Lender putting www.sex.com domain on auction block - GoFuckYourself.com

Crash2007 · 03-09-2010, 02:33 PM

Not sure if posted already, didn't see it.

NEW YORK (Reuters) - Sex.com, often touted as one of the most valuable Internet domain names, is due to head to the auction block next week.

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DOM Partners LLC, a New Jersey lender that backed a 2006 purchase of the domain name for a reported $14 million, is foreclosing on the Internet property, and is due to auction it on March 18 at New York law firm Windels Marx Lane & Mittendorf LLP, according to legal notices.

Bidding for the Internet property, the tumultuous past of which includes several lawsuits and two books, is due to start at $1 million.

The auctions of simple domain names are seen as rare opportunities for Internet entrepreneurs.

An auction for the pizza.com domain name in 2008 attracted bids above $2.5 million.

But if it is true that sex sells, sex.com may be the most valuable domain name in the world. At one point, the website was making at least $15,000 per day, according to a 2008 book, The Sex.com Chronicles, by attorney Charles Carreon who has represented a former owner of the site.

In January 2006, Escom LLC acquired the domain name from Gary Kremen, founder of dating website Match.com and chief executive of Grant Media. Kremen registered the sex.com domain name in 1994.

A press statement announcing the 2006 sale said it was "believed to be among the most significant domain sale transactions in history." Terms of that deal were not disclosed, but it has since been reported that the deal was worth about $14 million.

DOM Partners' loan to Escom for the deal has been in default for over a year.

"The loan was in default and DOM partners is foreclosing pursuant to its right under the security agreement," DOM's attorney Scott Matthews said.

Attempts to reach Escom and sex.com for comment were not immediately successful.

But Richard Maltz, an auctioneer at Maltz Auctions who is running the sale, said on Monday there was considerable interest in it.

"We don't know who's serious and who's not, but prospective bidders need a $1 million certified check. It should be interesting."

Maltz said his firm was arranging for potential buyers to also be able to bid online.

(Reporting by Emily Chasan)

ColetteX · 03-09-2010, 02:34 PM

need to sell my new tv

CunningStunt · 03-09-2010, 02:35 PM

Posted already. $15,000 per day earnings at its peak? I would have thought that was still easily attainable in this day and age. Half a million per year less costs...has to be worth $10 mill + now.

Phoenix · 03-09-2010, 04:57 PM

its got to be worth 1 million

in the right hands that domain would make money again

GT-Omar · 03-09-2010, 05:00 PM

Great domain, but It's cursed.

Supz · 03-09-2010, 05:22 PM

why wouldnt the owner who owed the money on it just sell it?

WebCashMaker · 03-09-2010, 05:30 PM

And the story continues !

TheDA · 03-10-2010, 10:53 AM

$1million down to make a bid

03-09-2010, 02:33 PM	#1
Crash2007 Registered User Join Date: Jun 2007 Posts: 88	Lender putting www.sex.com domain on auction block Not sure if posted already, didn't see it. NEW YORK (Reuters) - Sex.com, often touted as one of the most valuable Internet domain names, is due to head to the auction block next week. ADVERTISEMENT DOM Partners LLC, a New Jersey lender that backed a 2006 purchase of the domain name for a reported $14 million, is foreclosing on the Internet property, and is due to auction it on March 18 at New York law firm Windels Marx Lane & Mittendorf LLP, according to legal notices. Bidding for the Internet property, the tumultuous past of which includes several lawsuits and two books, is due to start at $1 million. The auctions of simple domain names are seen as rare opportunities for Internet entrepreneurs. An auction for the pizza.com domain name in 2008 attracted bids above $2.5 million. But if it is true that sex sells, sex.com may be the most valuable domain name in the world. At one point, the website was making at least $15,000 per day, according to a 2008 book, The Sex.com Chronicles, by attorney Charles Carreon who has represented a former owner of the site. In January 2006, Escom LLC acquired the domain name from Gary Kremen, founder of dating website Match.com and chief executive of Grant Media. Kremen registered the sex.com domain name in 1994. A press statement announcing the 2006 sale said it was "believed to be among the most significant domain sale transactions in history." Terms of that deal were not disclosed, but it has since been reported that the deal was worth about $14 million. DOM Partners' loan to Escom for the deal has been in default for over a year. "The loan was in default and DOM partners is foreclosing pursuant to its right under the security agreement," DOM's attorney Scott Matthews said. Attempts to reach Escom and sex.com for comment were not immediately successful. But Richard Maltz, an auctioneer at Maltz Auctions who is running the sale, said on Monday there was considerable interest in it. "We don't know who's serious and who's not, but prospective bidders need a $1 million certified check. It should be interesting." Maltz said his firm was arranging for potential buyers to also be able to bid online. (Reporting by Emily Chasan)

03-09-2010, 04:57 PM	#4
Phoenix BACON BACON BACON Industry Role: Join Date: Nov 2002 Location: Poems everybody, the laddie fancies himself a poet Posts: 35,457	its got to be worth 1 million in the right hands that domain would make money again __________________ Skype Phoenixskype1 Telegram PhoenixBrad https://quantads.io

03-09-2010, 05:00 PM	#5
GT-Omar DM at Performive.com Industry Role: Join Date: Aug 2006 Location: Atlanta, G.A. Posts: 2,968	Great domain, but It's cursed. __________________ Email me Skype me

03-09-2010, 05:30 PM	#7
WebCashMaker Confirmed User Join Date: Feb 2008 Posts: 1,726	And the story continues ! __________________

03-09-2010, 02:34 PM	#2
ColetteX So Fucking Banned Join Date: Jun 2004 Posts: 539	need to sell my new tv

03-09-2010, 02:35 PM	#3
CunningStunt Confirmed User Industry Role: Join Date: Aug 2006 Posts: 5,594	Posted already. $15,000 per day earnings at its peak? I would have thought that was still easily attainable in this day and age. Half a million per year less costs...has to be worth $10 mill + now.

03-09-2010, 05:22 PM	#6
Supz Arthur Flegenheimer Industry Role: Join Date: Jul 2006 Location: New York City Posts: 11,056	why wouldnt the owner who owed the money on it just sell it?

03-10-2010, 10:53 AM	#8
TheDA Confirmed User Industry Role: Join Date: May 2006 Posts: 4,665	$1million down to make a bid