Hilco Streambank is launching an auction platform on HilcoDomains.com that will be used exclusively for the domain name assets the company represents. The company will focus on holding high value premium domain auctions, and it plans to hold them on a regular basis. I am told the company does not expect to have non-premium domain names on auction unless they are directly related to the premium domain names.
Although Hilco Streambank’s domain auction group is primarily known for auctioning domain names that are involved in bankruptcy proceedings, the company is expanding its reach. Going forward, auctions on HilcoDomains.com may not involve distressed domain name assets. As such, the bidding rules for each auction may be different depending on the needs and requirements of the individual sellers.
The first domain names that will be up for auction on HilcoDomains.com include LOA.com, Essentials.com and Essential.com. These auctions will open for bids at the end of the month. Here’s how to participate in these auction and some bidding rules:
- One-step registration for HilcoDomains.com.
- $500 Deposit to qualify to bid in these auctions.
- Bidding will open on July 31st and close on August 7th.
- LOA.com will open at $15,000 with a reserve, Essentials.com and essential.com will each open at $25,000 with NO reserve.
- After winning an auction the winner will have 3 days to pay the full purchase price.
According to Jack Hazan, EVP at Hilco Streambank, “This is a natural progression for our brand as we continue to come to market with exclusive offerings of valuable and iconic intellectual property assets. The HilcoDomains.com site will be a platform that is easy to navigate and will enable bidders to participate in our exciting domain auctions on a more regular basis.”
In the last year or so, the company sold some exceptional domain names in addition to packages of assets that included domain names (like Borders.com and a sale of Circuit City assets). Hilco Streambank’s public domain name sales include DL.com for $210,689, Dots.com for $335,000, 800.com for $250,000, and Bargain.com for $150,000.
That seems like a good business move, instead of them paying other services to host the auctions for them. Plus, they then have full ownership of all the bidder info for marketing purposes.