From Domain Name Wire - Back to the Future: iREIT Pricing Blunder
Posted April 9th, 2008 byCategories: Domain Registration
iREIT lets three letter domains go for under $1,000. Advertisement Domain investors know the value of three character domains. These domain names are in limited supply and often represent acronyms of large organizations. Although poor ones sell for under $10,000, it’s not unusual to see them sell for six figures. Last month I wrote about how […]
iREIT lets three letter domains go for under $1,000.
Domain investors know the value of three character domains. These domain names are in limited supply and often represent acronyms of large organizations. Although poor ones sell for under $10,000, it’s not unusual to see them sell for six figures.
Last month I wrote about how you can protect your three character domains from companies that want to steal them from you. But apparently I left off some other advice: Don’t inadvertently list your domains with buy it now prices under $1,000. That’s what happened to iREIT, as I was tipped off over at NameBio.
The company sold the following three character .com domains for under $1,000:
ZLI.com $500
RLU.com $900
LLJ.com $602.50
WJA.com $734.50
PQT.com $571.00
It also sold Say.org and Gut.org for $500 each.
It appears that someone at iREIT made an error when entering these domains. Perhaps they listed the “asking price” at what they meant to make the starting bid.
A few domainers jumped on the mistake and bought domains at good prices. I recently perused iREIT’s list of domains at Afternic and didn’t find much worth writing how about. It’s mostly overpriced typos and nonsense domains. (If you want, you can buy BobsFurniture.com for $1,222,839, RealIstate.com for $404,530, or mybenifits.com for $220,861.)
A little history here…iREIT has raised over $100 million to buy domain portfolios. One of those acquisitions included Domain Marketplace, which I believe the company wanted to use to showcase its domains. There was just one problem: no one knew about Domain Marketplace. They should have just plunked down a few million to buy Afternic.
iREIT has focused on long tail domain names and its portfolio is rife with typos. It appears to have cleaned out many of its trademark typos and adult domains, but it will be interesting to see how the company fares in the new domain parking environment.
© DomainNameWire.com 2008.
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