I didn
‘t need any additional reminders that Frank Schilling has the golden touch when it comes to investing in domains…..but I just got another one today, and it made me chuckle at the end of a long week.
I’ve been selling a few domains at NameJet this month, many of which are LLLL.com I recently picked up in a portfolio.
Wouldn’t you know it, a DomainNameSales lead came in for one of the 4L’s in the middle of the auction, yet it was too late for the buyer to enter the auction, and the domain ended up selling for around $400 to Frank Schilling.
Too bad for me that the prospective buyer’s opening offer was $500 for the same domain, but hey, that’s the risk you take when you send something to auction.
I sent the lead over to Jeff Gabriel at DNS, and I’m sure he will extract every penny out of the domain……making two out of the three parties happy:
- I’m happy because I received a price which was 10x my average acquisition price for the portfolio I purchased….no seller’s remorse here.
- Frank Schilling is likely happy because he picked up a nice name at a fair price and now has a warm lead.
- Given Frank’s history in holding out for the right price, I’m pretty sure the prospective buyer isn’t going to be too happy….I suspect they’ll have to add at least another zero to their offer price to get any deal done!
Hard luck this time!
What are the rules for pulling the name from auction at NameJet? I figured they were pretty lenient, because I see sellers pull their names at the last minute and the auction is over.
I don’t know the NameJet rules, but I’m guessing you can’t pull a name when it’s in the 3 day auction. Maybe when it’s in the pre-release period?