Chinese domain name sells for $160,000
Updated: 2006-08-20 09:47 A sale of Chinese Internet
domain names netted more than $160,000 on Friday in what organisers said was the
biggest such auction yet in the computer-crazy country.
A pair of sites named for ultra-mobile personal computing (umpc.cn and
umpc.com.cn), one of the hottest technologies around, fetched an eye-popping
390,000 yuan ($49,000).
Generic domain names including art.com.cn and book.com.cn sold well above
their reserve prices, while caipiao.com -- "caipiao" means lottery ticket in
Chinese -- fetched 37,000 yuan.
"I think today was a definite step forward in this market," said Ranger Wang,
who organized the auction in a Beijing hotel and was the seller of the "umpc"
The prices fetched were far from the giddy sums that change hands in the
West. Five of the 12 names up for auction failed to attract a bid. But Wang said
the sale total of 1.3 million yuan was, as far as he knew, a record for China.
"Before this, domain name
auctions were very small affairs and were never really successful," Wang said after
"I haven't had a chance to really do the maths, but I think today's result
was quite satisfying," he said.
Not entirely satisfying. "I take it the technology is a
bit outdated now?" the auctioneer quipped as his pleas for a bid for dvd.com.cn
fell on deaf ears.