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.”
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.