Support Services:service@dn.com
2024 Dn.com All Rights Reserved
The recent lawsuit settlement should serve as a warning to domain auction bidders: do not bid on something you cannot afford.In February 2021, Right of the Dot hosted what appeared to be a highly successful domain auction.
The recent lawsuit settlement should serve as a warning to domain auction bidders: do not bid on something you cannot afford.
In February 2021, Right of the Dot hosted what appeared to be a highly successful domain auction. A single bidder offered $4.85 million: Bird.com at $2.5 million, Fish.com at $1.6 million, and Tattoo.com at $750,000.
That bidder was David Lizmi, who ultimately did not pay for the domain names.
Overall, this was a stain on Right of the Dot and the domain auction industry, especially considering it wasn't the first high-profile auction failure.
As a result, Right of the Dot (along with the sellers of bird.com and fish.com, Bolton Properties) decided to sue Lizmi. Lizmi counter-sued, and the two parties reached a settlement earlier this year. The settlement came after the 2021 auction failures of Fish.com and Bird.com.
According to court documents, the parties eventually ruled that Lizmi would pay $842,418.75, with an interest rate of 6.58% on the unpaid amount.
We do not have details of the confidential settlement, so it's unclear whether this was a direct cash settlement that Lizmi had to pay in full. Nevertheless, it was a significant settlement. It should serve as a warning to those bidding in auctions that they cannot afford.
Many people have stated that they would never consider participating in auctions they couldn't afford. However, I believe it's more common than you might imagine, especially for high-value domains. For instance, people might find it tempting to bid $900,000 for a domain with a $1 million reserve. But what if the reserve drops?
If you're going to participate in auctions with others, make sure they are bidding with cash.
Right of the Dot and the domain sellers had a somewhat fortunate outcome. Tattoo.com was not included in the lawsuit as the auctioneer had already sold it to someone else. Bird.com was eventually sold to MessageBird.
26 Dec 2024 03:02:17 PMIndustry Information
In December 2024, the transaction prices of multiple .AI domain names exceeded hundreds of thousands of dollars. Among them, please.ai became the second most traded .AI domain name this year with a transaction price of 200,000 US dollars.
26 Dec 2024 02:12:43 PMIndustry Information
In a recent UDRP (Uniform Domain Name Dispute Resolution Policy) ruling, Instagram LLC’s dispute over the Glassagram.org domain name has attracted widespread attention.
25 Dec 2024 04:36:29 PMIndustry Information
The Girlfriend.ai domain was successfully resold for $274,610. Compared to its previous purchase price of $170,000, the appreciation rate is as high as 61.8%. This amazing increase highlights the huge investment potential of .ai domains.
25 Dec 2024 11:30:40 AMIndustry Information
Recently, @Domainretail announced on the X platform that the top-level domain name Grok.com was officially redirected to X.ai, which attracted widespread attention in the industry.
In the digital age, the value of virtual assets is becoming increasingly prominent. Domain names, as "virtual real estate" in the Internet world, are attracting more and more investors' attention.
Industry Information 24 Dec 2024 04:57:54 PM
The Arab Centre for Domain Name Dispute Resolution (ACDR) recently announced that it would cease operations, becoming the third ICANN-accredited UDRP dispute resolution center to cease operations.
Industry Information 23 Dec 2024 04:32:57 PM
Recently, the extremely rare single-letter .app domain name M.app was successfully sold for more than $200,000. This high-priced transaction highlights the huge brand value of the domain name itself.
Industry Information 23 Dec 2024 03:09:33 PM
Recently, Park.io partner Steve Webb announced on social media that the domain name please.ai was successfully sold on the Park.io platform for $200,000.
Industry Information 23 Dec 2024 11:58:45 AM
XPayments is a product launched by Musk's X platform, and this name, which was once well-known in the payment-related business field, has now been officially renamed XMoney.
Industry Information 20 Dec 2024 03:47:12 PM
HKBTC.com successfully completed the transaction through DN.com. This domain name is very unique, split into "HK" (Hong Kong) and "BTC" (Bitcoin), which clearly shows its close connection with Hong Kong and Bitcoin.
Industry Information 20 Dec 2024 01:37:14 PM