Saturday, January 10, 2009
Where Is That Next Gold Rush Anyway?
One of the get-rich jackpots of the past decade or so was *domain-flipping*.
That's where you buy an internet domain like "captiousnut.com" for $10,000 and then you flip it for millions later on.
Actually, unclaimed domains are more like $10 apiece - or even less.
Anyone who discovered this gold mine early on must have made a fortune. [I don't know anybody, do you?]
I just found some blogger's compilation of the ten highest selling domain names:
10) Shop.com for $3.5 million
9) Korea.com sold for $5 million in January 2000
8) SEO.com sold for $5 million in June 2007
7) AsSeenOnTv.com sold for $5.1 million in January 2000
6) Casino.com sold for $5.5 million in 2003
5) Beer.com sold for $7 million in 2004
4) Diamonds.com sold for $7.5 million in 2006
3) Porn.com sold for $9.5 million in 2007
2) Sex.com sold for $11-14 million in January 2006
1) Business.com sold for $350 million in 2007
Re-scan that list. Apparently we inhabit a materialistic, alcoholic, gambling, money-chasing, lecherous society!
There must be more than a few people who cleaned up from flipping domains. Imagine, one insight like this and some spare change....and you'd never have to *work* again.
You could sit at home all day in your underwear, drinking macro-brews, playing online poker, ordering expensive gadgets, and enjoying virtual companionship from sites #2 and #3!
UPDATE - I just shorted WestCoastTom.com at $6.95!
I've elaborated on this post in - Domaining Gold.