Ricks scores big sale on Chinese domain site.
I have to admit I wasn’t familiar with domain name brokerage site 4.cn before I learned about a recent sale by Gregory Ricks on the site. But now that Ricks has his money and the domain name is transferred, Ricks is certainly a believer.
Ricks sold the domain name 199.com in an auction on the site for 368,666 RMB (yaun), which is about $54,000 USD. It was his first big sale on the site, and it has given him the confidence to send another valuable domain name to auction: 500.com.
4.cn works similar to Sedo, but with a focus on the Chinese market. (Number domain names are very popular in China, but the site accepts other domains.) Buyers submit offers that the seller can accept, negotiate, or send to an auction. If the seller wants to send the domain name to auction, the person who made the offer has to agree. His bid will be the first in the auction and he has to place a deposit. Other bidders must also make a deposit to bid, which increases confidence in the auction.
Ricks’ sale of 199.com isn’t the only big sale on 4.cn. Other top sales include 866.com for 401,000 RMB and 022.com for 271,000 RMB.
The auction for 500.com ends on April 21, and has a reserve between 250,000 RMB and 500,000 RMB.