The business of buying and selling internet domains

Buying domains is always controversial because it's gone from simply being a website name to becoming a big business. For many people, it represents a perfect way to make a lot of money quickly, but you need to know how and when.

Throughout history, there have been exorbitant domain name purchases that have cost a fortune, such as:

• Whisky.com; In 1999 Michael Castello, a clear visionary, bought this domain inspired by the "Whisky a Go Go" club for a modest price, which he later bought back for $3.1 million.
• Mi.com; This domain was purchased at auction by the Xiaomi brand for $3.7 million, thus giving birth to the Mi brand, which now encompasses everything from smartphones to headphones.
• Zappos.com, an online clothing retailer, paid $4.9 million to acquire this domain. Amazon later bought Zappos.
• Toys.com; Sedo, a British domain seller, owned this domain, which was sold to ToysRus for $5.1 million, although to this day this domain does not redirect to the official ToysRUs website.
• Porno.com; Rick Schwartz, the domain king, bought this domain for $42,000, which was later sold to a company in Prague for $8,888,888.

And these are the 25 most expensive domains in history:

Insurance.com / 35.6 million (2010)

VacationRentals.com / 35 million (2007)

PrivateJet.com / 30.18 million (2012)

Internet.com / 18 million (2009)

360.com / 17 million (2015)

Insure.com / 16 million (2009)

Sex.com / 13 million (2010)

Hotels.com / 11 million (2001)

Fund.com / 9.9 million (2008)

Porn.com / 9.5 million (2007)

Porno.com / 8.8 million (2015)

Fb.com / 8.5 million (2010)

Business.com / 7.5 million (1999)

Diamond.com / 7.5 million (2006)

Beer.com / 7 million (2004)

iCloud.com / 6 million (2011)

Israel.com / 5.8 million (2008)

Casino.com / 5.5 million (2003)

Slots.com / 5.5 million (2010)

Toys.com / 5.1 million (2009)

AsSeenOnTv.com / 5.1 million (2009)

Clothes.com / 4.9 million (2008)

Medicare.com / 4.8 million (2014)

IG.com / 4.6 million (2013)

Marijuana.com / 4.2 million (2013)

In this article, we've seen the importance of your website's name and how quickly you buy it can affect its success. When creating a domain, it's crucial to choose one that conveys your message or keyword. It's also wise to buy the same name in .com, .es, and any other domains you might want to own, before someone faster than you makes you pay a fortune to get it.