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question Is Domain Flipping legal?

This is a general or domain name related question.
Everything which isn't illegal is legal.
Flipping domains is NOT illegal. It's just some form of commerce, after all.
(trademark legal problems aside, as mentioned above)
 
It's the same concept at flipping real estate. Buy a piece of land, wait for the value to go up, and resell it for a higher price than you paid for it. So, the concept is not illegal at all. The same could be said for:

flipping antiques
flipping cars
flipping real estate
flipping businesses
flipping baseball cards
 
It also depends on the rules for the extension. Some like .au require you to have a close and substantial connection to the domain.
 
Domain flipping is legal, but you can get in trouble if you own a domain with a trademark. I found this article about avoiding domain trademark infringement useful.

 
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