TechCrunch this morning covers the auction of Wealth.com to be held on June 25th, on Sedo.com.
The reserve is set at $2,900,000.
TechCrunch and myself agree that the reserve for this domain is too high.
Wealth.com, although a very good name is not in the same catagory of toys.com or candy.com or even auction.com
I think its a domain that could fetch $1M, but I think the reserve should be more like 500K.
If you want to participate in the auction, you have to prequalify by June 15, 2009.
TechCrunch doesn’t exactly take the absolute stance that the reserve is too high. They actually added commentary mentioning that they could see some companies with deep pockets showing interest at this reserve.
“Seems to me that this is a bit high as a starting point, but I can imagine a lot of financial organization and media companies would still be interested in owning it at that price.”
Could you elaborate on your reasoning behind the claim that the name’s not in the same category” as the others you mention.
Geoff
Sure.
Wealth is not a product or an activity.
Its a descriptive term.
Toys.com is a product.
Candy.com is a product
Auction.com is an activity.
Wealth is not in the same class.
You cannot sell a direct natural product or service off of it.
Moreover where toys.com and candy.com are without a doubt the best possible domain you could have to cover the topic they cover, wealth.com is not.
One could argue that wealthy is better.
Other domains arguably, just as good or better than wealth, include rich.com, riches.com, money.com, dollars.com, millionaire.com, millions.com.
Having said that I hope the domain sells for $10 Million.
Mike:
I don’t agree that you can’t sell a direct natural product or service off of Wealth.com. An mid-range investment house can snap this up and run with it in two seconds. Furthermore, Wealth.com has strong branding power – something that “Wealthy” does not.
Oprah, can run faster then the investment house. 🙂
David
Personally I’d rather have wealthmanagement.com for six figures that wealth for $3M
I’d still take Wealth.com. It’s got megabrand written all over it. I know guys in the investment field and telling prospective clients that your site is Wealth.com is a win-win on so many levels.
Great name, but it won’t meet the reserve price.
When I chatted with sedo they mentioned that the reserve has been hit
We will see…
Wealth.com is a valuable one word domain name. However, as discussed there are similar one word domains in the financial field including finance, financial, wealthy, income, stocks, bonds, etc.
I agree that the reserve of $2,900,000 is too high, but $500,000 would be too low. I think that an appropriate reserve would be between $1,000,000 and $1,500,000, and a good buy price would be between $2,000,000 and $2,500,000.
There are a lot of financial firms that have “Wealth Management” departments, such as Barclays, but I doubt Corporate America would be quick enough to make the decision to bid on Wealth.com, if they even know that it’s up for auction. Those places have a ton of red-tape.
I’m with the seller. I’d rather have $2.9M cash than wealth.com.
I personally wouldn’t pay more than $50,000 for it. The opportunities are too great right now.
For $2.9M, I’d rather buy something like insurance.com. That name is priceless.