Read the fine print. Or at least the print. The Cowboys thought they were bidding on the Cowboys.com domain name for $275 through an auction ran by Moniker Online Services LLC. Problem. The name was listed in an auction in the $100,000 to $500,000 category which made the opening bid starting at $225,000. Monte Cahn (how cool is that name?), co-founder and CEO of Moniker said they submitted an absentee ballot after shelling out $499 (or is it $499,000) to participate in the auction. The bid they thought they were giving did not land in the area outlined above…
The Cowboys won the auction but had something akin to sticker shock when they saw that they had bid $275,000 for the name rather than the $275 they thought they had bid, Spokesman Rich Dalrymple said.
“We didn’t realize what the price was. Our representatives misunderstood what the pricing system was, and it was a simple mistake,” he said. “So we just said we didn’t understand the structure of the auction and we basically withdrew our bid and decided we weren’t going to pay that amount.”
“Now just like with [traditional] auctions, the auctioneer doesn’t typically say ‘thousand’ at the end of every single confirmed bid on the floor. Once it starts off at $255,000, the next bid goes to $260 and $275 and so on and so forth, but our tapes reveal that $275,000 was repeated on the floor, but the phone representative might not have repeated $275,000,” Cahn said. “However it is Cowboys.com, it’s a premier domain name, and the minimum bid price was $250,000 and it was known.”
The Cowboys backed out and it eventually sold for $370,000. You can read about the whole damn thing HERE. This post was basically so I could stick this Cowboy cheerleader on here.