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August 27, 2012

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Here's the The Lowdown from DN Journal,
updated daily
to fill you in on the latest buzz going around the domain name industry. 

The Lowdown is compiled by DN Journal Editor & Publisher Ron Jackson.

Richard Gabriel Sells DropShippers.com for $1.5 Million - His Second 7-Figure Sale in Five Months

Richard Gabriel has just closed the $1.5 million sale  of DropShippers.com to Tom Hashem of Scranton, Pennyslvania. You may recall that Gabriel is the man who sold Auction.com to

REDC for $1.7 million in March, so he has now racked up $3.2 million in just two transactions over the past five months. 

Gabriel said that Hashem was originally planning 

to buy a different name but the seller backed out before that deal was closed so he decided to go after the category killing name that Gabriel held. Gabriel has been running his own ecommerce software on the domain in recent years. He said Hashem bought the name only but Gabriel also gave Hashem the software because Gabriel will have no use for it after signing a 10-year non-compete agreement as part of the deal.

(Update Sept. 2, 2009) - For those wondering why this sale does not appear on our 2009 Year-To-Date Top 100 Sales Chart, the inclusion of a software platform in this transaction made it more than a domain only sale (a requirement to be charted). Also, $500,000 of the $1.5 million purchase price was financed and will be paid off over 10 years. Until the full amount has been received it can't be ranked on a chart as a completed sale at $1.5 million (according to the sales contract, $1 million was paid upfront). More details on this transaction are in the weekly sales report we published Sept. 2, 2009.

(Posted August 21, 2009)

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