$2.5M bid on Culture.com turned out to be accidental

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!

{ 8 comments… add one }

  • John May 30, 2019, 11:15 am

    translation: us naysayers turned out to be right

    Reply
  • Mark Thorpe May 30, 2019, 12:01 pm

    Had a feeling the bid was not real.

    Reply
  • Snoopy May 30, 2019, 5:39 pm

    “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.”

    Keep digging that hole! More likely they were typing $25 or they were just playing around.

    Reply
  • tim May 30, 2019, 6:19 pm

    All of it is Fake News

    Reply
  • Matt Holmes May 30, 2019, 9:13 pm

    Yeaaa they had a fake domain i bought and paid for, cybernet.com, for a great deal. Turns out the Seller ‘accidentally’ put it up there, too. Not surprised Sedo is having more inaccuracies, starting to feel like browsing there is a waste of time as both a buyer and seller now.

    Reply
  • CrankyOldMan May 31, 2019, 9:37 am

    Or . . . the “accident” was a “friendly accident”, one that ignited some buzz and drew attention to the domain and possibly nudged an interested buyer or two to inch close to making a deal . . .

    Just wild speculation . . about an accidental $2,500,000.00 bid . . “Umm, yeah. I held my finger down a bit longer than I realized . . and that added a LOT of 0’s . . and then I failed to notice all those 0’s when I went on to hit enter . . and again when I confirmed my bid . . and, of course, I didn’t immediately $hit myself and IMMEDIATELY pick up the phone to call Sedo and have Sedo undo the mistake . . ”

    AFAIC, something is broken @ Sedo if their system allows ANYONE to enter a $2,500,000.00 auction bid without first clearing a series of hurdles. YMMV.

    Reply
  • CrankyOldMan May 31, 2019, 9:37 am

    Or . . . the “accident” was a “friendly accident”, one that ignited some buzz and drew attention to the domain and possibly nudged an interested buyer or two to inch close to making a deal . . .

    Just wild speculation . . about an accidental $2,500,000.00 bid . . “Umm, yeah. I held my finger down a bit longer than I realized . . and that added a LOT of 0’s . . and then I failed to notice all those 0’s when I went on to hit enter . . and again when I confirmed my bid . . and, of course, I didn’t immediately $hit myself and IMMEDIATELY pick up the phone to call Sedo and have Sedo undo the mistake . . ”

    AFAIC, something is broken @ Sedo if their system allows ANYONE to enter a $2,500,000.00 auction bid without first clearing a series of hurdles. YMMV.

    Reply
  • CrankyOldMan May 31, 2019, 9:39 am

    Hey, look, my finger accidently hit enter twice. Oh, wait. No, I didn’t see that . . noooo

    Reply
Cancel reply

Leave a Comment