Malibu.com was up for auction last week with a minimum opening bid of $250,000. At the conclusion of yesterday’s auction, the domain name had a high bid of $518,000, as reported by Joshua Schoen on Twitter:
— Joshua Schoen (@jstenn13) December 5, 2018
The auction was managed and promoted by Millitzer Capital, so I reached out to Tom Millitzer to learn if the domain name was sold at auction. According to Mr. Millitzer, the owner of the domain name had the ability to accept or reject the high bid in the auction, and the owner decided to not accept the $518,000 bid.
Here is a comment I received from Mr. Millitzer about the Malibu.com domain name auction:
“Both the owner of Malibu.com and Millitzer Capital believed the value is in excess of $500k and may exceed $1 million. To be direct the bidding did not meet the owner’s goal. In essence, the auction proved us right and now the floor price is $500,000. Millitzer Capital is working on Plan B, a direct approach marketing toward the international hospitality industry, our first targets include Dubai, Hong Kong and Rio.”
Should I hear anything further about the sale of Malibu.com, I will share an update. For now, it looks like the domain name is still for sale.