RealTime IT News

Domain Sell Stands to Set New Record

Just months after business.com fetched $7.5 million, a new record has been set for the sale of a domain name.

Canadian computer consultants Peter de Jager and Cliff Kurtzman stand to receive $10 million for the domain "year2000.com" which was sold over the weekend by online auctioneer eBay Inc. (EBAY).

eBay has not identified the buyer, although it did say 13 offers had been submitted by the close of bidding at 1 p.m. Eastern on Saturday. eBay said the purchase will not be finalized for three business days. The company estimates it will take a couple of days to determine if the bid is legitimate.

The site currently using that domain will be moved once the sale is a done deal, the consultants said. It is currently being used for a site containing detailed information on the millennium bug. The bug, which was widely expected to cause problems across computer networks, has so far had a much smaller effect than initially expected. However, experts are still cautioning that glitches could be uncovered since most businesses are just now resuming normal operations.

The pair said they sold the domain name because they believe it can be put to better use now that the critical date has passed.

The previous $7.5 million record was established after eCompanies, established when EarthLink Network Inc. (ELNK) founder Sky Dayton and former Disney Internet executive Jake Winebaum bought business.com.