Furniture.co.uk Sold for $700,000

[atlas]

We received an email today that the domain Furniture.co.uk has been purchased for $700,000. The note came from the buyer Graham Haynes. According to Graham his company was the buyer of Purple.co.uk and BedroomFurniture.co.uk as well.

http://www.thedomains.com/2016/07/29/furniture-co-uk-sold-700000/

 

[Edwin]

Seems like a good result for both parties, especially given the business the buyer's already doing on the back of BedroomFurniture.co.uk.

I imagine that they will save a small fortune on ads if they decide to go down the radio/TV route - it is as attention-grabbing as it's possible to get in the sector!

 

[martin-s]

Couldn't agree more about building a good business on a top-end generic (obviously).

But $700k. Jesus.

 

[websaway]

http://www.acorndomains.co.uk/threads/great-post.107951/page-2#post-414249

 

[Murray]

If that is the real price, congratulations to the seller

I wonder what the negotiations were like

I don't know how you turn down a £50,000 offer, let alone what it went to

 

[Murray]

Will never know but maybe it went "Hi is furniture.co.uk for sale, and if so how much?" and the previous registrant replied starting high. Subsequently a sale was agreed at $700k. I'd be surprised if there was a lot of negotiation

Wouldn't you hire someone to negotiate for you for a deal like this

Id be pretty disappointed if the best deal they could get me is $700k

But then who knows the real price, good publicity to say it was a big figure

 

[Murray]

You'd be disappointed as the buyer or seller? I assume as a buyer..

Indeed as the buyer

If you owned the domain and received a legitimate $100,000 offer, would you have sold?

That's a tough offer to turn down, I really don't know how you make it to $700k saying no along the way.

Your offer is $500k? thanks but no thanks. :|

 

[Skinner]

I looked at this domain on May 4th, so about 2 months ago and it were dayline then, so I'd say its safe to assume it were them.

 

[atlas]

The apparent buyer is named Graham and has a username on some forum of BetTheLot. He's having some heated discussions in the comments column on TheDomains.com below the article about the sale.

Surprised and sad to see the attacks on .uk and also on someone who is willing to invest big on a domain.

 

[martin-s]

The apparent buyer is named Graham and has a username on some forum of BetTheLot. He's having some heated discussions in the comments column on TheDomains.com below the article about the sale.

The Alexa thing is a bit suspicious tbh.

Assuming an average sale price of £1000+, you'd expect much more traffic to make up £4-5m of sales.

 

[aZooZa]

Simpler than duedil.com - just substitute company number in URL:

https://beta.companieshouse.gov.uk/company/06874591

 

[bonusmedia]

More than I'd expect but then I don't have a multi-million pound furniture business.

Looks like a solid company - they paid £500k in corporation tax this year, that's a pretty decent contribution

Alexa rankings are entirely unreliable.

 

[doma1n]

Congrats to the seller and buyer. Great purchase for their business.

 

[ian]

He's apparently a long time domainer since 1999 and appears quite open to discussing his purchase.

I'd say in his position it is an entirely logical approach, to advertise what he paid for it, so that it firms up the asset within his company for a potential future sale of either it, or the business. Price seems quite high to me, but then I don't see .co.uk domains having anywhere near that value today, but it is certainly an eye opener.

 

[BeachLife]

The buyer has certainly been drinking the kool aid, but then if he has been making good money online in the furniture field then why not follow his convictions.

It would be an interesting case study in the future. I assume they will capitalise the domains in the accounts, so we may be able to see in a few years time if they have been written down in value, as others have done before.

 

[serothehero]

Indeed as the buyer

If you owned the domain and received a legitimate $100,000 offer, would you have sold?

That's a tough offer to turn down, I really don't know how you make it to $700k saying no along the way.

Your offer is $500k? thanks but no thanks. :|

Nobody with a brain would offer $700K at the first pitch. Furniture.co.uk was probably getting alot of ads revenue from them and they reached a price with that in mind. Or they are inflating the reality for market attention.

 

[ian]

Nobody with a brain would offer $700K at the first pitch. Furniture.co.uk was probably getting alot of ads revenue from them and they reached a price with that in mind. Or they are inflating the reality for market attention.

I think Murray's point was more about what level you'd say yes to, using an example of an initial offer of $100k etc. Hard to turn down, but I guess at say $100k starting, you'd think ok, there is room to move here, but holding firm to $700k is brave. Having said all that, some portfolio owners are stubborn as hell to the point you'd question whether they want to sell at all.

 

[philiporchard]

I imagine the seller was dictating the price from the outset - as you'd anticipate with a premium generic.

And yes, sellers do turn down offers of 100k for domains. Have you tried buy a domain from Denys lately He's got a geo I want and I £100k isn't going to be enough!

 

[Murray]

And yes, sellers do turn down offers of 100k for domains. Have you tried buy a domain from Denys lately He's got a geo I want and I £100k isn't going to be enough!

His sold page doesn't look crazy http://buydomainnames.co.uk/domains/sold

He caught my town name not too long ago, I made him a low xxx offer but he never replied, might as well have sold it to me though as no one else will ever buy it

I assume you want Liverpool

 

[BeachLife]

Furniture.co.uk was probably getting alot of ads revenue from them and they reached a price with that in mind.

Why would furniture.co.uk be getting lots of ad revenue?