news L7.com sells for $60k

[JudgeMind]

I noticed the no reserve auction for L7.com ended at only $60k and change. Seems very low for such a short .com name. I would think that Chinese investors would be all over that name and be willing to pay in the 6 figure range at least.

 

[DomainPluto]

I had a buyer for this name, that was ready to pay even 6 figures for it, but he refused to bid because it was on Flippa. Unfortunately, the seller wasn't very smart either and quoted a mid 6 figure price when I asked him if we can discuss about a BIN. We could easily have done a deal together and he could have got so much more than this...

If it was in a private deal, my buyer would buy it for much more than $60000 any day.

Damn... sounds like a lot of change left on the table.

 

[Kunal Joshi]

It sure should have been sold for more..

 

[namerav]

Compared to recent sales a bit low maybe around $75000 would have been good. But when you compare overall sales of similar domains the price is ok.

 

[fivehead]

I was going to be sorely disappointed in my domain bros/sis' if this wasn't mentioned (kinda disappointed it wasn't applauded), so thank you.

Sandlot FOR-EVER!!!

 

[frank-germany]

How much a name like L70 .com should sell after L7 .com sold for $60,000?

here is what sold lately

http://domainpayout.com/3lcommix.php

 

[Recons.Com]

Also a way to describe what I mean, yes.
BTW It's called Yin (and) Yang.

Cant wait for .yang extension to come out. Then we can all have a bidding war for the only domain that perfectly fits the extension...

 

[BoothDomains]

It didn't sell. The owner made some excuse that he listed it wrong and was meant to have a 6 figure reserve so Flippa is trying to sort it out.

 

[Aaron Soto]

It didn't sell. The owner made some excuse that he listed it wrong and was meant to have a 6 figure reserve so Flippa is trying to sort it out.

That stinks. Isn't the seller legally supposed to sell for that price now that the auction is over?

 

[BoothDomains]

That stinks. Isn't the seller legally supposed to sell for that price now that the auction is over?

Yep. I bid to $60k. I was then informed by Flippa that the seller was refusing to sell as they apparently tried to put a 6 figure reserve. Also if you look at the final bids it was from a brand new account which kept outbidding me. Likely from the seller so they were not obliged to sell.

 

[Recons.Com]

Sorry to hear that...

Flippa story does not make sense. If they "forgot" to put reserve, they had plenty of time to rectify it, as well as put somewhere in comments the situation not to waste people's time. Buyer could have missed out on similar opportunity.

 

[elevator]

That is a great wrong story in deed. The owner has every right to his domain, at worst he will be suspended from flipa. The y shoukd have corrected their fault before the commencement of bidding. Sorry to say that any way.

 

[venturefile.com]

It didn't sell. The owner made some excuse that he listed it wrong and was meant to have a 6 figure reserve so Flippa is trying to sort it out.

Kinda had a feeling it might go this way from the attitude of the seller when I was talking to them... At 60k this was clearly a bargain...

 

[DOMAIN ILLUMINATI]

Cant wait for .yang extension to come out. Then we can all have a bidding war for the only domain that perfectly fits the extension...

Yes, but yin.yang isn't possible these days - so why not taking win.wang in the meanwhile??? ?? ?

 

[bytedo]

Where is @FlippaDomains? He can shed some light on this matter

 

[FlippaDomains]

Where is @FlippaDomains? He can shed some light on this matter

Thanks, didn't know this existed until you tagged me. I'll shed some light shortly.

 

[FlippaDomains]

I had a buyer for this name, that was ready to pay even 6 figures for it, but he refused to bid because it was on Flippa. Unfortunately, the seller wasn't very smart either and quoted a mid 6 figure price when I asked him if we can discuss about a BIN. We could easily have done a deal together and he could have got so much more than this...

If it was in a private deal, my buyer would buy it for much more than $60000 any day.

That's unfortunate; in the future, I would like to know why that hesitation exists and if there's anything I can do to help.

It didn't sell. The owner made some excuse that he listed it wrong and was meant to have a 6 figure reserve so Flippa is trying to sort it out.

This is true; see below.

That stinks. Isn't the seller legally supposed to sell for that price now that the auction is over?

Technically, yes. But, see below.

Yep. I bid to $60k. I was then informed by Flippa that the seller was refusing to sell as they apparently tried to put a 6 figure reserve. Also if you look at the final bids it was from a brand new account which kept outbidding me. Likely from the seller so they were not obliged to sell.

That high bidder was confirmed. But....see below.

Sorry to hear that...

Flippa story does not make sense. If they "forgot" to put reserve, they had plenty of time to rectify it, as well as put somewhere in comments the situation not to waste people's time. Buyer could have missed out on similar opportunity.

True, but....See below.

That is a great wrong story in deed. The owner has every right to his domain, at worst he will be suspended from flipa. The y shoukd have corrected their fault before the commencement of bidding. Sorry to say that any way.

True, but...

...This was a bit complicated and we (Flippa CS / Marketplace Integrity / myself) were unable to intervene until it was too late.

The request to change the reserve price *was submitted* but the change was not enacted, and their support ticket not escalated as it should have been; that said, the seller *should* have alerted bidders to tip you / our staff / myself off much sooner - as was alluded to above - and do everything in their power to make enough noise. We would have simply reset the auction.

Because there was an attempt to reach out to us to change the reserve price with time to spare, I cannot deem that this was a simple case of seller's remorse. I do believe it was an unintentional mistake, although I don't think enough was done to alert the right people in time.

In the end, the seller refused to sell. This wasn't going to complete under any circumstances, so I cancelled it out.

 

[Recons.Com]

@FlippaDomains

Today noticed there were two auctions for the same domain QIEL.com at different platforms: GD and Flippa ending within 1-2 days from now.

At GD the bids were over $1,300, while on Flippa amount was much smaller.

I put a comment on the auction warning bidders that this domain is sold at two auctions at the same time and provided the link.

The seller just removed my comment and closed the auction, since he was expecting to get better sale on GD...

I don't think this should be an acceptable practice as it would have been another similar story setup, someone winning and others spending time just to find out it is sold somewhere else...

Regarding L7, it would be fair to compensate buyer in some other way, maybe enough credit to promote his next domain sale on your platform to compensate him for time wasted.

 

[FlippaDomains]

I don't think this should be an acceptable practice as it would have been another similar story setup, someone winning and others spending time just to find out it is sold somewhere else...

I agree, and this should always be reported to myself and our Marketplace Integrity team.

Regarding L7, it would be fair to compensate buyer in some other way, maybe enough credit to promote his next domain sale on your platform to compensate him for time wasted.

I offered to assist further, from both a buying and selling perspective.

 

[WhoaDomain.com]

O2 is huge.
Loads of companies callled T2.

First two names I chose were developed C5 and D7 (Division)

There are a bunch of LEVEL 7 names that could take L7, imho.

And R8 is a brand...

I wonder who owns or bought G6.com? as in a G6 private jet? lol there seems to be no sales history. anyone?

 

[domainer51]

Vgp.