Sedo Domain Name Site starts Auction
Published October 18th, 2006
Sedo.com LLC plans to introduce this week an auction service for domain name sales, a company executive said Monday.
Jeremiah Johnston, COO and general counsel for the online marketplace for buyers and sellers for domain names and Web sites, said the new seven-day auction platform will augment a traditional model, where domain names are posted on the site for sale and price negotiated.
The eBay-like model aims to satisfy requests by businesses, as well as professional investors who purchase high-ticket domain names each year.
“Domain names will be put up for sale using the traditional model,” Johnston said. “Someone who has a domain name receiving multiple offers from multiple parties can push the sale to our new auction model.”
Sedo boasts six million domains for sale on the site, and more than 500,000 users worldwide, who collectively spent more than $25 million to purchase domains through the marketplace in the past year.
