Do Domain Appraisals mean anything?

I feel like I'm hearing more and more that domain appraisals are not a good indicator of a domain's true value. A Senior Member on Domain State recently said,

"Unfortunately, those certified appraisals (from godaddy and all other companies) aren't worth much. Most of the time, they are quite inaccurate." [See Link]

Certainly not the first time I've heard a comment like this. I've always been a bit hesitant to put much of my budget towards appraisals. I think that domains have a different value based on who's looking at them. If it was my life dream to open a Canary Zoo, then CanaryZoo.com has more meaning to me than most people. If, on the other hand, I'm a domainer trying to make a quick buck I might shell out $20-$30 for this name as the name itself has little meaning to me.





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