Patnent Kinetics, an east coast IP firm, announced today via PRnewswire the auctioning of the domain name Cold.com.  The domain name has a minimum bid price of $1million.

The press release describes Patent Kinetics as “an Intellectual Property strategy, evaluation, and brokerage company specializing in patents, trademarks, copyrights, and high value Internet domain names.” This is the first domain name auction DNN has seen from this company.  We’d sure love to see another high profile sale like this go through especially from a relative newcomer.  We tend to agree with Mike at TheDomains that, given the current economic climate and other factors, the company has probably overpriced the domain.

Interested bidders can find the instructions on the sealed bid process at the Cold.com website.