Bet you’ve never shelled out this much for a domain: Toy retailer Toys ‘R’ Us is set to pay $5.1 million for the Toys.com domain name. The name was sold at auction on Friday. A court now has to approve the sale, reports indicate.
Toys ‘R’ Us and National A-1 Advertising were the two primary bidders, according to a live blog of the auction by DirectNavigation.com.
The domain, interestingly, had just been sold at auction about a month ago. It had previously been owned by The Parent Company (the owner of eToys), which filed for bankruptcy last December. In the initial auction, toys.com went to a company called Faculty Lounge for the price of $1.25 million.
That sale, however, was reportedly “halted” by a bankruptcy court–which is why the new auction took place. As for why the price jumped up nearly five times the second go-round, that’s anyone’s guess. Even more perplexing, Toys ‘R’ Us is said to have participated in the first auction (which ended at just over $1 million). Guess someone decided to up their budget between then and now.