Speaking of Domain Names
Posted on May 1, 2007
Filed Under business, web 1.0, Money |
I recently went through the process of setting up a couple of websites (including this one). I thought registering the domain name would be a piece of cake. I was wrong. I wish I had read this first. It would have saved me a lot of trouble.
I had the name that I wanted, but I, of course, found that it was taken. It was not, however, being used for anything. It was a fairly ordinary name, but short and easy to remember. So, I tried to buy it.
I thought an opening offer of $1,000 would be reasonable but decided that it would be prudent to get an appraisal first. I was slightly shocked when the results came back. I was told that I could expect to pay $12,000 to $15,000 for that domain name.
What the hell? Oh well, I thought, let’s see if I can get it for a grand, anyway. So I made contact with the owner…
I waited some time for a response, and I had moved on to other ideas before it came back. He scoffed at my opening offer. The owner wanted “six figures, minimum, non-negotiable”. So, in return for his (roughly) ten bucks a year parking fee, this guy expected to make a hundred grand (minimum, non-negotiable) profit.
I’m not a big fan of regulation, but I think that, here, a policy of use-it-or-lose-it might be in order.
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