I Paid $500,000 For A Domain Name

Last Update: November 02, 2019

Yes, you read it right.

In 2012, I was working for an Asian multi-national. The Internet Corporation for Assigned Names and Numbers (ICANN), was issuing new generic top-level domain (gTLD) names for public bidding.

Anyone can buy:

<NAME>.com

Or any of the

<NAME>.net / <NAME>.org / <NAME>.co.uk

But you can not buy a gTLD. Now, ICANN says you can bid for it in a window of opportunity.

So, what are you bidding for?

gTLD is

Name.<gTLD>

so, companies were all bidding for

Name.NIKON / Name.<COMPANY>

and domain registrars we're bidding for

Name.HOTEL / Name.CLUB / Name.CASINO

And many more...

You get the idea. It was a land rush for new domain name business for the future.

That is why today, you can register domain name under all kinds of gTLD.

Yes, the cost for the entire process to own 1 gTLD, which I successfully bidded for the company I was working for at that time came up to $500,000.

To these companies, they are investing in their brand and using the domain name to strengthen their brand value.

Instead of Nikon.com or Nikon.camera

You have endless possibilities for your brand...

Camera.Nikon / iam.Nikon / nyc.Nikon / photo.Nikon

Now, you may ask...

What does this have to do with me?

I am one person...

Paul Graham, one of Silicon Valley’s most notable Venture Capitalists and co-founder of Y Combinator, have this to say about domain names.

“Unless you’re so big that your reputation precedes you, a marginal domain suggests you’re a marginal company”

You have a name.

You business have a name.

You have a niche business name.

Therefore, you can also build value in your name over the longer term. It may be an asset you can sell in the future.

Domain names registered early with functioning websites with traffic have a resale market.

Something for your consideration.

Of course, due to first mover advantage, popularity and most domain names registered, the ".com" domains have a higher perceived value and demand in the market.

Who knows, your $13 domain name registered here at WA may be worth $500 or $1,000.

Join the Discussion
Write something…
Recent messages
starfalex123 Premium
Thanks for sharing with us great post. Keep up the good work. All the best to you on your journey at WA.
Reply
Stanleycmng Premium
Thanks. Best wishes to you too.
Reply
timstime20 Premium
Yes they do increase in value ... especially if the individual or company I have one that I used for just personally blogs on Go Daddy showed a value of $200!so anything is possible
Great post
Thank You ... $500,000 ... that is wild
Reply
Stanleycmng Premium
Yes, It’s crazy, not my personal money but company’s money.
Reply
Tenad Premium
That's interesting to know
Reply
Stanleycmng Premium
Yes, important to capitalize on your effort any way you can.
Reply
EdwinBernard Premium
My personal domain name that uses edwinbernard is now listed by Go Daddy as being valued at $500. I will develop it one day when I am ready.

Thanks for the heads up.

Edwin
Reply
Stanleycmng Premium
Awesome, Edwin. Good for you.
Reply
jonlyf Premium
Nice. My friend is a domain trader. But with a little creativity some people like us can choose. org. net. co. And more but i guess big cooperation surely wants the. Com
Nice article
Reply
Stanleycmng Premium
Yes, you can be creative with more options available today.
Reply
Wilde Premium Plus
Wow, that's actually really interesting. I'd be curious to look more into it. Would be cool have .<yourname> possibilities are endless.
Reply
Stanleycmng Premium
Yes, there are many possibilities.
Reply
Top