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09|21|2008 09:30 am EDT

IRS to Auction Seized Domain & Website

by Chad Kettner in Categories: Domain Auction

The International Revenue Service (IRS) has seized a website owner’s domain name and will auction it off to pay for $280,000 in overdue taxes.

DoctorTalk.com, appraised at $526,000, will be sold through IPAuctions.com at a starting price of $280,000. The bidding process requires an initial deposit of $10,000 and bids can be sent online or by mail.

According to appraisal and liquidation specialist, Eileen Foy, this sort of thing happens quite often. “We’ve done quite a few of these in the past,” said Foy. “A lot of times we do them in conjunction with the actual business itself. But this time, I think due to the value of this, we just went for the website.”

[via Journal Record]

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14 Comments

Chris

September 21, 2008 @ 12:56 pm EDT

It’s not clear from the post, but it seems like the auction includes the website / business. But even with that, I don’t see income that justifies that appraisal. I only see what must be a projected income for 2008 of $39k, and no indication of traffic numbers. Is it just me or is there a huge void of data and information that should be seen to back up a document like this…?

Even if the site has an income of $40k a year, is someone really going to pay more than 10 times the income for a domain and site like this…? If so I’m going to spend more time developing sites. :-)

jp

September 21, 2008 @ 1:39 pm EDT

I just went to DoctorTalk.com. The website appears to be based on a live radio show made by the doctor. I’m not sure there is any value in this unless the radio show keeps up and continues to promote the domain, which why on earth would the Dr. continue to do that. To me it seems like one of the most expensive expired traffic domains ever. Heck, compete.com only guesses at 400 uniques per month.

Chad

September 21, 2008 @ 5:26 pm EDT

You’re right – it does include the website. But it doesn’t seem like a site that very many people would be able to maintain. The value of the website seems exclusive to the current doctor or another doctor who would be able to maintain what’s going on.

Sash

September 21, 2008 @ 10:48 pm EDT

Wow that site sucks, maybe worth a few thousand for design and content. Domain name and traffic are the valued higher considering it was based around a particular doctor.

jp

September 21, 2008 @ 11:07 pm EDT

Yea, I’m not sure that the “thats how much he still owes in taxes” approach is really a proper way to value a domain.

Stephen Douglas

September 22, 2008 @ 2:39 am EDT

DoctorTalk.com worth WHAT!!! Even with the website, that’s a bit steep. I own NudeTalk.com -$999, and “TalkExpert.com” $999. If anyone is interested, 10% will go to Adam.

Also, it’s not the “international revenue service”, but the “Internal Revenue Service” which makes the abbreviation IRS.

dch

September 22, 2008 @ 3:27 am EDT

isn’t it _internal_ revenue service?

Trendicator

September 22, 2008 @ 8:07 am EDT

the appraisal of the domain is just way off reality. i don’t think it will sell

tim davids

September 22, 2008 @ 9:36 am EDT

They don’t collect enough taxes here so they have gone international…

DN

September 22, 2008 @ 10:50 am EDT

IRS: internal revenue services ??? hmmm…

NameSugar

September 22, 2008 @ 10:59 am EDT

We all know what appraisals are worth. Nothing.
I’ll be surprised if it get’s the minimum bid.

On another note, say it does sell, since the reserve is what the guy owes in taxes will they give him back the difference? J/k, I think I can guess: no.

matt

September 22, 2008 @ 1:00 pm EDT

Hi there I own alldoctorstalk.com which I think is far better as it could be used for a interactive site for so many doctors ect.

BullS

September 22, 2008 @ 2:06 pm EDT

I own BullShitWebsites.com and that what the site is about.

searchenginemonetization.com is for sale.

BullS

September 22, 2008 @ 2:07 pm EDT

“NameSugar

September 22, 2008 @ 10:59 am EDT

We all know what appraisals are worth. Nothing.”

Totally agree….

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