Fashion.com domain to be sold at auction
Fashion.com, the most coveted domain in fashion is to be put up for sale at auction this autumn, with experts speculating it could be one of the most expensive domains ever sold.
Registration to take part in the auction starts on 10 October with strong interest expected from major fashion brands and retailers. Dozens of companies and individuals have made cash offers for the domain over the years but its owners have declined to sell until now.
It was bought by an unnamed trio of entrepreneurs in 1994 who were working on a project in fashion and discovered the domain was unclaimed. After the scope of the project changed, the domain remained unused.
"The owners of fashion.com have decided that a formal bidding process is the best way to systematically and fairly address interest from so many parties around the globe," said business adviser Peter Johnston, who represents the domain's owners. "This approach ensures that all those wanting to acquire the domain will be given an opportunity to do so."
Experts believe the domain could be one of the most valuable ever sold, but any buyer could save considerable sums on marketing and SEO as a result of buying it.
"With the worldwide race in online fashion, I would expect fashion.com to attract a lot of interest from giant retailers and well-known brands, along with successful smaller players and new entrants looking for a competitive edge," said Karine Kugler, CEO of The Three Marketers, a firm specializing in Search Engine Optimization and social media marketing.
"As a result," Kugler concluded, "this could be one of the highest prices ever paid for a domain. 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."
Both a private and public bidding process will take place. Private bidding registration opens 10 October with bidding starting on 24 October and closing on 7 November. If no winning bid emerges from the private auction, a public auction will take place on 21 November with the highest bids from each process compared. The seller, however, will not publicly identify the winning bidder unless this is agreed between the buyer and seller.
The full process is explained on fashion.com.