A domain name is just a website address (eg. ‘mysite.org’ or ‘mysite.co.uk’) and there are lots of extensions (.in,.com, .net, .co.uk etc).
They cost as little as £1.99 to register with 123-reg.co.uk or GoDaddy.comyet premium domain names can fetch £1,000s if not millions when sold on. In 2007 VacationRentals.com went for a cool $35m!
Now you’re probably not going to come across anything like that, but you can still turn a quick profit with a bit of searching. The trick is to find available domain names which have some commercial value, snap them up and then list them for sale on a site like Sedo.com.
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