Signs of Recovery: Domain Names Once Again Fetch Top DollarBy Channel Insider Staff | Posted 2003-12-24 Email Print
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An Internet domain name sells for $1.3 million in another sign the economy is on the rebound.News from Associated Press tells us the Internet is ringing in the new year with domain names that, once again, are netting seven figures.
According to an AP report, a man in Florida sold the domain name, men.com, to a company called men.com LLC for $1.3 million. He paid $15,000 for it in 1997. The purchasing company intends to create a portal for men.
Monte Cahn, CEO of Moniker Online Services which served as brokers in the deal, called the price tag "a big indicator of what's yet to come."