Chinese domain market is preparing for a shock.
A Chinese domain investor that has spent $2.9 million dollars investing in short .com domains that do not contain the letters A,I,O,U and V is causing a major stir in the domain market.
Xiang Gong Fu of Shanghai, China, is dropping his entire domain portfolio of several thousand domains to focus on other ventures.
The domain portfolio is mostly .com, .net, .org and some .CC domain names popular with the Chinese.
“The market is slated for a major correction in 2016, and Mr. Xiang Gong Fu is keen on re-structuring his business focus away from CHIPS domains,” said Chinese industry expert, Johnny Liau.
“Thousands of domains that are no longer needed are going to be dropped, and other domain investors are welcome to assume ownership of them when they drop,” added Mr. Liau.
The Chinese domain market’s fluctuations can be observed daily via BenMi.com.
Such a large domain portfolio abandonment isn’t a first for the domain industry.
In 2014, domain investor Mike Mann gifted away several hundred domains to charities and other recipients, who eventually allowed them to drop.
I bet he was paid $7 million to do it. Successful business owners of any kind don’t intentionally set money on fire and announce their intent and their reasoning to the world. He could with no work involved hire someone to list them at auction or sell the whole portfolio to a larger investor. The whole thing doesn’t sound right.
The Mann Example is apples to oranges, he at least gave them away and I doubt the same liquidity existed in Mann’s portfolio.
This is equivalent to a farmer dumping all his corn on the side of the road with a sign “free corn” then buying all the other farmers corn when the price falls through the floor, because everyone just got a weeks worth of free corn. Then he can double the price of all the corn because he controls the inventory and the price.
Great Article! Where can I find his domains to make an offer or bid?
LOL – maybe the Domain King will drop his domain portfolio next…
will chinese tulip bulbs be the next big thing? inquiring minds want to know.
is it April, folks?
Frank – See http://domaingang.com/about/