Several weeks ago, Hilco Streambank emailed me to notify my that several domain names were coming up for sale in a bankruptcy auction. One of the domain names in the list stood out to me – AllOut.com. When I played sports as a kid – and even when I play tennis today, I tend to go all out. I like the business and marketing connotations of “all out,” and I have been buying similar types of domain names when I can (SparkPlug.com is another one I recently acquired).
Shortly after receiving and seeing the notifications about the auction, I was in touch with representatives from Hilco Streambank to understand the bankruptcy auction process and learn how I could participate. I started by submitting a bid, and that qualified me to participate in the auction. The domain name was sold in a package with AllOut.net, so my bid would be for both AllOut.com and AllOut.net.
As the auction approached, I had the option to submit a proxy bid or participate on a Zoom call. Even though we were on vacation, I decided to participate on the call in person. When I jumped on the call, the auction rules were explained to the participants by the auctioneer from Hilco. As I recall, there were fewer than 10 participants on the call and I believe there may have been other bids submitted prior to the auction.
The format of the auction was that each lot was auctioned individually. Participants could call out bids, and the auctioneer would announce when there were 30 seconds remaining. Additional bids added time to the clock. The auctions lasted until the time ran out. I prevailed in the auction for AllOut.com and AllOut.net, with the total purchase price being $12k. FWIW, since I won two domain names in one lot, I do not expect NameBio to record the price since the individual acquisition costs are indeterminate.
Following the individual auction lots, there was an opportunity for someone to bid on all of the domain names as one lot. I jumped off the call after I won my auction, so I do not know if anyone bid on all of the lots as one auction. Shortly after the conclusion of the call, I was informed that my bid prevailed, and I sent my wire transfer to Hilco the next day.
A day or two after the auctions, the bankruptcy trustee filed a sale motion regarding the auction sales. There was a 21 day objection period after this filing, and nobody seems to have objected. A few days later, the sale order was filed, and I received the transfer authorization codes today. The domain names are now pending transfer to my account at GoDaddy.
All in all, the bankruptcy auction process was pretty easy. I don’t love sending money and having to wait 3+ weeks to get my domain names, but that is the nature of this type of auction. Hilco Streambank communicated with me throughout the entire process, and I thought that aspect was well done. I think the price I paid to acquire the domain names was reasonable. While I don’t plan on going “all out” to sell these domain names, I think they will eventually sell for quite a bit more than I paid.