While talking to a friend from China. The prices have been coming down for the last few weeks.
He told me he spoke to a friend who was a big buyer in China
he told me the current LLLL market in China is sinking quickly. This is because a major industry company 1618.com has scandal. Many Chinese domainers send their LLLL.com, even LLL.com, NNN.com and Pinyin.com to 1618.com for mortgage. But 1618.com then send all these domain names to another mortgage company Midai123.com (owned by the CEO of 4.cn) for another big mortgage (close to $15million USD), then the owner of 1618.com escape from China with the money. So currently countless of domainers can’t get their domain names back, which caused the current LLLL.com market down, and LLLL.cn almost has no value for now. Big affects to our industry.
Here is an article in Chinese that explains some of the stuff going on with 1618.com. I used Google translate to read most of the text.
https://m.sohu.com/a/238452567_268813?from=groupmessage&isappinstalled=0
This is a major event in the Chinese domain name industry, certainly a big deal. Thousands of domainers became victims of this scandal.
The headline is translated to read 1618 domain name fraud case, the scope of radiation across the country, involving around 15 million USD!
Snoopy says
July 11, 2018 at 6:30 pm“for mortgage”
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That will cause a meltdown of itself. Borrowing against domains = bad news most of the time.
page howe says
August 12, 2018 at 12:22 pmcontributes to the illusion of liquidity
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