Labeled as sales in Domain Industry News, started by equity78, Oct 20, 2020
Mike Mann tweeted he sold LightRock.com for $94,888
Hard to believe
Sometimes I'm thinking that he's not telling the truth. Maybe I'm wrong.
He also reported it on LindedIN this morning
domain is "pending transfer"
nothing to doubt here.
You can not maintain a portfolio his size and not make sales of this figure.
Just add "power" .com to the end of this name and it seems like a good Upgrade if you ask me
If I had to guess :
https://www.lightrockpower.com/usa/ Price seems perfect.
Interesting. Why 94,888 ?
Lucky number. https://en.wikipedia.org/wiki/888_(number)#Symbology_and_numerology
Lucky number with lucky domain name (dn is nice but...) = bingo
It could be true. Why not?
Quote Samuel...“The harder I work, the luckier I get.”
Mike Mann is hard worker.
we should all be happy to see this, its only a matter of time before domains get to join the crazy explosion in asset valuations going on now.
From the whois record, noticed one curious fact:
Domain Creation Date: 2001-01-24T11:41:55Z
It's now 2020. 19 years of cumulative waiting period for this mouth-watering sales to have happened.
How many of you would accepted 5k ? or 10k ? or maybe 25k ?
$94,888 - domainers who have done business in China know why any name would sell at that price ... But I am confused, are the Chinese still buying domains or did Mike Mann legitimately persuade someone to pay that exact amount ... even after escrow fees, it would be a different figure altogether
I would be very cautious to assume this is a genuine sale, looks like something else
Not giving up!
I don't believe it
doesn't make sense
It might be a Chinese buyer, but DomainMarket, other than the $1 million and $2 million names, tends to price almost all of them ending in 888. The reported figure would be what buyer paid, not after any fees like Escrow, I think. I had always assumed that DomainMarket just handled transactions themselves, not going through third party escrow. Not sure.
There are a number of companies in different sectors using the Light Rock name (venture capital, real estate, construction, digital, and a couple not obvious). Would also be perfect for a light rock radio station.
In any case, a really fine price. Does anyone know if he mentioned if it was BIN at that price, or was a negotiated deal?
Bitcoin is up over 1,000 dollars in 24 hours, its up $8,000 in the past 18 months
Gold is up about $500 is a year
Stocks unrelated to the pandemic (or loosely related) are going bonkers.
Pinterest up 100% in 3 months
Fiverr from $25 in march to $177 (yesterday)
Twitter 100% in less than year
SnapChat 200% in less than year
Home prices and even used car prices are going up and up.
Used Rolex watch prices are in a bubble, so is art etc.
Every asset class is in territories that logically makes no sense at all. It always starts the same, people in that asset class that have been in it for years think a few sales is just some random spike, maybe a fat finger trader, and soon they realize its not a fluke, at least for a while it will explode higher. It does not make something not a bubble, it just means that if you happen to know what you are doing, you could make money from irrational buyers.
I predict in the next few months we will see many domain sales that will make us wonder why? Is it legit?
Governments have pumped trillions of dollars in stimulus and into markets during this pandemic. You always have inflationary reactions to easy money.
When you have people making so much money easily, 100k 500k is not money to them, it is to us.
Very good asking price
Trust me when I say I’ve been there and done that and I am well aware of value appreciation on certain investments
I can tell you I had the opportunity to represent all of Mike Manns portfolio once upon a time, I knew someone who was genuinely interested in his entire portfolio, but he would not sign a contract when I was a broker at that time ... he told me he wanted $100M and he was not willing to sign a simple contract
Now I have learned to take everything that is reported with a grain of salt, I however am also aware there are some sales that occur that do blow minds, I mean I sold sicily.properties one month ago for $1,200 - a name my partner and I registered in 2014 ... so I understand value appreciation very well,
I just do not view all the domain news as genuine, especially Mike Mann news, he is notorious for selling the most idiotic names for loads of money, a good example of this is the name, TruckCrashLaw.com which he apparently sold for $9000 ... I don’t know, just does not seem authentic to me
What are your thoughts on these name sales from the past year (from dnj)
BoatsForSale is just “bragging rights” for OneMarine whom owns it now, in 2013 the name was sold by Frank Schilling for half that ... even still it’s one of the few triple keyword domains that can hold a six figure valuation and sell for six figures
BettingTips is not surprising at all
Green Street is brandable for the marijuana industry, also not surprising ... I represented Blue.com 5 years ago and they could not even get a $100K offer - makes no sense, the Blue Man group passed, IBM even passed ...
FiveNine - interesting result
FactoryOutlet - two sub par keywords -
Here’s a funny one for you, why is Cats.com still for sale, look who owns Dogs.com ... Guess what, Petsmart passed ^
Steve Wynn, Smith & Wesson, and South West Airlines passed on SW.com 😂 actually Southwest offered $100K - did not move for a year and the name ended up selling for $600K in China
How is it that Mike Mann can sell sub par domains like LightRock.com for $100K yet seven figure domains and domains that actually make sense sit unsold or sell to the next investor, because an enduser does not understand domains or is too stubborn to make a fair offer ... I just don’t get it, and you can say I’m drinking hatorade but honestly, think about it ... when you look at dnj results, you gotta think to yourself and ask yourself, “are all of these authentic sales”
I was just about to mention that domain market also uses the 888 price strategy. I always thought it was setup that way for chinese investors but i just did a little search now and it seems 888 has a great positive meaning not just in chinese but in lots of religions, numerology, life etc... Makes you think.
I do think LightRock.com $94,888 sale is legit its just a good example of how a domain that doesnt have that apparent value can sell for this amount for the right enduser at the right time.
Considering the fact that he's a multimillionnaire, do you really expect him to price his assets at $200?
He's a domainer just like most of us, but at a way bigger scale. Honestly, I'm pretty sure that a domain like the one you mentioned would go for XXX (if not XX) in auctions here on NamePros...
Big difference is that he's able to reach out to serious potential buyers with enough money to close 4-5-6 figures deals like this one on a pretty consistent basis.
exactly TruckCrashLaw would be a name we would see go for free here, but someone actually bought the name for $9K
Light Rock USA probably are the ones who bought the name, They are a solar farm and as we know solar is a big deal right now
I am just interested in knowing the conversation, I mean this is a total inbound lead, and what figure did Mike Mann start off with and negotiate down to $94,888 ... seriously, did he respond, $150K ? $300K ? Or did he just say $94,888 and the buyer just said “yes ! that is a great price” lol
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