With an increasing number of businesses needing names for websites, owners of in-demand site names are becoming millionaires overnight.
For example, in March of 2006, the domain name Blue.com sold for $500,000. The site now includes links to adult sites and airfares. The seller, Amy Schrier, bought the site in 2002 for $65,000. In the United States, approximately one to two thousand people make their living buying and selling domain names.
Most of the vendors buy or register domain names, then develop the sites’ commercial value by adding content and links to increase marketability. It is an investment in virtual real estate.
Sales of 5,851 domain names generated 29 million dollars in 2005, almost twice as much as the year before. Investors seeing the potential for further increases are buying or investing in domain name companies. For example, in 2005 Highland Capital invested $20 million in YesDirect, a domain name company holding 600,000 names. YesDirect is developing content for the sites it holds.
There are even trade shows being hosted in Las Vegas to bring together domain name buyers and sellers. A recent Las Vegas trade fair attracted...
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