DOMAIN NAMES COULD BE WORTH 7 FIGURES.Byline: Jason Z. Cohen cohen or kohen (Hebrew: “priest”) Jewish priest descended from Zadok (a descendant of Aaron), priest at the First Temple of Jerusalem. The biblical priesthood was hereditary and male. Staff Writer UNIVERSAL CITY - What's in a name? More than a million bucks, if you've got the right one. Internet address There are two kinds of addresses that are widely used on the Internet. One is a person's e-mail address, and the other is the address of a Web site, which is known as a URL. Following is an explanation of Internet e-mail addresses only. For more on URLs, see URL and Internet domain name. auctioneer AUCTIONEER, contracts, commerce. A person authorized by law to sell the goods of others at public sale. 2. He is the agent of both parties, the seller and the buyer. 2 Taunt. 38, 209 4 Greenl. R. 1; Chit. Contr. 208. 3. GreatDomains.com has four it believes are worth seven figures. They include Year2000.com, which was put up for sale on the auction site eBay for $10 million but the winning bid turned out to be a hoax Hoax Balloon Hoax, The news story in 1844, reporting the transatlantic crossing of a balloon with eight passengers. [Am. Lit.: The Balloon Hoax in Poe] Piltdown man missing link turned out to be orangutan. [Br. Hist. . The remaining three - Loans.com, Cinema.com and Taxes.com - are being sold in a joint auction that will close Jan. 28, said Jeff Tinsley, chief executive officer of GreatDomains.com. The auction is being billed as the highest aggregate value sale to date of domain names, the electronic addresses to Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the sites. ``This is going to be big. We have a verified ver·i·fy tr.v. ver·i·fied, ver·i·fy·ing, ver·i·fies 1. To prove the truth of by presentation of evidence or testimony; substantiate. 2. offer for loans of $1.3 million and offers of over $1 million for taxes and cinema,'' Tinsley said. ``We've actually received offers in excess of $3 million for loans.com that are in the process of verification.'' The verified bids for taxes and cinema stand at $250,000 each as of Thursday afternoon. Tinsley values the loans.com domain name at or near the price for which his company sold business.com: $7.5 million. He said he believes the larger bidders are holding back until the end of the auction. ``It always happens that way,'' Tinsley said. ``We're not surprised at all at the offers we've gotten.'' Paying six- and seven-figure prices for the right to use a name is increasingly common, said Clay Ryder, vice president and chief analyst for Zona Research, a Redwood City Redwood City, city (1990 pop. 66,072), seat of San Mateo co., W Calif., on San Francisco Bay; inc. 1868. Manufactures include commmunications, electrical, electronic, and medical equipment. , Calif.-based Internet Research This article is about using the Internet for research; for the field of research about the Internet, see Internet studies. Internet research is the practice of using the Internet, especially the World Wide Web, for research. firm. ``The price paid is either absurd or it's not - depending on your point of view,'' Ryder said. ``What they spend advertising them far outstrips the amount of money they pay for the name.'' GreatDomains.com has a strict verification process to protect sellers as well as buyers who are putting up those huge sums of money, Tinsley said. The company's account executives receive the bids, then calls the company or person who submitted them. GreatDomains.com also requires some sort of financial verification as well, Tinsley said. It can be in the form of a bank statement showing that the bidder in fact has the money or it can be a letter of credit from the bidder's bank. ``They have to show us the money. We're not going to take any offers that aren't verified,'' he said. That policy is designed to prevent exactly what happened to Canadian computer consultant Peter DeJager and his partner Tenagra Corp. of Houston. The partners auctioned their domain name, year2000.com, on eBay, but the winning bid and the second-highest bid both were fakes. A bid verification policy such as the one GreatDomains.com has would prevent that problem, Tinsley said. EBay takes a much less active role in managing the transactions on its site than does GreatDomains.com, said Kevin Pursglove, eBay spokesman. ``We use the Internet to allow individuals to conduct their own business,'' Pursglove said. He said eBay offers bid verification service through outside contractors outside contractor n → contratista m/f independiente at an extra charge, in much the same way eBay offers escrow escrow Instrument, such as a deed, money, or property, that constitutes evidence of obligations between two or more parties and is held by a third party. It is delivered by the third party only upon fulfillment of some condition. service. Ryder said sellers who are unfamiliar with the ways of the Internet set themselves up for just such a fall. ``Those who are uneducated in the market in which they're playing are going to lay peril The designated contingency, risk, or hazard against which an insured seeks to protect himself or herself when purchasing a policy of insurance. Among the various types of perils for which insurance coverage is available are fire, theft, illness, and death. PERIL. to those who victimize,'' Ryder said. Pursglove said the vast majority of eBay customers - buyers and sellers - conduct their transactions with no problems. ``Well over 90 percent of the transactions that take place on eBay satisfy the buyer and the seller,'' Pursglove said. ``Here's an example where we had a problem and we had a customer who is not satisfied. We hope to learn from it and if necessary we will have new policies in place to deal with it.'' |
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