4realz.net

Comment from Joel Burslem
Time December 21, 2007 at 11:32 pm

Looksmart bought Edgeio - not sure if the purchase included ARES’ assets.

Comment from loren nason
Time December 21, 2007 at 11:34 pm

I wondered that myself. I almost posted about it.

For one that it didn’t get any offers is bad so you can now discount the price (no offers=price to high)

Two, the fact the founders didn’t buy it back makes you wonder.

Three, It might have 12k per month revenue built in but how many of those customers are/will jump ship? Let’s cut that revenue number in half (high hopes) and then offer 10x monthly revenue. 60K offer. Typical website buying is to offer 10x monthly revenue, not typical of buying a business but lets just lowball it and see what happens

Maybe 60k is worth access to 57 MLS’s???

I’ll pitch in 1k
you in for the 59K????

Comment from Dustin
Time December 22, 2007 at 1:31 am

You couldn’t pay me to run a bunch of IDX websites! The upside seems so small.

Comment from Dustin
Time December 22, 2007 at 4:15 am

Joel: The action site definitely makes it look like no one had bid on the ARES’ assets.

Comment from Michael Price
Time December 22, 2007 at 8:39 am

A comment on TechCrunch: The assets are going in a separate auction

Keith Teare
December 22nd, 2007 at 4:22 am

A couple of people have asked about the ARES sale.

The reserve on ARES was $150,000. Despite a lot of interest in the assets nobody bid the reserve. As a result there was no buyer.

In discussions today we have decided to re-auction the ARES assets, but with no reserve. The auction will run through next Wednesday.

Keith Teare
ceo/edgeio

Comment from Dustin
Time December 23, 2007 at 12:37 am

Michael: That’s interesting stuff. Great find.

Comment from Niki Scevak
Time December 23, 2007 at 6:25 pm

Dustin,bid is up to $22k. You can see at this page: http://www.domaintools.com/edgeio-auction/

Comment from Dustin
Time December 23, 2007 at 10:31 pm

Fascinating! Great to know the auction is on!

I always wonder why people start betting so early on an auction that won’t end for a few days. Do they see it as an advantage to run the price up early? Do they just want to see their name on top?

Interestingly, I’m counting 9 bidders so far:

amilator
astanley
bgaskill
Domained
Globalbillboards
mhavoc
michaeldm
MyREALTYcom
SRE

With the exception of MyRealty.com, I can’t make out any of the bidders.

Comment from Jay Thompson
Time December 24, 2007 at 8:47 am

I don’t understand why “bgaskill” keeps overbidding himself:

2007-12-24 00:25:52 bgaskill $26,000 (proxy)
2007-12-23 20:18:04 bgaskill $22,640 (proxy)

Why bid 22,640 and 4 hours later, with no other bids placed, increase it to $26K???

This isn’t the only example:

2007-12-22 10:03:15 bgaskill $17,250 (proxy)
2007-12-22 09:46:58 bgaskill $15,839 (proxy)

What’s up with that? Seems either bgaskill is trying to run up the price, or somethings just goofy with the auction site.

Comment from Jessie B
Time December 24, 2007 at 10:00 am

Touching on previous conversation… Maybe Z will bid to get the listings and access to data.

Comment from Dustin
Time December 26, 2007 at 10:09 am

Jessie: Interesting idea, but I heard somewhere that Zillow has already gone the route of becoming a broker in many areas in order to get access to listings. I think going the brokerage route, versus the IDX route, makes a lot more sense because they get access to so much more backend data.

Pingback from Up… Up… Up… ARES Action ends with michaeldm.. « 4realz.net
Time December 26, 2007 at 5:18 pm

[...] we know what happens to ARES… Or do we?  A few simple google searches didn’t turn up anything on the winner. Any [...]