Report: .Money Domain Name Sold for $90k
I received an email from Adam Freeman from Essex, UK who reported that he sold a .Money domain name for $90,000. Due to a confidentiality agreement, he could not reveal the domain name or the buyer. Adam sent me a screenshot of his Escrow.com closing statement, and Escrow.com’s Sandra Gordon confirmed the transaction to me.
Adam told me he bought the domain name at day 3 of EAP in March 2015, and he paid $3,000 for it. He set up a landing page similar to how he has Travel.money set up, and the buyer inquired about the domain name via email. It took three weeks for the buyer and seller to come to an agreement on the domain name, and the deal closed at Escrow.com today. I asked Adam to share some details about why he bought the domain name and how the negotiation went, and he was happy to share them with me:
“I bought the domain on EAP for $3k.
Having a finance background I knew they were good value as I could flip them or build out a white label service which was my preference – it would have been a great branded service.
I had an offer in April for $2,500 from a different buyer which eventually increased to $15,000 after a few emails back and forth – nothing actually got agreed it was too low. Then in May, the current buyer approached me with an offer of $10,000 and I said that I was not interested in selling and got an increased offer up to $40,000 (this buyer was aware of the previous interest). It was extremely tempting and said I would think about it – whether to sell the domain name or build out a related service later this year. After a couple of days I said that I could not sell for less than $125k (including me paying escrow fees of $1k) as I believed in its value and was going to build our a service related to its name later this year.
Eventually, the buyer had a final offer of $90k and as there was so much movement from him, I went back with a final offer of $105k. After about 7 days of radio silence, I went back to the buyer with an idea….basically, I would come down to $90,000 if I was allowed to make the sale public so that I can mention my other domains in the hope of making up the value I felt I was losing in this transaction. The buyer agreed to this but wanted to remain as anonymous and also protect the actual domain name which I felt was fair.
The domain then went into escrow and completed 7 days later. “
I was told Ron Jackson was notified of the sale, be he won’t be able to chart the name because of the confidentiality (I was told he would mention the sale though). Pro.Flowers was reportedly sold for $50,000 last week. I was told this is probably the largest new gTLD domain name sale from someone in the UK.
It looks like Adam has some other solid new gTLD domain names in his portfolio. He owns Mobile.casino, Live.casino, Travel.money, and Online.school. It looks like his investment has already started paying off.
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