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Generic domain name market is 'becoming like a stock market'

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Breaking news from ihotdesk, the home of IT outsourcing in London:
The generic domain name market is becoming "a bit like a stock market", according to one industry expert.

Category Communications
29 February 2008
The generic domain name market is becoming "a bit like a stock market", according to one industry expert.

Online provider of domain registration services Domainmonster.com highlighted cruises.co.uk, which was sold for a record-breaking amount at the beginning of this year, as a good example of this trend.

The firm notes that whoever had owned it initially could have had no idea how much they would sell it for, demonstrating the benefit of buying a number of "stock", or domain names, and seeing which grows in value.

Matt Mansell, managing director of Domainmonster.com, said: "Some people can hold a rota of 50,000 domain names that they own, and if one of those sell for a million dollars then they were all worth a couple of pounds to maintain.

"Equally, if they sell one in every 100 for £2,000, well then that is good news too."

The most expensive .co.uk domain name is cruises.co.uk, which was purchased for £560,000 in January.

In second place is recyle.co.uk which went for £150,000 last October, closely followed by ink.co.uk, which was sold for £130,425 in 2007.

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