Fashion.com Domain to be Auctioned This Autumn 2019
The Paris Fashion Week 2019 ended recently, and the Internet domain industry was excited by an announcement on the final day of the event. It was announced that one of the most valuable .coms on the net, fashion.com, are to be auctioned off this Autumn 2019. This is massive news because fashion.com is one of the most sought-after and highly valued domains. Domain industry experts believe that it will fetch a record-breaking price.
A Brief History of fashion.com
Fashion.com was registered back in 1994. The domain’s three current owners originally started out together to work on a fashion project. While starting out, they believed they needed a domain for their business needs and discovered that fashion.com was available, so they decided to buy it. However, things did not proceed as planned, and their plans changed, leaving the domain fashion.com unused until today.
As time goes on, the Internet age exploded and domains trading quickly became a norm. At the same time, the fashion industry skyrocketed as well, fetching in billions of revenue each year. As fashion is a keyword in English, the domain fashion.com quickly became a highly sought-after and highly valued domain. This is because fashion.com is short, easy and leaves a powerful impression. As a result, dozens of individuals and companies reached out to the current owners of fashion.com and offered to purchase it over the past 25 years.
“Fashion.com is a rare one: iconic, highly memorable and easily searched.
It should generate strong sales numbers while saving its buyer
millions in sales and marketing costs.”
— Karine Kugler, CEO & Internet Marketing Expert
A Formal Auction to Ensure Fairness for All Parties to Bid for fashion.com
Due to the overwhelming inquiries from many parties, the owners have agreed to sell fashion.com through auction, a formal and systematic bidding process. This ensures fairness and equal opportunities for all those interested in acquiring it.
The auction is believed to incorporate both private bidding and if necessary, a public auction. Private bidding will begin 24th October 2019 and the public auction, if needed, is scheduled on 21st November 2019.
The reason behind this is to account for the fact that some buyers are unwilling to make public the amount of their winning bids. Therefore, private bidding is a necessary procedure. The official service providers include the global leader in secure online escrow payments, Escrow.com, and the pioneering Dutch online auction platform Auction-Experts, which will oversee the entire process of the auction and its related software.
The Overall Process of the Auction
Private bidding will start from 2 PM EST on Thursday, 10th October 2019. Any interested parties can register as a bidder through links on fashion.com after the specified time. Each pre-qualified, registered bidders can only bid once. It is not possible to increase bid against other bidders as all bids are confidential. Private bidding closes at 11 PM EST on Thursday, 7th November 2019.
In the event that the seller does not accept the winning bid of private bidding, public bidding will commence on Thursday, 21st November, 2019. The highest price resulting from the public auction will be compared to the highest private bid. The higher of these two resulting winners will become the new owner of fashion.com.
The information presented in this article is accurate as of the time of writing.
Please note that all details on this page are unofficial descriptions of the bidding process for fashion.com, with the official rules to be formally detailed as part of the bidding registration process which begins 10th October.
For detailed information about the auction, please visit https://www.fashion.com/about to learn more!
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