Want to Bid on Sex.com? Deposit $1 Million.
Thursday, September 2nd, 2010
If an auction occurs, expect to put your money where your mouth is.
We might never see an auction for Sex.com. But if we do, expect to put up a significant deposit if you wish to bid.
Court documents show that the bankruptcy sales procedure for Sex.com will include three phases.
In the first phase domain broker Sedo will do a worldwide outreach and prequalification of interested parties. The second phase is a negotiation period with qualified parties. The third phase will include further negotiation and, if necessary, a private auction.
This “private sale period” is 90 days long. If it doesn’t result in a sale at a minimum specified price, Sedo will hold a public auction within 30 days of the end of the private sale period.
If a public auction is held, each bidder will need to meet a number of financial requirements and must make a $1 million deposit.
Sedo and the debtors aren’t disclosing what the minimum sales price must be for obvious reasons. That information, along with Sedo’s sales commission, is redacted from court documents.
If you’ve been sitting on the fence about buying the domain (and I know many of my readers have been looking for coins between the couch cushions to come up with some spare cash to buy the domain), you should probably get in touch with Sedo during the private sales period rather than waiting for a public auction.