Reglikedomain industry desk

Assets fail to sell in liquidation auction — Income Store

Assets fail to sell in liquidation auction — Income Store

No one was willing to pay $2.5 million for The Income Store’s remaining assets.

Hands holding bid cards in auction

A collection of websites and domain names owned by the defunct firm The Income Store failed to sell in an auction last month.

The assets included income-producing websites created by The Income Store along with a bunch of subpar domain names.

The business was allegedly a Ponzi scheme, and the goal of the auction was to pay the court-appointed receiver’s costs and return some money to victims.

Right of the Dot organized the auction. It originally planned to hold the auction on June 10, but the receiver delayed the auction by six days, stating that there were lots of interested buyers who hadn’t completed due diligence.

In a court filing (pdf) yesterday, the receiver stated that no one met the minimum $2.5 million starting bid to acquire the assets.

The receiver now plans to divide the assets into smaller lots for an upcoming auction on July 8.

Also on the wire

Other reporting from the domain desk.

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