Flipping of the year?

Last week was sold on Namejet for a stunning $555,050. While polls have started on leading domaining sites whether it is too high or too low, we got the answer earlier than asked. It turned out that it was just sold at the same time in a synchronized auction by a Chinese domain brokerage company¬† for $1.13mm. So that guys made $500k profit immediately without risking their own money and without investing in the name. Amazing! It’s time to start learning Chinese for domainers.

The domain is currently set to park at Godaddy. I don’t see the numbers but can expect that it earns some cents a day. Of course developing a website that is good enough for a domain like this takes time, so parking should not be its final fate. I am very excited to see what is the future for this domain: Development? Always difficult. Resell? Will be hard to find someone who pays even more. Parking? Investment will never come back. I still vote for development.

UPDATE: is for sale with a $4,540,909 price tag.

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