New York Times: Coins in the New Realm

[WeBuyThe.Com]

With all the YHOO/MSFT chat some may have missed this HUGE story featured in the business section on page 4 in the New York Times today!!

Coins in the New Realm
By BRAD STONE

Published: February 1, 2008

HOLLYWOOD — Xavier Buck planned to spend $100,000 to bid for domain names, those parcels of virtual Internet real estate, at a live auction here last week.

An auction of Internet domain names on Jan. 22 at a Hollywood hotel. The business has been shedding its negative image. The practice is starting to draw the interest of private equity firms.
He blew past his limit in less than an hour.
READ ON BOYS

 

[lordbyroniv]

"By the time the three-hour auction had ended, Mr. Buck, the chief executive of the Luxembourg-based company EuroDNS, had spent $150,000 for 15 appealingly generic names, including 7th.com, chaptereleven.com, microfinancing.com and computersystems.com."

I like that line

I cant help but think that quality generic domains are the best real estate on the planet - a quality generic for a hot industry is worth its weight in gold