You probably have heard it before. Some people have become rich by buying and selling domain names. How exactly did they do it?
Domain names are names that identify a website — google.com, yahoo.com, harvard.edu, un.org, to name the most popular ones — and these can be bought for less than $10 a year. What’s interesting is that there are individuals and organizations who are willing to pay hundreds of thousands, sometimes even millions, of dollars just to acquire a particular domain name.
Last year, for instance, the domain name sex.info was auctioned and sold for $202,000.
The more recognizable sex.com domain was sold for $14 million in 2006.
Non-porn-related sites are also a hit. In June 2007, SEO.com was purchased for $5 million.
Unfortunately, the most sought-after domain names are almost always already taken. Still, there is a possibility of making big bucks if you can identify and buy domains that are currently not yet taken but are expected to become popular in the future.
Or you can also buy a domain that is currently being sold, wait for it to increase in value, then resell it later at a much higher price.
Over at domain auction site GreatDomains.com, for example, the owner of dollars.com is now auctioning his domain and, with two more days remaining, the latest bid price is $478,000 (300,000 euros).
The domain seu.com, which may be useful for a company or organization with those acronyms, is currently fetching $23,000.
So if you’re looking to invest in a domain name with the expectation of value appreciation in the next few years, check out a list of domains that will be auctioned at GreatDomains.com. Bidding will start today, Thursday, April 17, at 20:00 GMT and will close on Thursday, April 24, at 20:00 GMT.
Here’s a few of those domains that will be auctioned starting today:
Ian Veneracion is the New Face for Conzace
4 days ago