For those still recovering from the US Marshals Service (USMS) auction of Silk Road’s bitcoins and all the drama that came with it, another high profile auction is in the works that may again attract some high-profile bidders.
Bitcoins.com, currently owned by none other than Mark Karpeles, will be auctioned off via Heritage Auctions. According to its website, it is the “world’s largest collectibles auctioneer”. Karpeles has said that he will sell off this among other possible domain names in an effort to keep his other businesses alive and help compensate MtGox creditors.
The domain name is being auctioned as part of “Lot 49”, in the “2014 July 24 Domain Names Signature Auction – Dallas #1120.” Internet bidding ends on July 23, 10 PM CT. The live in-person auction will be held at Heritage’s Dallas location on July 24 at 1 PM CT.
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The minimum and opening bid is $185,000, or $212,750 when including the Buyer’s Premium. Heritage estimates that the domain can fetch $750,000 or more.
This auction will be less opaque and more automated than the one conducted by the USMS. Like on eBay, a secret maximum bid can be entered. If your current real bid is exceeded at any point, you have the option to have it increased incrementally up to the maximum bid entered.
Bitcoinwallet.com is a good example of how much people are willing to pay for such names. Alex Charfen paid $250,000 for it and relaunched it as a new enterprise. Other high-profile domain names include bitcoin.com (singular), owned by blockchain.info. If the Bitcoin industry continues to grow, successful bidders can reap multifold on the original investment. By comparison, Insurance.com sold for $35.6 million in 2010.