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Press Release - October 29, 2013
MutualFunds.Com Tops Heritage Auctions' Inaugural Domain Name & Intellectual Property Auction
Heritage Auctions, the world's third largest auction house unveils new investment grade asset opportunity; Animation.com, QR.com, NL.com and Bicycle.com among the 68 domain names crossing the block, Nov. 21, in New York
NEW YORK — The domain name MutualFunds.com, potentially valued at well more than $1 million, is being offered by New York Times best-selling author Marc Ostrofsky, as the centerpiece of Heritage Auctions' inaugural Domain Name & Intellectual Property Signature® Auction, with bidding now open until the live auction event on Nov. 21.
The auction marks the first time that a major, mainstream auction house has entered the market for domain names.
"Millions of dollars of Domain Names are traded every single month that the public isn't aware of," said Aron Meystedt, the Founder and Director of the Domain Names & Intellectual Property category at Heritage. "Now, for the first time, the broader public is going to have the opportunity to experience the market firsthand. Digital assets offer a global opportunity unlike any other to the right buyer or business; they offer a different kind of asset and a different way to think about collecting overall."
Important one and two word domain names have a long history of selling for well more than seven figures, including $11 million for Hotels.com, $9.9+ million for Fund.com, $7.5 million for diamond.com and $5.1 million for Toys.com. Now, with the Nov. 21 auction at Heritage, MutualFunds.com stands poised to join those names in the top tier, in front of a global audience.
"If you're an investment business, a bank, or a single investor or collector looking for one of the prime domain names that will ever be made broadly available to the public," said Ostrofsky, "MutualFunds.com is the preeminent domain you could possible want to own. It has staggering potential for the right owner."
Domain names, as the foundation of an Internet presence for businesses, personalities and ideas, have become increasingly important in modern society for anyone looking to establish a brand and control relevant information. As such, URLs with relating to broad ideas — such as Animation.com, Bicycle.com, or DVDs.com, all in this auction — or those with just two letters to them — QR.com or NL.com, also both in the Nov. 21 event — will be highly sought after by both businesses and collectors.
"Domain names are purely digital, have virtually zero carrying costs and they offer the ability to generate passive revenue while you hold them," said Meystedt. "This is digital Real Estate. It's an investment that will never need a new foundation or a new roof but will remain evergreen in the eyes of buyers and sellers, especially if you are lucky enough right now to get your hands on a one or two word or letter dot-com, which are the gold standard when it comes to these investments."