Why would any one pay $7200 for KnowYourOptions.org

[Honan]

I don't understand
Dnjournal and other sources report KnowYourOptions.org sold for $7200 on sedo on 14 June
Why would any one pay $7200 for KnowYourOptions.org?
What am I missing here?

 

[draggar]

Did the sale actually go though?

But there are three possible reasons:

1) Someone has a big idea for a big project and probably has a lot of money for promoting the site and development
2) The seller is also the buyer - a sale like that brings attention to the domain (like this thread) and makes the owner look better for getting that much for that domain.
3) There is a sucker born every minute.

 

[katherine]

Was it a website or domain only ?

 

[fab]

Good question!

 

[Johnn]

Every name is unique and the domain name is a funny business.
When you want the name, you want the name (from an end user's point of view).

I paid under $299 for a 3 characters dot com (2 letters and one number). I sold the name for $2K as they say they like the name very much (on the phone).
There are instances where I was about to let the name expire but got some high offers and I have to spend $8 to renew in order to sell for high $xxx.

When you buy a car or a light bulb, you can pick and chose different options but when you want the name - you want the name.

 

[acronym007]

I ask myself this same question every week in this business.

 

[copper]

Every name is unique and the domain name is a funny business.
When you want the name, you want the name (from an end user's point of view).

I paid under $299 for a 3 characters dot com (2 letters and one number). I sold the name for $2K as they say they like the name very much (on the phone).
There are instances where I was about to let the name expire but got some high offers and I have to spend $8 to renew in order to sell for high $xxx.

When you buy a car or a light bulb, you can pick and chose different options but when you want the name - you want the name.

Agreed.

I once sold LLLLL.com for 5K (initial offer was $150).
It's not pronounceable and seemingly random alphabets.
Except it meant exactly same thing to me and the BUYER.

You'll get top price when...
You don't offer your price first. Let the buyer make offer first.
Convince the buyer that you are not eager to sell as you have plan for it.
Simply say "no thanks. I am sure you'll find alternate domain", if buyer's offer is not good enough.
Buyer MUST have it.

 

[Dirty SEO]

The reason for this now seems apparent

 

[Poohnix]

I didn't think Fannie Mae had any money to spend on domains...