The domain name Nightlife.net is at auction on CAX.com and with just over a day to go has a high bid of only $2K.
According to DNjournal.com the domain sold back on May 13, 2008 at AfternicDLS/Sedo.com for $20,000.
The domain has a appraised value of $29,000 according to Valuate.com
It’s something that we haven’t seen on a regular basis, people putting up domains they purchased for some serious money into auctions with little or no reserve, either trying to raise cash or close the transaction out for tax purposes.
Not the worst idea in the world.
We will let you know how it ends up
I am definitely looking forward to seeing what this domain ends at today. I will be impressed if it hits $5K, though.
Michael, is there a reason you haven’t covered the $351,000 sale of Possible.com at Cax on Saturday? I blogged about it a couple of days ago with surprising reaction from the domaining community, but no major industry blogs have spoken a word about it.
Yeah, I am curious about the Possible.com auction as well. Thanks for posting the story.
All I heard during the “domain bubble” is that domains are like real estate. Now I am starting to believe it.
Attila
Last I heard possible.com was at $91K, then there was the TRAFFIC show and honestly I don’t think I got more than 1 hour of online computer time work in in 5 days.
The hotel at least for me had a lot of connectivity problems and I really find it hard to find anytime to get normal work done while these shows are ongoing.
So the answer to your question is I didn’t know about the sale.
@MHB
I keep forgetting that it was a pretty busy weekend elsewhere in the industry. You can still see the sale page at Cax.com/Possible.com
Cole
Thanks for the info.
Unbelievable price for that domain.
This is why I only attend a couple of domain shows a years.
I answered about 350 emails yesterday morning as I bagged the final morning activities at TRAFFIC.
Thanks for bringing it to my attention, I will throw something up now.
Cole
I also think at that price we should wait to call that one a done deal until the domain gets paid for.
At the moment the page is showing payment pending
Good idea. I keep checking the WhoIs and sales page to see if things change. I am sure a transaction like this takes some time to close.
Did the hotel charge for internet? I hate how hotels are now charging to use the internet. It was free years ago everywhere and now it seems they want $5 or $10 a day just for usage. Makes me sick how desperate hotels are getting.
Sorry for getting off topic. And the airports too, wanting $2-3 for internet usage. I’d rather buy a coffee at starbucks and leech off their internet. Oh, oops, again :-p
The hotel did not charge for internet usage, it was free in most of the common areas, which of course could account for it not working very well
The buyer over paid in 2008 when the domain was purchased from NameMedia IMO and I’m not sure why somebody would be using a low volume domain name auction service like Cax.com with it being new and with no reserve.
Got confirmation the seller changed his mind and will not accept to sell his name under $20K.
The auction is going to be cancelled immediately, bidders informed, the seller account closed and this seller banned from all our domain sites.
I have ZERO tolerance with unserious people, it’s before submit a name you must decide of the reserve, not after, and less when an auction is happening.
That’s a shame, Francois, but I am glad that you are handling it so harshly.
Still tons of great bargains on your site!
Francois
Do you make sellers sign any sort of contract prior to listing their domain, even if it is an electronically signed contract?
Might be a good idea
possible.com and shock.com most overhyped sales.. I will say this though CONGRATS TO THE SELLERS, HUGE CONGRATS AND HUGE ROI. Not so great for the buyers IMO.
go out and get a product name with a meaning and type inn traffic for that much cash imo..heck you can even get a solid geo plus development with extra cash left over..
oh shock sounds so cool, great web 2.0 name and lets make into a gossip site. LOL…
And what are you going to do with possible.com?
just my 2 cents
I was offered Possible through email last year for a not so high price and was the 2nd highest bidder. Couldn’t think of what to do with the name but liked the word. Really in “shock” when I saw this auction. Please update. Shock was also surprising as compared to other sales but is an awesome name. Have to think the new owner would put up an entertainment site with the money spent on it.
No, I have them pay a single time fee of $10 to can buy or sell.
Thanks to that such behavior is now an exception when this summer still 30% of sales did not end successfully due to the seller or buyer not acting seriously.
I know now I must work on creating a good term of service document and have members read and approve it so all is clear and bad behaviors that may also come from the lack of information/education will be erased.
Step by step improving all this, I am not unhappy of how all this is building.
First I’ve heard of CAX.com has everybody else heard of this place before? Where was I? I know there’re countless fly by night domain marketplaces out there. Is this place for real? If so I’ll start checking it. Perhaps the domain would have gotten more bids somewhere well known like Sedo?
Flowers.mobi comes to mind. Purchase price 200K (cough) sales price 6.5K.
Good thing Rick has an uncanny ability to see the future. (cough)
Possible.com UPDATE: According to the sales page, the buyer has paid! The WhoIs records also show an October 21st update date. Looks like the deal is pretty much done, folks!
I eared that nightlife.net is also seeking a good broker to sell it. if anyone is interested contact him using the form on the website