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July 17, 2018

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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.

Ice.com Changes Hands for $3.5 Million in 2018's Biggest Publicly Reported Domain Sale to Date

Veteran domain brokers Brian Harbin from GritBrokerage.com and David Clements from Brannans.com have teamed up to close the biggest publicly reported domain sale thus far in 2018 - Ice.com at a cool $3.5 million. That is almost triple the amount paid for the previous YTD leader, Super.com, a name that sold for $1.2 million in March. 

Harbin represented the seller and Clements the buyer in a deal that was handled by Escrow.com and confirmed by Escrow.com General Manager Jackson Elsegood. While agreeing to allow the purchase

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price to be revealed the buyer, who reportedly has a plan in place to develop the domain, has chosen to remain anonymous for now.  

On Monday morning Harbin, Clements and Elsegood all agreed to participate in a private conference call to answer questions about the sale with the proviso that the information shared would be under embargo until 9am this morning.  

(Left to right) Brian Harbin (Grit Brokerage), David Clements (Brannans.com) and 
Jackson Elsegood (Escrow.com) were all involved in closing the $3.5 million sale of Ice.com.

Harbin told me he first met the buyer when that person bought a domain Harbin had listed for $2,500. After buying a few other domains through Harbin's Grit Brokerage in the same price range, this person wound up calling on Harbin to sell a domain for him but this one was a blockbuster - Ice.com. Harbin had done some previous deals with Clements and contacted him about this  exciting new listing. Clements happened to have an acquaintance he had met at a private event in his hometown, Atlanta, that he thought might have an interest in the domain. When Clements presented the opportunity to obtain the domain the buyer jumped on it, agreeing to the full $3.5 million asking price. Working with Escrow.com it then took them barely a week to complete the transaction which happened on July 6. 

Ice.com had previously been developed as an ecommerce platform to sell jewelry products but it became apparent to the owner that the name itself was worth more than the business. While the new owner has development plans of his own he is not ready to reveal what the domain will be used for. Whatever that may be, Clements believes the buyer now has the strongest possible foundation to build on. "For less than the cost of a single, 30-second Super Bowl ad we were able to acquire a powerful, single-word domain name with significant long-term value for our client. Major enterprises are recognizing the value and competitive advantages these premium domains deliver.

With respect to the seller Harbin said,  Im enthusiastic that my client was able to fully monetize the digital asset theyd developed over 19 years realizing significant gains over the previous sale price. Im grateful and humbled to be part of a deal that was a win-win-win for everyone involved. And Im honored to be a small part of the initiative to advance the domain industry by educating consumers on the value of digital assets.

(Posted July 17, 2018)

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