I read a rather strange press release tonight from a company called Fiesta Motors. It doesn’t start out too strange, actually the move they made makes a lot of sense – let me break it down. A car dealership called “Fiesta Motors” was stuck with GoFiestaMotors.com – it was in fact owned by another car dealership in another city in Texas. Well, luckily for the Fiesta Motors in Lubbock, their competitor went out of business and they jumped in to buy the domain.
Sounds pretty simple right? There is a huge benefit to Fiesta Motors if they can own their exact match .COM so of course it makes a lot of sense to buy it. In the press release they talk about how valuable the domain is to their business:
“When the other Fiesta Motors was sold in September, we jumped at the chance to purchase the domain name—it was worth it to us to pay $2,500,” said Brad Kalivoda, co-owner of the Lubbock dealership. “For 16 we have considered ourselves to be the premiere buy-here pay-here dealership for the Lubbock area. I always cringed at the thought of someone looking for and not finding us—therefore not getting the first class treatment that they get here—all because they didn’t know our website address.” (Source – PRNewswire)
So far so good, I think we’d all agree, great buy and good move Fiesta Motors. In my mind I also think – what a powerful domain name for their business for only $2,500. Heck even weird names like QNet.org are selling for $27,250 so in my mind they got a GREAT deal on FiestaMotors.com. This is where the press release really threw me for a loop:
“It’s important to note that Fiesta Motors’ owners paid this high fee for a domain name, not a website.” (Source – PRNewswire)
Wait what? The press release even goes on to say that domains like Whiskey.com sold for $3.1M and Super.com for $1.2M, so how did they decide that $2,500 was a high fee to pay for a domain name? I’m confused, are you?