Domain Investing has reported the suspension of an auction to sell the Internet.com domain name. The auction was announced on a specially created website at Internet.com in early February. The live auction, scheduled for mid-March, never actually happened. Instead, a few days ago, a notice appeared on the website that the seller had suspended the auction process.
According to the explanations on the auction website, nine potential buyers showed interest in buying the domain. However, seven of the bids came without evidence of sufficient funds or were below the $35 million trigger price. The remaining two statements of interest came from corporate bidders who complained the timeframe for the auction process was too short for their six-month budget cycle and board approval. As a result, the auction, which could have led to the conclusion of one of the largest domain deals in history, never took place. However, the owner of the Internet.com domain does not seem to have lost hope of selling the asset at a profit – the seller is reported to be engaged in private negotiations with “highly motivated parties.”
