Last week I wrote an article about the auction for a great one-word .COM domain – Culture.com which received a $2.5M bid on Sedo. I think Culture.com could sell for seven figures so this seemed like a great sale in the making.
After I wrote my article, one of my readers followed-up with Sedo on Twitter to see what was happening with the auction, here’s the thread:
So it looks like my excitement around the auction was still good, but unfortunately too good to be true. As for how a buyer could make a $2.5M bid by mistake, that I’m not too sure of…it seems like something I would have to do intentionally since that’s a lot of money.
That being said, I could see the buyer intending to put in a $250,000 bid and accidentally adding on another zero so I’m thinking that might be what happened here.
Either way, I think it’s great that Sedo was open and transparent about what happened. It would have been just as easy for them to sweep this one under the rug but instead they came out publicly and shared the bad news.
The silver lining here is that the $2.5M bid did get a lot of good buzz around Culture.com so while the owner isn’t going to be getting a couple million dollars this week, they likely are getting more eyeballs on the domain than ever before.
I’ll be watching this one as I think it’s a great domain and will be very interested to see what price it ends up going for once it does sell. Thanks to Sedo for jumping in on Twitter and being so open and honest about what happened here, it’s not always easy to do but it is the right thing to do!