REDC announces acquisition of Auction.com for $1.7 million

Chairman Robert Friedman announced in a press release March 18, 2009, that REDC, the leader in real estate auctions, has acquired the domain name, Auction.com, for $1.7 million.

"I've wanted this domain for years and I'm thrilled that we were able to acquire this coveted top level domain," Friedman says. "REDC is without question the number one real estate auctioneer in America and quite likely the world. This is a domain we should have had from the beginning and I'm thrilled we are finally Auction.com."

REDC intends to move its site from USHomeAuction.com to Auction.com.

Friedman further states in the PR: "Only REDC, with our large marketing campaigns, can maximize the benefit of this domain. Potentially, Auction.com can be the main portal for real estate auctions in the USA." The Irvine, Calif.-based company has sold more than $4.5 billion in real estate assets at auctions since May 2007.