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November 18, 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.

Final Countdown Underway for Landmark Heritage Auctions Domain Sale Coming Up Thursday

For the first time one of the world's three biggest auction houses - Heritage Auctions (HA) - will be running a live domain auction this week, putting domain names on equal footing with traditional collectible asset classes like art, jewelry and coins. The big event, that HA has been promoting nationally in mainstream publications, happens Thursday evening (November 21, 2013) starting at 7pm U.S. Eastern time (6pm Central and 4pm Pacific) when auctions will start closing (online bidding has been open throughout this month).

The reserve prices (Excel file) for those names that have reserves has now been released. With domains like MutualFunds.com, Animation.com, NL.com, QR.com, Bicycle.com, DVDs.com, Sociology.com, CurrencyExchange.com and others having been submitted for the auction, Aron Meystedt, the Founder & Director of HA's new Domain Name & Intellectual Property Division and a veteran domain investor himself, is delighted with the response HA's entry into the domain aftermarket has received. 

"We are excited about the participation of domain name owners," Meystedt told us. "We tried to pick names that were either perfect

Aron Meystedt, Founder & Director,
Domain Name & Intellectual Property Division
Heritage Auctions (HA.com)
 

for investment or business use. Many of the names cross both criteria as well.  After this first auction, we anticipate the quality of submissions will continue to be great. A few people have pointed out that some of these names have been publicly for sale before. However, this time around the audience is different. I think that is the key. We are reaching out to an entirely different base of buyers."

"Additionally, we have a plan on how to “ramp up” domain sales – and this auction is a good first effort at determining which type of domains have the best response from buyers," Meystedt said. "We’re also testing out which PR and marketing efforts yield the best results. A successful first auction will help all of us – it will continue to pique the interest of our affluent client base, and it will only bring additional people, money and interest into our domain industry."

Auction image from Bigstock

Heritage Auctions knows that "Rome wasn't built in a day" so Meystedt said they are committed to a long term effort to build up the domain market. That has included sending an educational piece to HA's clientele of affluent investors and potential buyers. 

"That piece is the key," Meystedt noted. "Everyone knows what a domain name is, but I’d guess a majority of the recipients have no idea there is a thriving domain name aftermarket that exists.  We are educating these people on historical sales and the state of the domain industry.  I do understand that this effort may take time, and in the event that this first auction isn’t a smashing success, we plan to keep moving 

forward and continue to educate investors and high net worth individuals on the benefits of domain name ownership."

Meystedt added, "In addition to investors, we’re making sure the executives at major companies learn about our domain initiative. Heritage Auctions has a lot of key contacts with many corporations, and we’ll be leveraging our network to put the right names in front of decision makers." Domain owners have always felt the key to unlocking the full value of domains was to connect them with the right end users. If HA's auctions are successful, that door may be fully opened for the first time.

(Posted November 18, 2013)


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