Occasionally in domain name investing, one believes that there's a name which could fetch two to ten times its purchase price in days. These domain speculators buy names with intentions to flip quickly for a profit. This can happen with some domains, though others may take longer. Nevertheless, ITMagazine.com took 27 days, with a higher return on investment.
It’s reported that @Shane Bellone of NamePros had privately acquired ITMagazine.com for a mere $120. With only an expense of $349 to make it a Flippa showcase auction, he let the domain sit idle at $3,250 for a week when he chose to offer a buy it now price of $15,000. That price was quickly retracted as there were no bidders and he feared that it being a no reserve auction with that high of a price may scare bidders off. Subsequently, it was then bid up to $3,750 in the following weeks, taking its course to the last 5 days of the auction.
However, there was a private offer of $10,000 on the table. For a name bought at such a low price and an offer like that, Shane couldn’t resist. He added the buy it now at $10,000 and the auction ended in a sale four days sooner.
The eventual end user being duolCi may have been getting Cease & Desist orders from Apple Inc. for using their iCloud trademark and distributing copyrighted material of iPhone hacks. The tools and details they shared helped users with iPhones bypass iCloud activation. Since Apple was pressuring them, they decided a new domain name would be best.
Their old site was fairly new and the domain was created in May of 2014. Though, that didn’t stop Apple Inc. from finding and pursuing the case. This was most likely due to high exposure in authoritative articles on sites including PCMag.
Shane is pleased with the deal, and it also appears that the buyers of ITMagazine.com are happy with Apple off their case, for now.
Congratulations to Shane Belone for turning $120 into $10,000 in under 1 month!
It’s reported that @Shane Bellone of NamePros had privately acquired ITMagazine.com for a mere $120. With only an expense of $349 to make it a Flippa showcase auction, he let the domain sit idle at $3,250 for a week when he chose to offer a buy it now price of $15,000. That price was quickly retracted as there were no bidders and he feared that it being a no reserve auction with that high of a price may scare bidders off. Subsequently, it was then bid up to $3,750 in the following weeks, taking its course to the last 5 days of the auction.
However, there was a private offer of $10,000 on the table. For a name bought at such a low price and an offer like that, Shane couldn’t resist. He added the buy it now at $10,000 and the auction ended in a sale four days sooner.
The eventual end user being duolCi may have been getting Cease & Desist orders from Apple Inc. for using their iCloud trademark and distributing copyrighted material of iPhone hacks. The tools and details they shared helped users with iPhones bypass iCloud activation. Since Apple was pressuring them, they decided a new domain name would be best.
Their old site was fairly new and the domain was created in May of 2014. Though, that didn’t stop Apple Inc. from finding and pursuing the case. This was most likely due to high exposure in authoritative articles on sites including PCMag.
Shane is pleased with the deal, and it also appears that the buyers of ITMagazine.com are happy with Apple off their case, for now.
Congratulations to Shane Belone for turning $120 into $10,000 in under 1 month!
