Bids from the Dec. 21 auction of the domain name PublicRelations.com (PRN, Dec. 20), held at www.domainrace.com, did not meet the "owner's reserve" asking price. As such, the auctioneer, Ron Perelman, is negotiating with bidders and considering a drop in the reserve price or a new auction in the new year, when more people might want to bid.
Perelman declined to divulge the dollar amount of the owner's reserve or the highest bid. But, his site estimates the sale will fall in the seven-digit range, based on negotiations thus far.
In 1995, PublicRelations.com owner Edward Segal bought the domain name for $40. If the auction garners a meer $1 million, Segal stands to incur a 25,000% gain on his investment.
(Ron Perelman, 714/623-5000.)