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Danish company paid "bastard" $100K for coolshop.com

Labeled as domains in Domain Industry News, started by Embrand, Apr 26, 2020

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  1. Embrand

    Embrand Top Contributor VIP ICA Member ★★★★★★★★★★

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    One of the most succesful online shops in Denmark, Coolshop, paid $100,000 for coolshop.com, they have revealed.

    According to Danish newspaper BT (https://www.bt.dk/kendte/kendt-mill...mmelige-agenter-begaa-ikke-samme-fejl-som-mig), one of the owners' biggest regrets was not securing the .com right from the beginning after they began expanding using coolshop.dk. This is my loose translation:

    "We found out a tattoo artist in Texas had bought it. That was quite a pity, because by then our business was going strong. But this guy had smelled money - the bastard," says co-owner Jacob Risgaard.

    "So it took some time using secret agents and what have you to get this .com domain," he says.

    In the end they ended up paying $100,000, and Jacob Risgaard advises all companies he invests in to secure the .com version as soon as possible.

    Jacob Risgaard is a serial entrepreneur and part of the Danish version of the UK's "Dragon's Den".
     
    Last edited: Apr 26, 2020
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  2. Samer

    Samer Top Contributor VIP

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    “Dragon’s Den” the original “Shark Tank” :)
     
    Last edited: Apr 26, 2020
  3. Embrand

    Embrand Top Contributor VIP ICA Member ★★★★★★★★★★

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    Yes, I was looking for the US version, but couldn't find it :)
     
  4. pb

    pb Established Member ★★★★★★★★★★

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    coolshop.dk registered 2000-04-12
    coolshop.com registered 1996-06-17

    So if "a tatoo artist in Texas had bought it", he/she must have bought it off the previous owner or at an expired auction. And it wouldn't surprise me if he/she wasn't even aware of some random Danish company using such a brand. I mean, it's the first time I hear of it and we're practically neighbors. While the (.com) domain is, nomen omen, pretty cool on its own.
     
  5. vravis9

    vravis9 Top Contributor VIP

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    It sounds like they didn't get value of domain name and blaming others for securing that name...

    Its not clear if that tattoo artist running a shop/site with this name...

    I think it is general description...and doesn't hold any rights for the buyer here...

    Am I right?

    Thanks,
    Ravi
     
  6. Embrand

    Embrand Top Contributor VIP ICA Member ★★★★★★★★★★

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    It does seem that tatoo artist used the domain for many years as an active site:

    http://web.archive.org/web/20060216114823/http://www.coolshop.com/

    So yes, they have every right to sell at what price they want or not sell at all... I do think the Danish buyer's use of the word "bastard" was used in a light-hearted way, though. He just loves to make good deals, but this one he couldn't get at a bargain ;)
     
  7. cooljub

    cooljub Established Member

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    Still looks like a bargain to me (y)
     
  8. Reddstagg

    Reddstagg Top Contributor VIP Gold Account

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    And the tattoo artist is now known as 'Rich B'stard' or 'Lucky B'stard'

    All's fair in love and domaining.com
     
  9. QuestFuture

    QuestFuture Established Member

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  10. BlackCatsAreNice

    BlackCatsAreNice Established Member

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    $100K is chump change(tm).

    I would have not accepted less than $1 MILLION!
     
  11. iKhalyfah

    iKhalyfah Established Member

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    :xf.grin::xf.grin:
     
  12. iKhalyfah

    iKhalyfah Established Member

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    Too bad!:whistle:
     
  13. BlackCatsAreNice

    BlackCatsAreNice Established Member

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    It's all about perspective and patience.

    Seller probably sold for $100K because he/she felt "wow, $100K is a lot of money"!

    But if you're someone who is on stable financial ground and $100K is not gonna affect your net worth much, then WAIT.

    Trust me, if a company is willing to shell out $100K now for a domain name, they'll be begging you to sell for $1 MILLION in ten years.

    So just think of what kind of dirty word they'll be calling you then!
     
  14. BRANDERX.COM

    BRANDERX.COM Top Contributor VIP

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    So is the "bastard" a domainer by default, or is every domainer a "bastard" by default?

    hmmm
     
  15. Reddstagg

    Reddstagg Top Contributor VIP Gold Account

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    Good morning,

    Unfortunately, patience will not pay the bills and I'd imagine that every tattoo shop is now closed in the current climate.

    I'd say this is an ok name and nothing too spectacular compared to others that have sold in this price range.

    I'm neither rich or that experienced so probably would have taken $10,000 for it.

    Money in the hand would be a better strategy for most domainers today if only just to pay renewals.

    In business, much can happen in 10 years and without the right branding and website the business could close and all your patience would buy you then would be dust and 100,000 good reasons why sometimes you have to take what is in front of you rather than some neverneverland pipe dream that will never happen.

    Obviously, this is just my opinion and it is seen from my perspective but I bet there are many who agree.

    Enjoy the journey.

    Regards,

    Reddstagg
     
  16. Indyna

    Indyna Established Member

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    Denmark as a rule doesn’t believe anyone should be able to sell a parked domain name for a profit... something to keep in mind if you wanted to register a .dk domain. A person can appeal to have you relinquish your .dk domain if it is parked for sale and not associated with a related website.
     
  17. Embrand

    Embrand Top Contributor VIP ICA Member ★★★★★★★★★★

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    Yes, that is correct. The .dk registry is very strict regarding this.
     
  18. Pazu

    Pazu Established Member

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  19. DigitalRoar

    DigitalRoar Investor & Creator VIP

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    Lol. Always secure the .com ASAP, the sooner the better or stuff like this happens when they realize you made it big with that name & will bump up their price.
     
  20. Ariff BD

    Ariff BD Established Member

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    What if i reg a dk in dyna n foward to a relevant fb page made by me, suppose covid.dk & also outbound?
     

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