BUYING DOMAIN NAMES IS HOT AGAIN |
Tuesday, 16 May 2006 |
In the glory days of the dot.com boom, selling domain names was akin to selling prestigious water front real estate. Entrepreneurs snapped up thousands of generic names like business.com (bought in 1995 for $150,000, and sold four years later for $7.5 million) and sold them to large corporate organizations for millions. Those days may be over but the practice of buying domain names is hot again – but this time it’s the large firms that are snatching up generic domains by the thousands and filling them with pay-per-click ads or shopping them to small businesses. Domain names may no longer sell for millions but they are still attracting healthy figures - a failed US internet company is currently selling off two of its domains, stuff.com and home.net, which have already attracted bids between $300,000 and $500,000 each.
Twenty-one-year-old Chicago based graduate Anthos Chrysanthou is one of the many now making a business out of snapping up expired domain names and then reselling them, often back to the previous owner who may have let them expires unwittingly. The Wall Street Journal reports that Chrysanthou’s company charged one local real estate agent almost $2500 for her old domain name, after she forgot to pay her $9 annual renewal fee. Ouch! by Billy T
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