I’ve always referred to this phenomenon as “domain squatting” but I think now it’s more commonly called “cybersquatting.”
Anyway, I am considering registering my own domain to ditch the .wordpress from my URL. I immediately looked at craftlog.com and saw that it was unavailable, but, I could purchase the domain! After all, neither craftlog.net nor craftlog.me is as appealing. I’m not crazy about nanscraftlog.com, but it was available last I’d checked.
And So I offered $25.00 for craftlog.com to whoever owns that site, via domainnamesales.com.
Jessica, a representative from domainnamesales.com (apparently a brokerage agency or clearinghouse for domain squatters) replied to my offer, informing me that her “client’s” expectations were $13,000.00.
A follow-up email from Jessica suggested that I up my bid for this domain. I upped the ante to $100.00.
The next email from Jessica went like this:
The seller and I just spoke. There is no way we can make a deal.
We are very far apart (A lot of money).
I thought about it, and you should really consider registering another website name at our partner registrar Uniregistry.com.
These are only ten dollars, but will grow in value like this one.
Perhaps we can all make some easy money from domain squatting, but one might need to be a visionary or a futurist to know what will be hot in a year or two, and worth that $13,000 or more.
Take a look here to find out the biggest domain name sales to date; the largest, insurance.com, sold for $35.6 million in 2010.