Who calculates the cost of a domain name and how?

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Just a random character set hijo.com costs 24,250+ dalars on a site that positions itself as namechip and dale. But in fact, this is some kind of scrooge. And so in all domains of 3-4 random letters.
And now let's take a slightly more consonant domain from the same random, meaningless letters.

joli.com is
worth the show-off, now every Russian student receives more for shawarma to school from their parents, nothing at all, 255,000+ oblique dalars.

But seriously, such prices = absurdity. To whom and why did such a domain surrender? Elon Musk? What kind of person with brains will pay such pocket money for a domain, which then needs to be promoted, well, why?
I understand if there was a name, a brand, and the domain had already been bought, then the uncle could charge his price, but here the domain is free, only a quarter of a lyama and it is yours. I understand if it was a domain like sex com with its history as a domain and stories in general, meaning, a brand, so to speak, but here the character set is the same.

In general, how and why is such a price formed? Who appoints?

How is the price justified?
Some people will tell you that all highly priced domain names are premium – I disagree. For me, a high price is not an indication of good quality.

But good quality can justify a high price. In my opinion, this is what makes a domain name a premium domain name, quality!

Premium domain names are more expensive than other domain names because of what they bring to a website. Quality baggage…

A strong domain history, ie, a good reputation, valuable link juice, and healthy traffic stats. This positive history means a premium domain name has a higher page ranking in search engines and brings more organic traffic to your website.
Exact match words that name a product, service, industry, or geographic location. A premium domain name is an instant online brand. This means money and time saved on marketing.
Word/phrase/keyword that have a high search volume, ie, users type in when doing a search.
Short names or acronyms that are easy to remember.
A domain name that contains a word/phrase that PPC advertisers are competing for. This will bring more traffic.
Words that work as brand names.
Demand – trending words or phrases can sell for huge prices, but they may have a short life.

Pay attention! joli.com is an ordinary domain of random letters, no premium and the above described from the quote, so the question arises

Answer 1

Hello.

In general, how and why is such a price formed? Who appoints?

In 9 cases out of 10, this is cybersquatting in conjunction with the so-called premium domains. In simple terms, cybersquatting is an automated "seizure" of domain names in which there is little interest ("seizure" because domain names are inherently rented and do not actually become property). First of all, it is premium domains (short beautiful names, brand names that simply consist of a few letters, etc.) and those that were not renewed by the previous owner in time. Further, the price tag is inflated for such domains and that's it .. most often such domains are simply inaccessible to anyone for decades, and there is no activity on them (just because of the inadequate price tag). Maximum - go to the domain name auction page,
Sometimes the registrar companies themselves do such nonsense, when a client’s domain goes bad and it is not renewed on time, first, before being removed from the database, an “emergency” renewal is offered for ~ $ 1000, if there is no payment, then the domain is not deleted from the registry, but passes into the possession of the registrar, in essence, without being released and without interrupting the date from the moment of the first registration. Disgraceful, but they do it. The calculation is that the domain is needed for work, it can have corporate mail and a whole lot more. Legal blackmail, if you put aside the romance.

joli.com is a regular domain with random letters, no premium

This is not entirely true. Short domain names, consisting of several letters, also belong to the premium category, corny because there are fewer and fewer of them left for free registration.
A few years ago, CDPR bought the cyberpunk.net domain from cybersquatters, which was selling for, like, $20k. It would seem, right? It was easier to add 4 digits and register a domain for $20, but something like this :)