In June of 2009, it was reported that Jerusalem.com was purchased for $750,000 (the news was also reported in the Jerusalem Post). The website was used on its own for a while, and I later found it to be forwarding to GoJerusalem.com, which I thought was strange after such a big acquisition.
Just a couple of weeks ago, I noticed that Ryan Colby, one of Sedo’s top domain brokers, announced that Jerusalem.com was privately being offered for sale via his page on Facebook. I inquired about the asking price and learned that it was in the ballpark of half a million US dollars. I was very surprised at this and felt it was a good enough value to pass the information along to a couple of domain investors I know.
Earlier this evening, Ryan updated his Facebook and Twitter pages to announce that the sale of Jerusalem.com had closed at $510,000: “Jerusalem.com: SOLD for $510,000. A glorious geo name in every way.”
Since this is breaking news, I don’t have information on the buyer of this great domain name yet, but I am sure Sedo will soon make a more formal announcement with that information.
Congratulations to Sedo and the buyer of this great geographic domain name.
That’s a great geo. Hard to develop form the states though. I hope Lonnie bought it or someone that is locally situated in Jerusalem.
It wasn’t Lonnie, and I agree that it would be good for someone local to develop.
That was cheap. In fact it actually rings bad for geo owners imo. I mean its freakin jerusalem, whats no where united states city worth now.
I don’t think it’s good news, but I do think it shows there’s liquidity in the space. The name was on the market for a short period of time and sold for half a million. During the “great old days” Melbourne.com sold for $700k, and judging by the GoodNews.com banner on the site, it looks like Kevin Ham’s company bought it. http://www.dnjournal.com/archive/domainsales/2007/domainsales12-12-07.htm
This is a political name too, I would have pitted rich Jews /Israelis vs rich Arabs 🙂
I’ll agree the name is a great geo but if the acquisition price was $750K and a year later the name was sold for $510K, what is the lesson to be learned here? Geo .COM is the only way to go because if you build on another TLD, you just send traffic to the .COM? Or if you buy the .COM, a year later you can liquidate it at a $240K loss! FYI I have the Spanish equivalent in another extension.
Great Domain Name.
Thank you for the update Elliot !
I wonder whether the buyer would pay that kind of money in a years time? Just be .jerusalem.
I posted an example which wasn’t answered on thedomains.com blog. I think its still relevant, though I do hope I’m wrong.
If I had the choice of buying slots.com for 5.5 mill or having .slots for 1-2mill -I’m not sure .com is much better. You could use the rest of the money to brand & market your .slots. If you are smart you would save the best for your company and some of the other top names auction or give to suppliers who will help build your brand, so slots will be associated with you.
Verisign promotes .com and every person who buys a .com is in essence a contributor/promoter to the building of .com brand. Same as anybody who uses google for searches is in essence making it what it is and promoting it by default.
So when you have a .anything the people who will be using it will be promoting the specific company and brand behind it. If until now the registries and registrars had an exclusivity as far as domains now any major company can have a hand in it too and use it to sell domains, but most importantly to strengthen their brand/product/name. New companies will be invading the domain space, which actually will make domains more main stream but take away a lot of the limited supply that exists today.
So at the end of the day, will someone in a years time spend 5.5 for slots.com ??
I don’t think so but I hope I’m wrong.
In addition, even if many .anything fail , it will be common to have jo.slots and mike.cake, so within time the .com potential buyers will realize that the options are endless , so why bother spending big bucks on .coms…
This will happen as more big corporations spend money and get others to use their .canon or whatever.
Again , I hope I am wrong!
Verisign wants .com to continue. Every sale of a.com strengthens their brand.
Every company wants to strengthen their brand(and obviously make more money). Now companies can do that with domains too and the registrars/registries lose their exclusivity..
Great ‘Geo Domain’…
I hope the owner ‘God’ ends up on the “public whois”
…maybe with the plethora of available extensions here and at prices that are reasonable, .com is finally coming down to earth and realizing that it’s not only overpriced but overrated for the 21st century as the younger set don’t really care what’s to the right of the dot as to what’s at the left of it.
Time takes its toll on everything and .com is probably no exception to that rule.
The loss of almost a quarter million dollars in a short period of time should be ample proof as well as a wake up call. the “.anything” extensions are not that far away anymore, are they?
Congrats on the sale at any rate, and I also hope that it will be a local who makes the site worthy of it’s name…
Did they take a whole hit of 250K..or did they make some money with the domain/site in the year they had it?
Just wondering out loud in public….
I would have expected over 1 Million…for such a great name, and such a Historic locale.
They took a $250,000+- loss ?
Thats a Great Geo Domain, Congrats to the buyer and Sedo!
I hope that the name is used to promote tourism to Jerusalem. Jerusalem is a great city and filled with history, culture, and a great place for a family vacation. The new owner has a great responsibility 🙂
Joanna blogs at http://www.FunInJerusalem.com and writes about family tourism in Jerusalem.