NOGUCHI: But once in a while, someone registers a name that later becomes popular. Absolutely nobody could believe that anybody could be stupid enough to spend that kind of money on a domain name. I call it the shot that was heard around the world. SCHWARTZ: In 1997, when I bought, it cost me $42,000. But back when Schwartz bought some big names like, few others were doing what he did. Do you know any store in the world that has 1,500 people lined up every single day of the year? But guess what? Fifteen hundred people a day come to. RICH SCHWARTZ: I don't have a candy store. On most of his sites he simply posts links to other companies and collects millions in advertising by redirecting traffic to those places. He doesn't do much with the 6,000 sites he owns. So the fact that there are only so many available words out there to turn into domains, that brings a value to each of these properties.
And like real estate there's a scarcity to domains. JEREMIAH JOHNSTON: We like to think of domains as virtual real estate.
#Andybooth domainer plus#
Plus a diminishing pool of good names drives prices up. The reason: more companies realize there's advertising potential.
NOGUCHI: Web properties are appreciating. That's what it's about generally in this market. NOGUCHI: An opportunity to sell ads targeted at horoscope watchers, or Booth could flip it to someone else willing to pay more for it.īOOTH: I expect that I'll find some way to find a higher paying bidder.
So I thought it was a perfect opportunity. He took home the prize by paying $33,500.ĪNDY BOOTH: Women have a tendency to spend an awful lot of money, usually on the Internet. YUKI NOGUCHI: At a live auction last week, there was a bidding war for, and the winner was Andy Booth.
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