“Million Dollar” Auction Doesn’t Happen
The auction of 2,600 real estate domain names that was suppose to take place on Thursday didn’t happen, and as you can imagine, I am not surprised. According to an article in the San Francisco Chronicle,
“Interest in Thursday’s auction was high, according to both Harrison and King. In the days leading up to the auction, the Web site got 5,000 hits, and J.P. King had e-mails and calls from interested buyers. But the event fizzled.
Perhaps the names weren’t as valuable as they seemed. “Had we had premium names, like toys.com, there would have been an auction,” King said as waiters in the Fairmont cleared trays piled with sandwiches from the empty room.”
I do find it interesting that they quoted the Toys.com auction, as I mentioned in the comment section here a couple of days ago. It’s just too bad the parties didn’t realize this before thousands of dollars were spent on publicity and other expenses related to the auction. They could have asked a professional domain investor who could have told them this straight up.
I am still interested in the traffic and revenue numbers that Victor Lund, partner at WAV Group mentioned in the comment section of my blog. “As simple link sites they provide an abundance of income that far exceeds the cost. Harrison can sit on them as a cash cow for as long as he likes.” I followed up asking for revenue and traffic numbers, but there was no reply.
I would have liked to see a portfolio of domain names sell for millions of dollars, but clearly these aren’t as valuable as a few people might have wished.
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