The big news out of China today was the massive peer lending ponzi scheme that conned nearly 900,000 investors out of $7.6 billion. To put this in perspective, the Madoff fraud total was much larger at around $65 billion, but the number of people scammed by Madoff was much smaller at around 5,000. 900,000 is a huge number, and there are an estimated 2,000 more of these online peer to peer lending sites in China. I imagine many of them will be losing business after this fiasco. The appetite for alternative investments in China is massive, and domains is just one piece of that pie. It seems to me that there may be a few more people in China looking for a new way to invest now.
I’m not sure if the the low price/high volume is good or bad for 5L, 6n, and 7n. Could it be that demand is picking up and taking in the low hanging fruit?
Good question – I wish I knew more about how they are getting this fixed price data.
I’m 100% sure they make it up. 🙂
Haha – that isn’t what I meant. I wonder if they know that the sale closed or if they assume the sale closed because it isn’t listed anymore.