Monday

Israel.Com sells for 5.88 Million USD

Online Money Making - Israel.com Bought for $5.88 Million

If you are looking for an online money making system - consider domain name trading.

UPDATE : This story is incorrect (2.6.08 - 2 p.m. New York time) apparently someone made a mistake - the Israel.com domain name has not been sold - but it has got a lot of publicity

An unidentified buyer has bought the domain name Israel.com for $5.88m.

The domain name has been on auction since May 23rd with a reserve of $5.5m. At the moment Israel.com is still a parking page with the Israeli flag and ads. relating to Israel. No details of the design of the new site have been announced.

The domain name was originally bought by Joel Noel Friedman, a Jewish American, back in 1994. Freidman was surprised the name was worth so much, and he originally registered the name as he was afraid it would be misused if it was registered by someone else. He decided to sell it as it is now Israel's 60th anniversary. So he’s obviously got a business head on his shoulders.

Domain names can sell for big bucks – pizza.com recently sold for $2.6M, the person who bought it back in 1994 paid $20 for it. The highest price ever paid for a domain name was $350m for business.com which was bought by RH Donnelley the publisher of Yellow Pages.

If you buy a domain name, or if you already have a domain name you bought a while back and are wondering what to do with it, you can always park it for free with a company like NameDrive. Namedrive will put ads. on your page and each time someone clicks on one of the ads. you can get a small amount of money. If you’ve got a good name it can bring in a lot of money over time.

For more information about making money from domain names see Domain Names