Upcoming $10 Million Domain Name Sale?

[LarryWentz]

Some of you may or may not know that Freelancer launched a new platform for selling websites & domains at Freemarket.com. Anyway if the bidding is legit - bids for Payment.com has reached a $10 million price with reserve met.

Note - I think there will be a # of improvements/changes coming up at at Freemarket which "may" provide a good place to list your domains for sale down the road.

 

[NameYourself]

It's one of the few industries capable of garnering bids of that size.

FYI the domain last changed hands (when publicly reported) for $250,000 five years ago (read).

 

[LarryWentz]

That was a "major" bargain at 250K for that name IMO

 

[TheLegendaryJP]

I can believe it if their is a huge plan by an end user to start a brand or something but the name on its own is worth no where near this... for that reason and its extreme genericness limiting its targetability (word?maybe) I think it stinks to high heaven.

I mean how many end users started to want this so bad they are all bidding 7 figures+, may be true but sounds too good...you know what they say.

 

[rfdomn]

I think Freemarket.com domain marketplace has been started so quickly in order to "use" this sale as a showcase of how good and profitable is going to be the marketplace.
It's a good move, and if everything will go smoothly, Freemarket.com will receive a lot of positive exposure, which is not bad for the domaining world.

 

[LarryWentz]

Well initially I believe bids were at the $1 million price point if I remember right with reserve not met (could be wrong). I'm assuming a bidder asked what the reserve was & was given it. I "think" there are 2 bidders.

Freemarket knows they need to do many improvements/changes to the system (example - next bid options are currently $5 increments which is insane plus I don't believe auction extensions are in place for last minute bidders - big mistake)

What's definitely appealing is only a 5% commission.

 

[rfdomn]

Yes, i consider it as a beta version of a potentially good marketplace.