Make $11million in 3.5 hours

At the T.R.A.F.F.I.C. conference for domain name investors currently taking place in New York, an auction of premium .com domain names has taken place. With some domains sporting a $5million or even $10million reserve, it was always possible that some large transactions would be taking place...

Once it was all complete however, 115 of the 217 domains sold for a total of $10.9 million. What was astonishing was that some domains had millions of dollars offered for them, but the sellers just wouldn't let them, go. If all the domains that had been bid for went for the highest bid, then the sale would have netted a massive $63 million. That's a lot of money for 217 domains.

Moniker have a list of the sale prices, which shows some great sales:

creditcheck.com - $3million
seniors.com - $1.8million

But keep a copy of the list and check it in a few years time. I can almost guarantee that a number of the domains sold in the $25k + range will be worth millions. Remember, there is only ONE of each domain name in the world. If you have managed to get laptop.net for a knockdown of $40k, you're the only one who can have the domain name. Just wait until the general public, and the big media spenders figure that one out...

As well know, what happens in the US will happen here within a few years. Generic domain names will continue to rise in value. You need to decide whether to flip those premium .co.uk names that may have cost £200-£500 for £5k-£10k, or sit on them and wait the market out. Although we may never see the multi million dollar prices here in the UK, we will (and already do) see £xxx,xxx values .