Internet Domaining - Another Way To Do Business On The Internet?

I was reading through some press releases this morning and found one about an upcoming domain auction. This is something I remember hearing about a few years ago, but put out of my head while building long term websites.

After reading the sites press, I decided to check out their website and see what it was all about. What they do is basically just auction off domain names - in most cases these websites aren’t even developed. I was actually sort of surprised to see what some domains were selling for. At one auction in Miami, Florida the domain computer.com (a pretty good domain name, for sure) sold for $2,200,000.00, the second highest auction was investment.com for $900,000.00.

It is definitely food for thought for enterprisers on the internet. A good domain name could fetch
a lot of money - and if the site is already monetized, it can sell for even more.

Have you participated in one of these domain auctions? What was your experience like?

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