Sedo, an online domain name marketplace, has launched a new account management tool called Price Suggestion Tool. This service is available for all Sedo members to help them evaluate and price their domain names. Users can simply enter their account's domain management zone, select a domain name that they own and click the price suggestion link. Immediately, a price suggestion is made for that domain at the current market state and average price.

Someone in the creative department at Sedo had a light bulb shine over their head when this idea came to them because it was embraced immediately by the Sedo community and domain experts alike. “[The] Price Suggestion Tool is one of the most accurate automated domain valuation tools I have used,” said Andrew Allemann, editor for Domain Name Wire, a news website dedicated to the domain name market.

Besides the pretty accurate and decent suggested prices, the Price Suggestion Tool's best asset still remains its price: it’s free. Every user can evaluate their domain and see whether they are under-pricing or over-charging for their products. This service comes to append Sedo's Domain Appraisal service, that had domain name experts manually evaluate and price domain names and domain portfolios at a small fee.

Sedo comes to recommend users to set fix domain name prices in an attempt to boost domain name sales. In an internal study carried out at Sedo, results concluded that domain names with fixed prices sold three times more faster than domain names without a set price. This could be the latest marketing gimmick that Sedo is engaging in, maybe inspired by eBay's “Buy it now” campaign that managed to increase the amount of sales on the website after its launch.

“Our new Price Suggestion Tool helps sellers to recognize fixed price opportunities by offering an accurate price from which they will be more likely to sell domains faster and receive a higher return on their investment,” said Ulrich Essmann, president of Sedo. He added that “This tool leverages our advanced technology to not only bring success to the buyers and sellers in our expanded marketplace, but also to directly address our strategic goal to improve liquidity and market efficiency in the secondary market.”