Wealth.com To Be Auctioned, Starting Bid $2.9 Million
By Anna Johnson on June 15th, 2009TheInternetCompany, Inc. is selling the domain name ‘wealth.com’ at a private auction to be conducted by secondary domain marketplace, Sedo.
Sedo will conduct the auction on June 25, 2009, with bidders to be pre-qualified by June 15. The starting bid is $2.9 million.
TheInternetCompany, a creator and developer of ‘distinctive’ domain names, has developed and sold hundreds of domain names including Finance.com, Messenger.com, Magazine.com and Sweepstakes.com. The company has owned wealth.com since 1996.
Don Cook, vice president of TheInternetCompany said that despite receiving “several attractive offers for the name over the years, we believe that now is the right time to monetize this asset and that an auction, rather than a traditional sale, is the best strategy.”
From our perspective as domain name investors, now is NOT the ideal time to be selling domain names. We are seeing many quality domain names go for significantly less than their monetizable value right now. In many cases, sellers are offloading domain names because they need the cash, not necessarily because the domain names don’t have value.
Then again, premium domains have commanded some pretty impressive prices during the current economic downturn. Prices paid for generic domain names in 2009 include $5.1 million for Toys.com, $1.7 million each for Fly.com and $1.7 million for Auction.com.
Needless to say, the outcome of this auction will be very interesting…
