Domain king’s rivers of gold

The Sydney Morning Herald and Age (Melbourne) newspapers profile Rick Schwartz giving publicity to domaining. The article gives a lot of prominence to the few hours of work Rick actually does for his “millions of dollars in annual income from his 6000-odd properties.”Rick says he is shocked more people have not got into buying and selling domain names, or the rivers of gold flowing through domaining. “I have a great lifestyle because the dollars come in the same whether I work or not,” Schwartz told the newspapers in an email interview that came about after selling to CNN for $US750,000 this month.Describing his day, he says “So I only work when I see opportunity. My most productive time is in the morning from about 5.30am to 9.30am with a break just for breakfast. Then off to a nice lunch. Then usually some type of leisure activity. Then a couple of hours to relax. Then dinner. Then watch some nightly TV and off to bed.”Rick has around 6,000 domain names in his portfolio, but has sold fewer than ten domain names to date for a total of around $US3million, including US$1.3million for in 2004. He names his smartest acquisition as, which has related advertising, acquired for $42,000 in 1997, and now earns him more than $1million annually. Rick estimates he has spent $5million so far acquiring domain names.There is also mention of the local Dark Blue Sea that owns around 400,000 domain names, a company listed on the Australian Stock Exchange and rarely sells its domain names, rather builds websites to suit their domains.Caution is given though as people such as Rick, and the Cayman Island-based Frank Schilling, got in early. Andrew Alleman of Domain Name Wire says “It’s hard work mixed with a bit of luck.” Schilling is reported as having a portfolio of around 300,000 domain names that earn him $20million annually.To read the entire report in the Sydney Morning Herald or The Age, see or