[UPDATED] $5 million and up reserve, Social.com receives no bids

social.com

With less than 12 hours left in bidding, the domain Social.com has received no offers at SnapNames, where the name is being auctioned as part of the Barcelona DOMAINfest Premium Auction.

SnapNames was forced to cancel the June 8th live auction in Barcelona due to technical problems with its website. 

The online auction includes other premium domains like autoracing.com and horseracing, but the featured name of the auction is social.com which even made headlines in publications like TechCrunch who chatted with its owner Scott Carter.

“Carter put the domain up for sale in 1997 for $50,000, but had no takers for two years. He tried using the site to promote different businesses, including a social networking directory from 2007 to 2009 and most recently his Twitter tool BigTweet.”

The lowest bid that can be offered online is $2.5 million USD. 

However, Scott Carter is looking for a price tag of anywhere between $5 million and up.

Interest in social networking names is increasing with the rumored IPOs of companies like Facebook, which is being valued as much as $100 billion.

Online auctions rarely get a lot of activity until the final hours, so it should be interesting to watch whether the domain is sold today or in dealings behind closed doors with Moniker after the auction.

[UPDATE June 15, 2011 03:23 PM EST:  The online auction has ended without the reserve being met.]

[UPDATE June 15, 2011 01:25 PM EST:  DNN's Adam Strong is reporting that social.com has received a $2.5 million bid.]

2 comments
Snoopy
Snoopy

Badly overpriced, he could have a good payday as the time is ripe to be selling. But if he really wants $5million today  I think long term he'll be losing out.