in software have got around 10 years left. So some will just make it until retirement, others will need to find something else for the next 30 years of work

 

[jasman]

Coming back to the domain values it provided, there is not a huge variance in the values. It would be interesting to see how it deals with a more mixed list with a few ultra high value domains (some .com, some .co.uk), some moderate ones as in the above list and some total bag-of-shite names not worth anything. Also whether it would give due value to 2-letters, geos etc.

 

[seemly]

Coming back to the domain values it provided, there is not a huge variance in the values. It would be interesting to see how it deals with a more mixed list with a few ultra high value domains (some .com, some .co.uk), some moderate ones as in the above list and some total bag-of-shite names not worth anything. Also whether it would give due value to 2-letters, geos etc.

If I have time, I'll give it a crack later!

 

[seemly]

• https://namebio.com/top-100-domain-name-sales-all-time
  
• https://domainsaleshistory.uk/sales?order_by=price&order=desc
  
• https://domainsaleshistory.uk/sales...ype=string&length=2&order_by=price&order=desc

Me:
Because the .uk domains are shorter, wouldn't they be deemed more desirable, and therefore more valuable?

ChatGPT:
Domain length is just one factor to consider when valuing a domain. While shorter domains can be more desirable, there are other factors that also play a role in determining a domain's value, such as the keywords in the domain, its age, its history, its relevance to a particular industry or niche, and the demand for that domain.

In the case of the domains you provided, while they are short, they are also less common and less recognizable than other top-level domains like .com or .co.uk. This can affect their value in the market. Additionally, the lack of usage and demand for these specific domains may also impact their value.

Me:
Explain your reasoning behind the domain value estimate it.co.uk

ChatGPT:
The domain it.co.uk is a two-letter, top-level domain (TLD) that can be interpreted as representing the field of information technology. The abbreviation "IT" is widely recognized and used in this context, which may make it appealing to companies operating in the IT industry or related fields. Additionally, as a short and memorable domain name, it.co.uk could potentially be used for a variety of purposes, including branding, marketing, and establishing an online presence. However, due to the broadness of the term "IT," the domain may not be as valuable as a more specific domain name targeting a narrower niche within the industry. Therefore, based on these factors, I estimate the value of it.co.uk to be in the range of £10,000 - £30,000.

Please Note:
I'm jumping in quickly to highlight that this value differs from the value provided in the table (£100 - £500). I didn't notice the discrepancy at the time.

I estimate the value of it.co.uk to be in the range of £10,000 - £30,000.

Me:
Based on that logic, why do you value fb.com so high?

ChatGPT:
The domain fb.com is a two-letter, top-level domain (TLD) that is widely recognized as representing the brand Facebook. Facebook is one of the largest and most valuable social media companies in the world, with a massive user base and a highly recognizable brand. As such, the domain fb.com has significant branding and marketing potential, and could potentially be used to further establish and promote the Facebook brand. Additionally, the domain is very short and easy to remember, which makes it highly desirable. Finally, it is worth noting that fb.com was acquired by Facebook in 2010 for a reported $8.5 million, which suggests that the domain has significant value to the company. Based on these factors, I estimate the value of fb.com to be in the range of £100 million - £500 million.

 

[Ben Thomas]

@Ben Thomas, I've finally been able to access the chat transcript.

It's attached as a txt file, but the content is markdown.

Thanks Chris that's really useful and a very interesting read.