REDC Acquires Auction.com for $1.7M

REDC, a leader in real estate auctions, announced they acquired the domain name, auction.com, for US$1.7 million, the company Chairman Robert Friedman announced today (18 March).

“I’ve wanted this domain for years and I’m thrilled that we were able to acquire this coveted top level domain,” Friedman says. “REDC is without question the number one real estate auctioneer in America and quite likely the world. This is a domain we should have had from the beginning and I’m thrilled we are finally Auction.com.”

Currently REDC’s consumer website for Lender Foreclosed home auctions, is www.USHomeAuction.com but the company is in the process of making the conversion to www.Auction.com exclusively.

“Only REDC, with our large marketing campaigns, can maximize the benefit of this domain,” Friedman adds.

Potentially, Auction.com can be the main portal for real estate auctions in the USA, he says.

With the purchase, Auction.com takes the No. 2 spot on the top domain name sales for 2009, following the recent $5.1 million sale of Toys.com, according to DomainNameNews.com.