In a deal announced via his Twitter feed, Rick Schwartz shared that he sold the Property.com domain name:
I’m happy to report after months of negotiations, https://t.co/optj5Scboq has been SOLD!!
Like the Candy(.)com deal I DO retain 10% interest in the new company and hold the paper. Congrats to all involved! Site will be online sometime in 2018. #Domains #RealEstate #Startups pic.twitter.com/DtA7R4sVoR
— Rick Schwartz 👑 (@DomainKing) December 20, 2017
Although Rick did not announce the value of the deal, he did reveal that he will retain a 10% interest in the new company. Rick mentioned that he will “hold the paper,” and I believe that means the deal is being financed by him. My read is that the buyer will be making payments directly to Rick rather than to a third party. This can be a good way to retain control of the domain name in the event the deal doesn’t work out. It appears that this deal does not involve Properties.com, another domain name owned by Rick.
Rick mentioned the Candy.com deal in his tweet. As some people may recall, Rick owned Candy.com before reaching a deal with a company called Melville Candy Company. Rick sold the domain name for $3,000,000 plus royalties and a 10% ownership stake.
When it comes to domain name dealmaking, Rick is still one of the best.
I look forward to seeing who is behind the Property.com acquisition. Hopefully it is a win/win deal for Rick and the buyer.