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November 09, 2013

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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.

Castello Brothers Sell LagunaBeach.com -  KK.com Goes for $2.4 Million - Ward.com Acquired for Just $2,999!

Some notable domain and website sales have been reported over the past 24 hours. In a rare occurrence, the Castello Brothers let one of their developed geodomain properties go, a

two 2-letter .com changed hands for seven figures through Moniker/SnapNames and a very nice one-word/popular surname .com was acquired for next to nothing at Sedo.

In the website sale, Castello Cities Internet Network (CCIN) CEO Michael Castello announced the company sold  LagunaBeach.com to local media group LB Interactive for an undisclosed sum. 

 

CCIN's Kate Buckley brokered the deal and she will be working with LB Interactive to ensure a seamless transition. The Castellos have several other well-developed geos including PalmSprings.com and Nashville.com. Last year they signed a Nashville.com development deal with DevDigital that has taken that site to new heights.

A statement from LB Interactive made it clear they will be giving LagunaBeach.com a major makeover as well. It said, "Over the next few weeks we will be working closely with CCIN to ensure a smooth transition before introducing a completely new look featuring state-of-the-art technologies that will transform LagunaBeach.com into one of the world’s most impressive city sites – providing a wealth of information about Laguna Beach for our visitors and residents as well as generating maximum revenue for our advertisers."

Earlier today Moniker/SnapNames brokers John Mauriello and Kevin Kopas reported on Facebook that they had completed a blockbuster $2.4 million sale of KK.com. That deal will rank as the second highest domain sale reported so far this year when it is added to our YTD Top 100 Chart upon its next weekly update Wednesday. 2013's top  domain sale to date was also a two-letter .com - IG.com which sold for $4.7 million.

At the opposite end of the spectrum, several readers sent us messages yesterday when our latest weekly domain sales report showed Sedo selling Ward.com for just $2,999. The 

common refrain was "Surely that is a mistake!" It certainly looked like one. In addition to being a one-word .com, Ward is one of the 100 most popular surnames in America (#66 to be exact according to one popular source). One would expect it to sell for many times the price it did.

None the less, Sedo confirmed that the seller listed it for $2,999 with a Buy It Now option that a lucky buyer quickly pounced on. The domain has already been received in Sedo's transfer account, so it looks like those 

Celebration photo from Bigstock

"too good to be true" stories may not always turn out to be fiction. This could  encourage more people to go through Sedo’s BIN listings frequently and thoroughly!

Update: "To good to be true" wins again! According to a reliable source Ward.com had been stolen from the owner - hence the cheap Buy It Now price on Sedo. Though Sedo held it briefly in their transfer account (according to the WhoIs record) it has now been returned to the rightful owner. So,  this story has a sad ending for the buyer who thought they were going to get the bargain of a lifetime, but a happy one for the real domain owner. 

(Posted November 7, 2013)


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