Flippa announced on their latest blog post that they set a new record – $1 million in sales for one week. Here is a screenshot of the stats:
While that’s pretty impressive by itself, what I found interesting was this little nugget on the blog post:
“…the average price of property sold in the last seven days was $2,675, and a big slice of the action was in more modestly priced properties.”
If the average was really that low, then that means there were a lot of websites sold the past seven days! So much for a summer slow down.
What I want to know is if this $1 million figure includes auctions that don’t actually close. As you all know, I cover the most active and top selling auctions on my Market Snapshots and there are a fair number of websites that don’t actually close. There was one week where two of the top sellers were relisted the following week because apparently the buyers bailed when they “sold” the first time around.
I’m seeing more and more auctions relisted because buyers don’t follow through. It seems to be a problem at Flippa right now. If my gut feeling is correct – that they count all auctions that end as “sold” (regardless of whether they actually close or not), then this figure is exaggerated. Still though, they had a good week so I won’t take that away from them. Congrats Flippa!