|
|
Domain King Rick Schwartz strikes gold again with sale of ireport.com for US$750,000  One of the world's most savvy domain name investors, Rick Schwartz, has just earned himself another US$750,000 - this time from the sale of ireport.com to CNN. And he reckons they got it cheap.Schwartz, who lives in Boca Raton, Florida, is something of a legend in domain name circles. He began buying domain names back in 1995 when he paid US$100 for lipservice,com and currently has a portfolio boasting some of the best web real estate available, including candy.com, property.com and tradeshows.com. His biggest sale to date has been men.com which went for US$1.3 million in May, 2004 (he paid US$15,000 for it in 1997). His biggest purchase to date was property.com which he bought for US$750,000 in 2005. CNN's purchase of ireport.com to promote its I-Report service that allows viewers to report on news stories as they happen. But despite the hefty price tag, Rick Scwartz believes they got it cheap. "CNN got the deal of the century. $750k was a bargain. The value was close to $7.5M," Rick says on his blog. "For the love of Pete, they pay $750k for a picture of Britney's panties! This may illustrate to the markets and business world that a domain name value is a drop in the bucket when compared to other income producing assets. The very future of ALL business is wrapped up in their domain names. It has been that way for a dozen years and it will be a recession or a crash in 2008 that forces all business to re-evaluate how they do business and why I would make such statements." Interestingly, Schwartz rarely sells a domain name. He prefers to hold them until he gets an offer he can't refuse, cashing in on the traffic that premium domains attract meantime to rake in millions every year. Not bad going for a one man band. 4th February 2008 Comment on this article |
Five Questions to find out what makes an internet entrepreneur tick?  "I believe some people have a little something in their head that makes them look at things in a slightly different way. Some people absolutely cannot envisage doing anything but working for somebody else - and that is fine. However I believe entrepreneurs are born and will always find a way to do things differently." Kieron Donoghue, ukoffer.com Take one internet entrepreneur - for instance Kieron Donoghue (pictured above) - and ask them Five Questions. Also in the Five Questions hot seat this month is Victoria Vanstone of yourdeathwish.com. Why niche websites are like flowers George Marshall reckons that niche websites are like flowers and need to be nurtured just as you would a plant. more |
|
© Internet Entrepreneurs 2008. All rights reserved. Please note the contents of this website are for information purposes only. If you are considering investing time and money into a business venture please seek independent advice. |