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Short Take: Loans.com domain fetches $3 million in auction

Web address Loans.com sold for $3 million Friday, setting a precedent for a domain name sold by auction. San Jose computer consultant Marcelo Siero sold the domain name on GreatDomains.com to an as-yet-unidentified business, which plans to disclose its name upon transfer of the Web address. The auction ended Friday at 4:00 p.m. PST. Founded in 1996, GreatDomains.com has auctioned such high-profile domain names as Drugs.com and Capital.com.

Web address Loans.com sold for $3 million Friday, setting a precedent for a domain name sold by auction. San Jose computer consultant Marcelo Siero sold the domain name on GreatDomains.com to an as-yet-unidentified business, which plans to disclose its name upon transfer of the Web address. The auction ended Friday at 4:00 p.m. PST. Founded in 1996, GreatDomains.com has auctioned such high-profile domain names as Drugs.com and Capital.com.