While looking through a list of domain names coming up for auction at GoDaddy Auctions this morning, I came across ElevenJames.com. The name rang a bell to me and a quick Google search revealed why. Eleven James was once a popular subscription watch service that offered members the chance to use high end timepieces from high end watchmakers including Rolex, Patek, AP, Breitling, and others.
According to an article on Bloomberg, the business apparently shut down due to an inability to get more funding. Here’s an excerpt from the Bloomberg article detailing the issue faced by the company:
“According to Robi Cai, the company’s former head of corporate strategy and development from September 2016 through June 2018, earlier this year Eleven James tried to raise additional funds to allow them to continue operating. When the company was unable to raise said funds, the company’s main lender pulled its existing line of credit, causing the company’s management and board to begin winding down operations around the middle of June 2018.”
When the business was operational, it used the ElevenJames.com domain name, but the domain name expired recently. In fact, the Bloomberg article and other articles about the company link to that domain name, likely giving it added some SEO value. I presume this is a major reason for why people are going to bid on the domain name.
I am not sure what trademark issues may exist for a potential buyer. I would imagine there is some brand value and whatever entity or person owns the rights to that would want to have this domain name that matches the brand name. I presume there is legal risk in owning a domain name like this, but I am not a lawyer nor do I have any legal expertise.
At the time of publication, there have been 32 bids from 13 bidders, and the high bid is $330. The auction for this domain name ends in a little more than three hours from now.
