I read with amazement today that “bidding” on Aaron Brazell’s Technosailor is up to $23,750, with Aaron setting the BIN price @ $30,000. I don’t want to rain on Aaron’s parade, I’ve worked with Aaron previously and I’ve got (previously and into the future) a lot of time for Aaron, but something is rotten in the state of Technosailor.
I put “bidding” in adverted commas, because the notion that bidding has reached this point is spurious at best, lets look at the bids for the site:
One bid at $7500, one at $23,750. Nothing, nudda, zilch bids in between. If it doesn’t look right it probably isn’t. NO ONE bids an additional $16,250 in one bid, particularly for a site with a revenue history of $250/ month. $23,750 is 95 times monthly revenue, which is literally insane. Sure there is plenty of room to improve returns from the site, but to this extent? Why not bid at $8000 or even call it an even $10k, after all site acquisition is about getting the best price you can for a site, even if it does result in a small bidding war. Unfortunately Aaron is now asking $30k for the site BIN, which is even more insane, 100+ times monthly revenue. If it is worth this, all my talk about there not being a bubble is wrong, there is a bubble, a bloody great big one centered on blogs.
Having said all that though, I could be wrong. If it goes for $30k though, I reserve the right to label the buyer as insane for the rest of my life 🙂