22nd November 2007
Domain names 'too valuable to lose'
Domain name news brought to you by DescriptiveDomainNames.com
Owners of generic domain names have been warned to keep an eye on their registrations as valuable sites can be snapped up and sold on for millions.
According to Personal Computer World, sites are now being bought up within seconds and can change hands for anything between $200,000 and $2 million.
The news is indicative of the increasing trend for companies to place high levels of importance on the relevance that a generic domain name can bring with sites being traded for significantly higher prices.
It is thought that many site owners could be faced with a huge bill if they are forced to buy back their web properties in the event of allowing their registration to expire.
"Re-registration, which has to be done every two years, can cost as little as £5 but you can pay ten times as much to get an address back - and sometimes far more," the magazine states.
A recent survey conducted by Nominet found that the value of some domain names is causing some companies to stockpile web addresses as assets.
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