|Florida-based auction house Moniker.com announced that the WallStreet.com domain name failed to meet its reserve price at an auction this weekend and will now be re-auctioned at a later date.|
Experts, auctioneers and analysts had speculated that the website could set a new record price of up to ten million dollars but the highest bid for the domain, once an online casino, was only three million dollars. This fell well shy of the reserve price of between four to five million dollars even though the site registers between 2,000 and 4,000 hits a day.
The current owners are believed to be European Internet entrepreneurs who purchased the domain for around $2.3 million when it was last sold.
'There's not a lot of inherent value in either the name or the existing business,' said Barry Parr, Media Analyst for Jupiter Research. 'So what you're looking at is building something on top of that. You'd need to have a pretty clear vision of what you want to do with a domain name like that.'
Analysts stated that the market for domain names is still healthy despite improvements in search engine technology that have made them less important than site content in attracting customers. Earlier this year, Porn.com was sold for $9.5 million with Vodka.com going for three million. In addition, the sites Computer.com and Tax.com are on sale and are expected to raise about one million dollars each.
'It has great brand value because it's Wall Street,' said Monte Cahn, Chief Executive Officer for Moniker.com.