Rick Schwartz has inked some lucrative domain name sales, but as he wrote earlier today on his blog: “In the days ahead I will post about the seeds of my first NINE FIGURE deal. Even 50% of the choir won’t see it or believe it. But at least they know not to laugh.”
Though it can’t be confirmed until the transaction is completed, Rick Schwartz has a reputation of being a straight shooter, and when he says something will happen, people and critics should listen.
Technology blogs like TechCrunch haven’t picked up the story, but you can bet they’ll be all over the sale when it happens.
Rick Schwartz, who sold Men.com for $1.3 million, Candy.com for $3M+Equity, and iReport.com for $750,000, also shared insight regarding the negotations behind his past dealings (which include just 15 domain name sales).
iReport.com was one of my best sales. It took about 6 months to complete. Their opening offer was $10,000. I said no to CNN many times on the way to a $750,000 cash sale. The biggest sticking point, making it public. They did not want to be laughed at for spending so much for a domain name. I assured them that would not be the case.
After a few meetings, they gave in as I would not sell without that single concession. It was worth another $750k to me in publicity and to build future sales on. This domain was the epitome of the Internet. A soapbox like no other. Today, iReport.com is in every country in the world and is one of the most recognized citizen journalist sites ever. The sale that keeps on giving to me and everyone else in the industry.
To put things in perspective, a nine-figure deal means a minimum of $100 million. Is Rick Schwartz planning to sell one domain, part of his portfolio, or his entire portfolio? Is he crafting something entirely different?
There is more to this amazing story and the past sales of Rick Schwartz, so keep reading over at Rick’s Blog as the story develops.