Be the next Buy.com? Internet Startup BigBangNames.com Auctions Off $1 Million Site for $1,000
BigBangNames.com,
an Internet startup is auctioning of a $1 million e-commerce site for
only $1,000 with no reserve: Payhalf.com. The auction is set to end on
July 22 at 12:00 p.m. on the BigBangNames.com Web site.
Miami Beach, FL (PRWEB)
July 17, 2008 -- BigBangNames.com is auctioning off a $1 million
e-commerce site for only $1,000 with no reserve: Payhalf.com. The
auction ends on July 22, 2008 at 12:00 p.m. and is hosted on the
BigBangNames.com Web site.
Payhalf.com for sale
Payhalf.com is an online consumer electronics retailer that invested
over $2.5 million before it ran out of cash. The sale includes the high
value domain name portfolio, appraised as high as $500,000, and
Payhalf.com, technology and key-supplier of information.
Payhalf.com is an online consumer electronics retailer that invested
over $2.5 million before it ran out of cash. The sale includes the high
value domain name portfolio, appraised as high as $500,000, and
Payhalf.com, technology and key-supplier of information.
"We bought all the matching domains in the UK, China, Brazil. Our
plans were to grow the brand worldwide," says James Cook, former CEO of
Payhalf.com. "Last month, Moniker.com a leading domain name auction
site, listed 'Pay.com' at auction for $2.2 million."
"I started a social shopping network called Kawink.com. We needed
cash to fund it. We wasted a lot of time listing our business so we
decided to jump on board with BigBangNames.com," continues Cook.
"Where traditional business listings take time and may not yield any
results, the BigBangNames.com auction format guarantees a sale. We list
all assets at $1,000 with no reserve and we let the marketplace decide
the true value!" says Michael Newman, VP of Marketing for
BigBangNames.com.
"Entrepreneurs and private sellers get cash fast, and domain name
investors get access to good inventory at a great price. Every
entrepreneur has a few good domains, shelved concepts or technology
pieces in its closet," says Mr. Newman.
With the economy tightening up, more and more people are trying to
cash out of their assets. For entrepreneurs trying to raise cash
without giving away equity, BigBangNames.com offers a unique solution
to getting those assets liquid.
"We are the domain name liquidators! We want to be know as the best
place to sell your .com names, fast. It's a win-win. Entrepreneurs and
private sellers get cash fast, and domain name investors get access to
good inventory at a great price," says Michael Mesure, CEO of
BigBangNames.com.
After generating over $1.5 million liquidating products on
Liquidation.com, Mr. Mesure came up with the idea to duplicate the
no-reserve auction format for domain names. Liquidation.com processed
over one million transactions online, charging $200 per auction and up
to 20 percent in listing fees.
"Selling your domain can take a while. First you have to get an
appraisal, which for the same domain, can vary from $1,000 to $100,000
depending on whom appraises it. Then you can list the domain on various
marketplaces and wait for a buyer to pull the trigger. When you need to
cash out, you can waste a lot of valuable time. The auction format
forces the buyers to make a decision," says Mr. Mesure.
BigBangNames.com gathers domain name investors, business brokers,
technology buyers, business owners and private sellers in one fluid
marketplace.
The $1 million auction for $1,000 is closing on Tuesday July 22, 2008 at 12 p.m.
For more information visit BigBangNames.com.
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