When you take a look at the Traffic auction, there were some decent bids not accepted.
Prague.com received a $200,000 bid. The asking price was $800,000. This is not a good worldwide economy, the notion that a city of 1.3 million would sell for $300,000 more than Brazil.com, a country of 192 million plus is fantasy imo. $200,000 was a very good bid, the seller can do whatever they like but don't blame TRAFFIC.
Dubai.com $750,000 bid received. The asking price was $4,000,000. This is not 2007 from Time World in October of 2010,
There's a half-off sale in the world's tallest building.
Even with an address at the iconic Burj Khalifa, rents for residences in the tower are not immune from Dubai's real estate crash. Indeed, nearly a year after it was inaugurated with a massive water-and-fireworks display, about 825 of the tower's 900 ultra-luxury apartments remain unoccupied, according to Better Homes, a real estate brokerage in Dubai.
The cost of renting a studio with floor-to-ceiling windows, marble fixtures and wooden floors has dropped to $1,815 a month from $3,025, while a one-bedroom apartment is available for $2,722 (it used to be $4,536), the brokerage says. Two-bedroom residences are expected to get $4,310, down from $7,183. Interested parties "call every few days and go for a viewing," says Imad Ben Khadra, a Moroccan expatriate who owns two 1,000-sq.-ft. one-bedroom apartments he purchased in late 2008 for about $950,000, both of which he is trying to rent out. "We got some offers [from prospective tenants], but nobody confirms." (See pictures of the Burj Khalifa, the tallest building in the world.) Read more: http://www.time.com/time/world/article/0,8599,2026934,00.html#ixzz1bIAQ1oto
Good points
The whole model does not work. If I could sell a domain for $500,000 I would do it without paying them 15%. People are just hoping that two big time domainers get drunk and get into some bidding war for their domain.
Unrealistic pricing is common for this industry. The point you made about Prague.com is a perfect example. I think people bought whole countries for the same price.
The poor sales result rests squarely on the shoulders of those running the auction. If some names had unrealistic reserves they should not have been accepted.
As far as I know you are the only one to offer up this interesting perspective to consider the bids offered up and not just if a domain sold or not.
Kudos.
Snoopy I think that is not entirely true. If crap names are in with xxx,xxx reserves you are right.
It makes sense to accept a name like Prague.com.
The flipside is every auction should be no reserve, you willing to do that Snoopy ?
All your names no reserve ?
@tricolorro thank you for the comment.
who were the bids on sex.co?