Single Letter Domain Names Bought For Whopping £39 000 At Auction

03 Oct 2011 by Jasmine Stone in Business, Morning Headlines, Real Estate

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In the latest auction by Nominet (a company which runs Britain’s web infrastructure), Facebook, Google and Mercedez Benz were among several big name companies which reportedly bid on single letter web addresses. The auction helped raise £3 million for the Nominet Trust, a charity that promotes safe internet access.

Twelve single letter web addresses were sold for an average of £39 000 each, with Domains like x.co.uk and O.co.uk among the addresses on offer.

If you haven’t yet guessed what address Facebook snapped up, it was fb.co.uk, with Mercedez Benz grabbing mb.co.uk and clothing retailer H&M, hm.co.uk. Unfortunately for Google, the address g.co.uk went to an internet investment firm, which specialises in domain names. As if Google needs it anyway.

One investor purchased 170 potentially lucrative domain names, and in general, buyers displayed a “collectors” mentality. Little wonder then that the batch of domain names were termed “the most significant internet real estate to come on the market ever”.

[Source: telegraph]

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