Hips.com was sold for $25,000 via Sedo’s Great Domains auction this afternoon. There were 8 bidders who participated in this reserve auction, and bidder #7 was the winning bidder.
I was actively following this auction, but I did not end up bidding. I was prepared to bid on the domain name, but I decided to sit on the sidelines once it passed a number I was willing to risk on this investment.
I think there are quite a few uses for the domain name. There is the brandability of a company/business called “Hips,” as well as the replacement hip market and hip doctors. There are also quite a few companies and organizations that use the HIPS acronym, as evidenced by the ownership of Hips.org and Hips.net. I am sure you can think of other ways Hips.com could be used.
On one hand, I think the buyer got a very good deal on Hips.com as short, meaningful domain names like this have been selling for more and more. I also feel like the seller got a fair deal for the domain name, too, because it’s tough to say whether it would sell for more money.
The value of Hips.com was difficult for me to peg, and that made it tough to justify paying more than the $25,000 high bid. I have been watching the auction for a couple of days, and I was waiting to bid at the last minute when the high bid surpassed what I would have paid. As discussed in an article this morning, even if I had been willing to participate in the auction and bid higher, there is no telling whether or not I would have been able to outbid the winning bidder.
I am curious if you think the buyer got a great deal on this name at $25,000 or if the seller made out better. Of course, it could also be a deal that was great for both parties.
One thing to keep in mind is that because the auction ended today, it is unlikely that the deal has closed yet. I don’t have any reason to believe the deal won’t go through, but I know that some people complain when they see reports about auctions that haven’t closed yet, so keep that in mind.