The domain name 588.com has sold for $1 Million dollars.
The domain sale comes on the heals of Rick Schwartz announced sale of 899.com last week for $801,000 and the sale earlier this year of 345.com at $800,000 by our company MostWantedDomains.com
The sale of 588.com was brokered by Goldenname.com (4.CN)
The domain was in pending transfer status on August 19th and transferred to the Chinese domain name registrar ename.com around August 25th.
The Chinese domain market remains on fire despite problems with their stock market and the devaluing of their currency.
On July 19th we reported that Rick Schwartz sold 9595.com for $195,000
The sale of 588.com should be ranked by DNjournal.com as tied for the 2nd highest reported domain sale of 2015 with 3 of the top 5 domain sales of 2015 being three-letter .com’s otherwise known as NN.com domain names which the 4th a two letter .com otherwise known as a LL.com domain.
I assume this sale will push floor prices of NN.com and LL.com nowhere just up.
Congrats to buyer and seller !
i wonder if Rick is kicking himself right now. I think 899 is better than 588 even though it has the double 8 and 345 is even better than these even though it has a 4. I bet 345 would get at least $250,000 more if it was sold right now.
It was purchased by an investor for resale, so we can say a wholesale price for NNN.com has reached 7-figure.
NN.com is 7 figure wholesale, not so much on NNN.com’s even if it was purchased by a reseller. Wholesale on 588 was 7 figure 🙂 but not the category of NNN.com’s.
NNN.com floor price is still in 6-figure, right.
I did say “wholesale price” … “has reached 7-figure”.
I didn’t say “wholesale floor price” … “has reached 7-figure”.
In regards to NN.com, that category is IMO possibly beyond $2M already, LL.com’s floor price will be very soon in 7-figure as well.
Domain industry is increasingly becoming “THEIR” own party. Most are simply watching them enjoying THE PARTY. Polarization may be the word of year 2015.
Fantastic to see so much investment interest in domain names!!
At this rate we’re going to see a $5 Mil NNN sale one day in the near future. 🙂
well 360.com sold for mid 7 figs once and again for mid 8 figures.
Did you have a stake or ownership in the buyers business?
There will never be more than 1000 NNN .com’s after all so one million is still a bargain.
If this is truly a wholesale price, then we may be in for more surprises soon.
The Princelings of China really love to invest in short N domains. 5 in pinyin means “I”, so quite a lucky domain.
Do I recall 114.com selling for $2m a few years ago ?
Was just recently thinking about that one too. Yes, went for $x,xxx,xxx.
I said it before and I’ll say it again: The number 8 is like pure domain investment gold in the 21st century.
(This was where I just said it before, btw: “Rick Schwartz Sells 899.com For $801,000: Now Has 1st & 3rd Largest Reported Sales Of 2015” – Sep. 15, 2015 – TheDomains . com)
>”The sale of 588.com was brokered by Goldenname.com (4.CN)”
Does anyone know why Goldenname.com mentioned here is not resolving, or is that perhaps just a regional block thing occuring?
Just for the record guys, not that anyone is engaging in the Monday QB thing, but just 8 months ago at Namescon in January we had the domain name 877.com for sale with a reserve of less than $300K and none of the big thinkers here, that know all these names are $x,xxx,xxx domains, without a 2nd thought, bid on the domain as it went unsold.
It did have a couple of bids but the domain failed to hit the reserve.
877.com
Yeah if you ask the owner now expect a price of around $1M
I assume you and Rick are going to rise the asking prices for NNN.com to 7-figure as well.
Rick already raised his prices you can see them on 399.com
If you want to buy them all maybe I can get you a deal
I only have one more NNN.com but I have over 100 LLL.com
I also have lots of NNNN.com and NNNNN.com and yes those prices are up
Statistically speaking, LL.com names are more rare than NNN.com, while LLL.com are way less rare.
In what price range you plan to sell your LLL.com names and what price tag would you put on LL.com, if you have one?
Peter
There are 676 LL.com domain names.
I don’t have any but we have brokered some on behalf of corporate owners
CF.com is a domain we are now brokering.
We have a $1.5Million bid if you have interest let me know ASAP as the board is considering the offer.
We had one at the 4.cn auction where the bidding got to $700K or so but the domain was slightly under reserve and did not sell.
There is obviously 999 NNN.com domains
‘
Mr. Schwartz has 13 left I have 1 left and 100% of the domains are being bought in the China market.
LLL.com there are over 17K of those although they are being bought by buyers from China as well as end users in the US and global company.
LL.com should have a price of $1M or more, NNN.com should have a price of $500K or more but we had 2 in the 4.cn ROTD auction which had a reserve of $300K or less and did not sell
LLL.com will only sell in china if they don’t have vowels and the liquidation price seems to be $35K or so.
LLL.com with vowels will have to be sold to end users.
Personally i own 107 LLL.com, I just sold one for $56K and have another is in Escrow.com for $150K both will be announced when closed
You definitely know your domain stuff. I now see how you set your prices. There is a domain science to setting prices on shorter LL, LLL, NNN, NN and etc. Mostly all NN and LL will fetch $1+ million.
Some domain investors let these domain names go for much cheaper within the past 10 years. Now there is higher demand to acquire these sought after investments.
The most concerning aspect of China buying up all these domains is that they will run the future Internet. They have a plan in mind, which is obvious with buying up all these numeric and shorter domains.
Many of these Chinese investors own some amazing domains. You see these domains on the numeric domain names they developed into websites.
Heyo,
It’s hard to imagine how some of the early domain pioneers (Yun Ye, Schwartz, Ham, Ostrofsky, Fischer and a handful of others) “got it right” when they invested premium, generic keyword domains. That was at a time when there were no guarantees that the Internet would grow to staggering proportions and generate such massive amounts of wealth. Now 30 years later those shrewd investors are reaping the rewards for their patience and their ability to say “no” along the way.
I believe that we may be on the cusp of a few potentially parallel opportunities – one with Frogans technologies, the other with UbiNames wireless names. Both are in the very early stages of development but I believe that they both have significant upside potential. Frogans because you can publish once for any device with some very fun, funky, creative sites, and UbiNames because of the real benefits afforded by proximal awareness and identity and the surge in the adoption of the Internet if Things – some 50 billion connected devices in 5 years estimated by some of the world’s savviest nerdy beans.
Will either of these new naming conventions gain traction in a world with thousands of new gTLDs being introduced and at a time when the demands for our limited attention spans is uber competitive? Will either technology see the levels of success that .com has achieved?
At this point I’m not sure – but I am willing to take a chance. After all, someone took a chance with Symbolics.com 30 years ago.
What’s your take?
Cheers,
Internet of Toasters. TCP/IP’s scalable subnetting can handle connection of billions of toasters without IBM.com relinquishing it’s dictionary memorability so the playing field is leveled to obscurity of a toaster.
Sold NNN.com (5xx.com) for $10k few years ago..doh!!!
5xx.con is not a NNN.com it’s a NLL.com a whole different animal
xx means numbers like 511, just not shared whole domain name as it was asked by buyer.
Charley if your asking me “Did you have a stake or ownership in the buyers business?”
I have/had nothing to do with the seller or buyer just reporting the sale
Michael
I asked “fx” that question. He owned the name 360.com as per whois history.
I am really curious to know.
@Mike,
How do you determine the price of your number dot com? When do you stop negotiating and say that’s a great offer? It gets to the point where you know what you want and sell it? When does that time come? Thanks.