Well today a little bit of history was made as ETH.co became the second highest reported .CO domain name sale in history. The domain name sold through a landing page on Efty – the world’s largest commission-free domain name marketplace. Like the title says, this was one heck of a flip – the owner bought the domain name for $25 back in 2010, eleven years later it’s safe to say that his patience certainly paid off.
Here’s a bit more of the scoop from Efty’s blog:
Richard told us the domain name sold via Buy-It-Now with the transaction being handled trough our Escrow.com integration. The entire process only took one day. No broker was involved and the sale was 100% commission free for the seller.
Richard owns a portfolio of another 890 premium 3-letter acronyms which he has build over the last 11 years. He shared with us that this sale is an example of having patience and playing the numbers game. He acquired Eth.co back in 2010 for $25 which was long before Ethereum, the decentralized, open-source blockchain with smart contract functionality was founded.
(Source – Efty.com blog)
This is another great example of why in the domain investing world, it pays to wait, especially when you’re talking about premium domain names. My guess is Richard likely got a ton of offers over the years, likely many people hoped they could snag the domain for a few hundred or a few thousand dollars. When they found the price tag, they likely followed up with a response we all get far too often, “you’re crazy, that’s way too expensive, you’ll never sell for that!”
Never say never! Since Richard used Efty for the transaction there was absolutely no brokerage fee involved, and given that brokers often charge between 10% – 15%, Richard saved $30,000+ thanks to Efty. Congrats to Richard and hat’s off to Efty, not a bad way to end the week