[FONT=verdana,arial,helvetica,sans-serif]Real Estate auction specialist REDC has made domain name headlines by shelling out $1.7 million for the domain Auction.com.
"I've wanted this domain for years," REDC Chairman Robert Friedman was quoted as saying in a press release. "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."
Up until now, REDC used the domain USHomeAuction.com, which now points to Auction.com directly.
By showing that descriptive domain names still have high intrinsic value for ambitious businesses, this sale is a clear indication that downturns are also great buying opportunities for those who are either savvy, or rich enough, to make them.[/FONT]
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