Domain name on auction is expected to go for millions

 
Domain name on auction is expected to go for millions
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Ever since 1996, André Eidskrem from Norway has owned the domain by.com.

Now it will be sold at an auction - for a steep price - millions.

- By.com will in any case be sold for a million dollars amount. It is very gratifying, says Eidskrem to VG.

The auction will be held on 11 January and the preliminary bid is $600,000, ie 5 million Norwegian kroner. But this is below the minimum threshold, which is currently a secret sum.

The Norwegian IT entrepreneur bought the domain in 1996, for $5,000.

To TheDomains.com, Eidskrem says that he has previously received a bid of nearly $1.5 million, ie around NOK 13 million at the current exchange rate, but the domain has not been for sale until now.

Eidskrem is selling the domain to raise money for the IT firm he heads, which will soon launch an international mobile platform for Cisco.

The current bid for by.com, however, is far from reaching the sum paid for the most valuable domain name sold until now:

Insurance.com was sold for $35.6 million in 2010.

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