Monday, 19th September 2011, 08:28:25
A domain name has sold in Australia for AU$125,000 (£82,107), making it the largest sum ever paid for the commodity in the country.
Investmentproperty.com.au proved popular among buyers, which could explain why the price was pushed up to such an extent.
Mark Mendel of Find Investment Property is quoted by Smart Company as saying: "I don't think businesses realise the value of certain domain names."
He believes it is a rare thing to find an individual who is experienced in the business work yet also acknowledges that the right domain name can have huge benefits for their organisation.
Mr Mendel goes on to predict that the current owner might decide to sell the website title in 12 to 18 months, although it might be difficult to get the equivalent value from the investment.
High-profile figures and companies were recently warned to take action to protect their brand from the upcoming .XXX domain name by registering to get the site blocked when it comes into action.
Posted by Phil Williams
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