FinancialAid.com - SOLD for $800,000
Domain Auctions, Moniker, TRAFFIC September 25th, 2008
FinancialAid.com just sold at the Moniker TRAFFIC auction for $800,000. The auction is showing strength in my opinion, although some great names have passed at over $1mm - including a pair that sold for $3,000,000 at the last auction in New York.
It’s interesting to note (as someone pointed out to me), FinancialAid.com appears to be owned by major lending company, CIT. According to the CIT website, “CIT helps middle market businesses seize once-in-a-lifetime opportunities through business loans and financing products.”
Also included in the sale is FinancialAide.com.
September 25th, 2008 at 5:11 pm
The financial aid industry is in really bad shape. Congress recently passed a law that severely restricted (highly profitable) private student loans, and I know for a fact some fo these companies are struggling.
September 25th, 2008 at 5:35 pm
Solid research, Elliot - this is a particularly interesting sale given the situation in the lending market. Just as Berkshire recognizes equity opportunities in this downturn, it appears there are some smart domain investors who will build out premium financial generics.
September 25th, 2008 at 5:58 pm
I just can’t believe that totallyconnected.info didn’t hit the $1mm reserve…. that had to be a bet monte lost to put that in there.
September 25th, 2008 at 6:59 pm
Girdon, why are student loan companies suffering ???
September 25th, 2008 at 7:39 pm
Elliot,
What’s interesting to me is that she sale of FinancialAid.com is impressive, it pales in comparison to some of the bids being made in Moniker’s extended online auction:
guaranteed.com, 5 bids, $882,400.00
touchscreen.com, 4 bids, $1,411,800.00
charityauction.com, 3 bids, $5,882,400.00
What’s your take on the legitimacy of these bids? I’m thinking a number of these online bidders are having a little fun or something. That said, I do hope the bids being made on two of our domains are from legitimate buyers. Time will tell, of course.
September 25th, 2008 at 10:21 pm
FinancialAid.com sold several years ago for $600,000 to three hustlers that tried to put a business together…. I guess it did not work out.
September 26th, 2008 at 8:12 am
This is not worth it, I dont believe bid — guaranteed.com, 5 bids, $882,400.00
Expensive but maybe - touchscreen.com, 4 bids, $1,411,800.00
No way this is real — charityauction.com, 3 bids, $5,882,400.00
Seems to me the system is flawed
–Where is the list of other stuff that sold?
Thanks
-MM
September 26th, 2008 at 12:29 pm
Mike,
I hear you - it does seem like those bids in the online extended aution are out of line with what transpired in all the live auctions.
Like many of us, I have participated in Snapnames auctions where the winning bidder has reneged on payment. Those bidders, as far as I know, never suffer any consequences. In fact, I read a thread on Namepros where one domainer was tracking the non-payer in other SN auctions, and he subsequently bid again, and subsequently did not pay again. And did not suffer any consequences (that anyone knew about). You’d think they’d cancel his account immediately and block any attempt to re-register.
That is my concern with the extended online auction. All one needs to be eligible to bid in those auctions (operated by Monker) is a Snapnames account, and have a credit card on file. That doesn’t mean the bidder’s credit card has a credit limit of $800,000 (or more) (whose does?) - but they can sure put in the bids if they want to.
I believe that come next Thursday if the majority of the extended online auctions have huge bid amounts like those listed above, we will see 50-75% of those domains “sold,” but the seller will never see any money.
And for that, Monte and the boys will have some ’splaining to do.
To install the online auction software and access the live bidding, go here and click “Join the extended online auction:
http://marketplacepro.moniker.com/auction/index.html
Bob
September 26th, 2008 at 5:37 pm
I bought/founded financialaid.com in 2000, sold the entire financialaid.com business in 2005 and the market blew up in 2007. CIT closed the business earlier this year… google it
September 26th, 2008 at 6:29 pm
Nice move, Mike. Looks like you got out when the getting was good.
September 27th, 2008 at 3:53 am
FinancialAid.com $800,000 good work Monte - I thought the auction was a good result. The move to generics will grow as the financial sector struggles. The demand for generics as an advertising medium will soar as business see the potential and power of generic directory domain names.
September 27th, 2008 at 6:44 am
mike o’brien, whats your take on the current price of financialaid.com domain name and its future value potential ?
September 30th, 2008 at 12:22 pm
Guys, these prices on on the domains at SnapNames aren’t the actual bids. They are the reserves. It shows bids because people bid for the domains prior to the auction actually starting, so their bids were accepted but are below the reserve.