The gold.co.uk lived up to its name, selling for a record-breaking Â£600,000 it was announced last week. The sale easily eclipsed the sale of cruises.co.uk, which sold for Â£560,000. These are the two biggest reported .uk sales, with the likelihood there have been much larger undisclosed sales.
The domain was bought by British online bullion dealer BullionByPost, founded by Rob Halliday-Stein. Like BullionByPost, gold.co.uk offers investors a range of physical gold and silver bars and coins, but is also aimed at targeting larger investors by offering both insured delivery and secure storage facilities to store gold and silver.
Since the website was launched in August, six 12.5kg ‘Italian Job’-style gold bars each worth Â£300,000 have already been sold, and sales have been buoyant, in part thanks to the increased stock market volatility and uncertainty caused by a weakening Chinese economy.
“Whilst this is a significant amount to pay I strongly believe the domain will prove to be great value over the long term,” said Rob Halliday-Stein. “The Internet is now by far the UK’s most important high street and this prime piece of virtual real estate and strong memorable brand.
It is already showing signs of being a great investment. “The number of web visits following each airing of the new TV advert has smashed our expectations”. Rob attributes this outperformance to the short and easy to remember domain name.
Gold.co.uk was originally registered by one ‘Jack Gold’ before August 1996. Halliday-Stein tried to buy the domain when he launched BullionByPost in 2008 but couldn’t afford the then Â£50,000 asking price. The domain changed hands several times before Halliday-Stein eventually bought it from a domain broker earlier this year.
Birmingham-based BullionByPost was set up by Halliday-Stein with just Â£10,000 and is now the UK’s number one online gold dealer with sales of over Â£100m a year.