By the time the last hammer dropped in Austin, Texas, an auction in January 2020 earned $1.8 million in sales.
The auction had not been for vintages, vehicles, or jewelry. It was for virtual property– an online domain public auction for domain.
Of the Dot, a domain brokerage, arranged the auction at the NamesCon domain name meeting.
History of Live Domain Name Auctions
The very first in-person domain name public auction probably occurred at an early domain meetup arranged by Rick Schwartz, a domain capitalist additionally understood as the “Domain King”.
They proceeded at Schwartz’s TRAFFIC domain seminars that started in 2004.
In 2007, a domain auction at TRAFFIC grossed over $10 million in sales.
That was the high-water mark for domain public auction results, yet auctions have continued since then at numerous events.
For the auction at Namescon last month, Right of the Dot generated International Auctioneer Champion Wayne Wheat to lead the public auction.
Wheat auctioned 136 domain. Many of them had get costs so an overall of 74 of the domain names really offered.
Bidders might participate by increasing their paddle onsite in Austin. Those that couldn’t make it had the alternative to bid with a site.
When Directions.com shut at $75,000, the public auction chose up steam regarding 10 lots in. The initial six-figure sale was Please.com, which cost $141,000.
Add.com was the leading sale of the auction. The crowd expanded thrilled as bidding process increased. A net bidder paid $800,000 for the domain name.
Offices.com was the second-highest at $260,000. It offered to a person in the space in Austin.
It took a number of hours to resolve every one of the auction great deals, yet both the coordinators as well as the target market was thrilled with the $1.8 million last tally.
Domain Auctions at hand
Live, in-person domain name public auctions typically occur just when or twice each year. You do not have to wait till following year if you want to get your feet damp in a domain name public auction. On the internet domain name public auctions happen each day on sites like Sedo and also Flippa.
Desire to raise your digital paddle in an online domain name auction? Below’s a handy guide.
The article Live Domain Auction Sells $1.8 Million in Domains showed up initially on Namecheap Blog.