Moniker/Snapnames was scheduled to hold an auction for i.CO from Februrary 3-10, and I expected the sale to be significant, especially with a reported minimum bid of $100,000. I still expect i.CO to sell for a lot of money, but it looks like that is not going to happen in the very near future.
According to Lori Anne Wardi’s post on the .CO Registry blog, the i.CO auction has been canceled. Apparently, the demand has been significant, with “well over a hundred businesses expressing different level of interest in the domain name.” As a result, the .CO Registry has decided to scrap the auction format and work with Moniker/Snapnames to find a buyer for this domain name.
I think this was probably a very good strategic move. If the .CO Registry and Moniker/Snapnames think they can hammer out a better deal in private – or without the confines of an auction, then that’s what they need to do.
As a domain investor, I am a bit disappointment. I had hoped to really see what the market would yield for this domain name, as I believe it would be a good indicator of the strength of .CO investments, especially if a large company purchased it.
The wait for another .CO auction to gauge the health of the premium domain name aftermarket won’t be too long, as Sedo’s auction will take place February 10-17.