But in the last few days I read about the sale of LasVegas.com for potentially $US90 million dollars. WOW!
The details of this sale (which happened back in 2005) were uncovered by master domain “sleuth” George Kirikos from Canada.
Creating A Deal
As I’ve often written on here, sometimes to maximise your price – and create a win / win with a purchaser; you should be prepared to be creative with payment terms.
Otherwise you might not get a sale – or be forced to settle for a figure way below future potential.
This LasVegas.com deal was certainly creative – and the seller certainly maximised their sale price. But the buyer obviously saw value and potential which is why the deal has endured.
As George Kirikos outlined, less than $30 million has been paid so far. $60 million more is to be paid by 2040. If Vegas.com (the purchaser) stop paying in 2016, they’d give up the LasVegas.com domain.
A Footnote On Valuation Tools
George K also pointed something out which I thought was totally indicative of how online valuation tools bear no semblance to reality!
For those who still believe in the value of automated domain name appraisals, Estibot puts a value on LasVegas.com of $231,000. The monthly payments alone are nearly that level, and of course the owners got $12 million up front, 10 years ago!
Perhaps put another “0” on your asking prices of any geo domains; and start structuring some creative payment terms. There’s gold in them there hills! 😀