Sex.com not so sexy for owner
About the author:
Kathryn Vercillo is an avid blogger on frugality and personal finance at Promotional Codes.
Having the right domain name is one of the most important things that you can do for your business. A great domain name helps people find your website, generating traffic and helping to drive up profits. That’s why there are so many people willing to pay thousands (and even millions) of dollars for some of the most popular domain names in the world.
However, as one domain name owner has learned the hard way, there may be such a thing as paying too much.
It’s probably no surprise to you that one of the most expensive domain names ever sold in Internet history was Sex.com. It sold for a whopping $14 million (£9 million) in 2006 second only to the $16 million sale of Insure.com last year. The domain name was considered to be worth this much money because so many people would be interested in visiting the site, making it a profitable one. However, it’s turned out to be pricier than the owner can handle.
Escom, the owner of this domain name, has been unable to pay off certain debts and therefore is facing foreclosure. The domain name needs to be sold off to pay for these debts that are owed. It is believed that the domain name is still worth millions of dollars. In fact, people interested in bidding on it when it goes up for auction next month will need to bring a $1 million certified cheque with them just to participate. However, it’s been only four years since the last time this domain name sold and we can see that the site’s owners haven’t been able to hang on to it.
What does this tell us about buying domain names? There is definitely a lot of value in a good domain name. It can increase your profits immensely if you choose and register a great name for your business URL. However, there’s such a thing as going overboard by paying too much for a domain name especially when the economy is so shaky. It’s best to look for fairly priced domain name businesses that can offer you the registration of a great name at a good price. This helps to maintain the balance between getting a good name and paying too much for it.
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