Interesting --> Ebookee.org SOLD for 2 Million Dollars on Flippa

12 years ago

So Flippa has finally come of age, i don't remember any other 7 figure sale there although others may correct me. It looks very impressive and clearly well brokered by Latonas to achieve such a sale.
Joel

Thanks
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Thomas Smale

12 years ago

Originally Posted by Joel Ross

So Flippa has finally come of age, i don't remember any other 7 figure sale there although others may correct me. It looks very impressive and clearly well brokered by Latonas to achieve such a sale.
Joel

I'm not aware of any 7 figure sales that actually went through on Flippa. There are a fair few that "reached" 7 figures but never sold.

As far as I'm aware, the largest Flippa sale is in the mid 6 figure range (but I may be wrong).

With 7 figure sales, it's highly unlikely they will ever go through on Flippa's platform (regularly, anyway). Deals of that size will almost always have some form of financing which Flippa doesn't account for. You're not going to get many cash deals at that level, so the auction format doesn't work.

For example, a seller might be more inclined to accept $1.9m cash than $2m with $100k down and the rest over 5 years.

Thanks
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marketinguk

12 years ago

What a surprise Thomas was watching that as the other main respected broker on flippa lol.
It seemed to good to be true that the sale would actually complete at that figure without a big hick up. It looks like i wasn't disappointed.
Joel

Originally Posted by Thomas Smale

It didn't sell and was relisted with new financials:

https://flippa.com/2772231-ebookee-o...s-huge-traffic

So clearly the seller (or broker - but less likely) was misrepresenting or confused with financials first time around, might explain why the buyer never came through.

$2m (3x multiple) is way too high for a site that is effectively just a database of warez. I'd be surprised if it actually sold for more than ~$500k and even then it's a massive risk.

Originally Posted by Thomas Smale

I'm not aware of any 7 figure sales that actually went through on Flippa. There are a fair few that "reached" 7 figures but never sold.

As far as I'm aware, the largest Flippa sale is in the mid 6 figure range (but I may be wrong).

With 7 figure sales, it's highly unlikely they will ever go through on Flippa's platform (regularly, anyway). Deals of that size will almost always have some form of financing which Flippa doesn't account for. You're not going to get many cash deals at that level, so the auction format doesn't work.

For example, a seller might be more inclined to accept $1.9m cash than $2m with $100k down and the rest over 5 years.

Thanks

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Martin Pupke

12 years ago

This is the highest sale that I have come across that occurred on Flippa, I wonder if it is a record?

Thanks

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"The first principle is that you must not fool yourself - and you are the easiest person to fool" - Richard Feynman

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Thomas Smale

12 years ago

It didn't sell and was relisted with new financials:

https://flippa.com/2772231-ebookee-o...s-huge-traffic

So clearly the seller (or broker - but less likely) was misrepresenting or confused with financials first time around, might explain why the buyer never came through.

$2m (3x multiple) is way too high for a site that is effectively just a database of warez. I'd be surprised if it actually sold for more than ~$500k and even then it's a massive risk.