USD 20 Domain Name Sold for USD 2.605 Million.
Chris Clark, a Queens-born entrepreneur bought the Web domain for $20 in 1994 which he never imagined would be his meal ticket. The domain name got auctioned at a saucy $2.605 million. Cannot imagine it? Neither did Chris Clark when he bought it, till it happened 14 years after buying the domain. It sounds easy but it isn’t as easy. Want to know how was a USD 20 domain name sold for USD 2.605 million? Let’s dive right in and find out his story of success, insight and luck.
Chris Clark Story Of Picking Domain Name
Chris Clark grew up in Floral Park. Back in 1994, when people were very unsure about what the internet was, or what it was supposed to do, the 29-years old Chris ran a website consulting service. He picked up the domain-name Pizza.com for twenty dollars to attract the attention of pizza companies for his consultancy business. Clark knew the domain has some good value and thought it would be a good investment but seemed more like a gamble. He couldn’t find any takers for the domain so he started website as a pizzeria directory. Later, he, along with a friend, turned it into an advertising and pizza directory and continued to maintain the pizzeria directory ever since.
Story Of Auction
Selling the domain wasn’t something that Clark has planned when he bought the domain. In early 2008, Clark and his friend heard about the fortuitous sale of Vodka.com. They then decided to try their own luck with Pizza.com. To their surprise by March 29, the bidding hit $2 million, and even more, bids were coming in. Irrespective of the worth that Chris Clark imagined the domain might have at the time of purchase, he did not imagine the domain to fetch such gains.
The auction price skyrocketed from $100 on March 27 to $2,605,000 by closing at 2PM due to the 24 bidders. The bidders competed furiously against each other to own the sought after domain. All the bidders remained anonymous as per the policy of domain-name auctioneer Sedo.com.
The payout was nowhere near the $350 million paydays Business.com saw last year, however, Clark said he was happy with the payout. “It’s crazy, it’s just crazy,” said Clark after the auction closed. “It will make a significant difference in my life, for sure.”
It may sound like an easy win but you must try and imagine the effort, time and money it took to maintain the domain name for 14 years. Once you understand that, you’ll realize that it was a well deserved one. Clark and his family celebrated the only way that seemed appropriate – with a pizza party. Do not forget to enjoy other posts in our ‘Quick Reads Section‘.
