According to a press release by , a company by the name of REDC purchased the domain name, Auction.com, for $1.7 million.
The Chairman of the company a Robert Friedman is quoted as saying
I’ve wanted this domain for years and I’m thrilled that we were able to acquire this coveted top level domain,”
“REDC is without question the number one real estate auctioneer in America and quite likely the world. This is a domain we should have had from the beginning and I’m thrilled we are finally Auction.com.”
REDC’s consumer website for Lender Foreclosed home auctions, until now, has been www.USHomeAuction.com. The company is in the process of making the conversion to www.Auction.com exclusively.
According to the press release, REDC located in Irvine, California has sold more than $4.5 billion in real estate assets at auctions since May 2007.
Last week this domain was rumored to have sold in the $2.5 range, now this sale at $1.7 can be confirmed.
Here is more about the buyer:
REDC was established in 1990 and is the leading Real Estate Auction firm in the country. The company has established a dominant position in its industry by selling more than $4.5 billion in Real Estate assets at auction since May 2007. REDC’s primary clients are residential mortgage lenders and home builders. The success of the company is based on the aggregation of lender-foreclosed assets that are marketed and sold in large event-style auctions across the country. Information about REDC auctions is available on www.auction.com. REDC is a Stone Point Capital company.
Fantastic news. And what a great name. This name could be resold for considerably more given better economic conditions. I doubt it will be resold though, and is likely headed for a major release in the near future.
Quality wise it’s along the lines of Homes.com, Hotels.com, Apartments.com, etc. Very elite name.
Nice to see they paid up for it, instead of going the UDRP or reverse hijack route, given his statements about “we should have owned this domain from the beginning”. Ofcourse it’s generic but if they had tried to get the domain some other way, without paying up, I wouldn’t have been surprised. Nice sale and creates great value for his company.
Its great to read this
“This is a domain we should have had from the beginning”
People are finally getting it!
Yup…..some folks are finally getting it.
It’s IMPOSSIBLE to forget Auction.com unless you brain in full of bong resin.
@RF and Johnny
Yes, the world is starting to really get it. Having a great, clear, and an easy to remember name is important (even when somewhat wacked out like Johnny references)
http://www.thedomainscene.com