Record $1.1 Million USD Paid for Three Word Domain

July 18, 2008; 05:40 AM

Springfield, MO (PRunderground) July 18, 2008 – Despite the turbulent US economy and increasing oil costs, a record price was paid for a three-word domain name. The company “Best Online Casino Gambling” (BestOCG.com) agreed to pay $1.1 million US dollars in stock and cash for the domain name GamblingForumOnline.com.

Regardless of the skepticism of industry experts towards high priced domains, Sam Jackson, CEO of BestOCG.com declared; “We are very proud of our purchase of this piece of internet real estate. With the extremely competitive online gambling market, it is crucial for a web site to have the best domain name possible. We now have one that is not only great for search engine optimization but also describes exactly who we want to be.”

Tom Gordon, owner of GamblingForumOnline.com added, “There are only a limited number of quality domains and with growing investments in online advertising, higher and higher domain name prices are justified.”

Domain name prices had cooled down after the dot-com bubble of 2000. Over the last few years however, the domain name industry has rebounded, with the sequential completion of some major sales. In 2004 many domain names started to sell for six digit figures, followed shortly after by the one million dollar sale of Men.com. Since then, prices have continued rising with many high profile multi million dollar sales. This trend has culminated with the nearly $10 million dollar purchase of Fund.com.

Given the high prices commanded by single word domain names, many corporations are looking to buy prime two and three word domain names while the prices are still comparatively low. Some two-word domain names like CreditCards.com, which sold recently for $2.75 million dollars, have already reached record prices only previously achieved by single word names.

Mr. Jackson (of BestOCG.com) said his decision (to buy GamblingForumOnline.com for $1.1 million) would accelerate what he believes to be a new land rush of businesses trying to benefit from prime two and three word domain names.

Source: www.www.prunderground.com