The domain name sex.com was offered for sale by its current owner Escow LLC in July 2010. The reason for the sale was the bankruptcy that the current owner was facing. The domaine name was put up for sale via Sedo, a domain name auction website and the biddings begun immediately. Finally there were 12 bidders left and now an offer of 13 million USD has been made to buy this name.
This final bid was made by Clover Holdings, a company situated in the island of Saint Vincent. ‘Our debtor has negotiated hard and in good faith to get to this bidding,’ says Jeffrey Dullberg, the lawyer of Escom LLC. ‘The agreement reflects given-and-take and compromises by both sides,’ adds the lawyer.
Escom LLC bought the domain name sex.com from the previous owner in 2006 for an amount between 12 and 14 million dollar. Now they’ll soon receive 13 million dollar for this domain. ‘Due to the bankruptcy Escow LLC is facing, it’s important that the domain name can be sold as soon as possible. Therefore we’ll ask the bankruptcy court in California to recognize Clover Holdings as the winning bidder and to proceed to the sale,” say the lawyers of Escow LLC. The lawyers have asked for a hearing on October 27th 2010.
According to Sedo, the auction site which helped selling this domain, the new owner is about to buy the goose with the golden eggs. ‘This is a unique opportunity to become market leader’.
Of course 13 million dollar is a hugh amount but if you take into account that the first owners of sex.com earned 500.000 USD per month from the ads on the site, Clover Holdings will soon have re-earned this 13 million.
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This post was written by lieve on October 21, 2010