What's a Domain Name Really Worth?

There’s been a few stories and comments recently in the media regarding AFL (Australian Football League) players from seasons past having the cost of their own personal domain name added as a separate amount to their yearly payments, thus avoiding salary cap issues. 

If they were purchasing their domain names from a standard supplier, that may not sound like a significant amount of money, under $100 at worst, right?

Well, it appears some of their managers got very creative with their accounts and some ended up receiving six-figure sums, that’s right, not hundreds, not thousands but hundreds of thousands of dollars for a registered domain name, which would then be onsold to their respective clubs.

Of course, it was the early days of the internet and at that time the laws of IP and fair internet trading was still a few years away. 

We have heard similar stories of extreme amounts being paid for domain names from other well-known brands and celebrities in the past. 

Can this happen to you and your business?

Yes, of course, most businesses we talk have received what looks like legitimate invoices or emails for their domain name renewal or registration but on closer inspection or talking to us they find that in fact, it is a similar version of their domain.

For example, if their actual domain is mydomain.com.au the invoice will be mydomain.mybiz.au or similar.

These type of scams can ask you for hundreds of dollars for your domain name, so the next time you receive something for your domain name be sure to look at it twice before paying it! 

Also when looking at registering a new domain name be sure to use an authorised domain name look-up service.

Some sites will make you create an account prior to your search and if you don’t purchase the name straight away you would receive an email within a few days saying that it had now been registered by someone else but they were willing to sell it to you for big $$$$!

If you would like to discuss your domain requirements or have any questions regarding what’s a domain name really cost, please feel free to contact us now.