Rick Latona Auctions Teams up With Domain Capital
Wednesday, September 10th, 2008
Latona inks agreement with Domain Capital to provide financing.
Rick Latona has partnered with Domain Capital to provide financing for domains purchased through his newsletter and Rick Latona Auctions, LLC (which will be holding a live auction at this month’s TRAFFIC show). Additionally, Latona is paying 10% of the down payment on domains he sells when financed through Domain Capital.
In a press release, Latona noted that Domain Capital typically requires a 40% down payment on domains. With his offer, the down payment will only be 30% because he’ll pick up the rest.
This is a somewhat surprising move since Latona already offers financing through his DigiPawn company. Financing is a regulated industry, and perhaps Latona wants to leverage the legwork Domain Capital has already put into setting up its domain financing company. Additionally, it removes the repayment risk and Latona gets his money upfront.
Domain Capital has agreements with other domain sales companies including Moniker and GoDaddy.
Further Reading:
goog news for Rick’s followers
:)