That is amazing. I am normally skeptical of generic names, but I think in this case there may be some real value as people might just type in diamond.com. I was never a fan of something like business.com becasuse I think it is of little value over making your own brand.

Diamond.com sells for 7.5 million

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What is in a NAME?

Oh my! This is incredible. Just goes to show that diamonds (and jewelry for that matter) are big business and profitable even online. Thanks for posting.

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Green Diva

But on a business point of view, how can you justify paying 7 million dollars for diamond.com; I mean couldn't a great alternative be found instead such as... MyDiamond.com of something of the like...

That has always been my contention. If you look at the most popular sites on the web, google, yahoo, msn, myspace, none of them are generic single words. So building your own brand outweighs a single word. I don't know how many people go "wow I need some diamond information let me go to www.diamond.com". I think it is a prestige thing.
I agree with you, I would make my own domain, and spend one million dollars branding it, and I would probably have a more succesful site than 7.5 million dollars for Diamond.com

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What is in a NAME?

I think domain value is in the eye of the beholder. Personally I wouldn't pay more then a few thousand for any domain name. It's just not that big of deal anymore, if you spend half of that 7.5 mil on SEO services, and Google ad's you'd be the most trafficed site on the net.

I think sites like diamond.com, rock.com and fashion.com would sell for a lot of money. Generally speaking I think names like that would generally sell for a lot of money. Except for poetry.com<-- that's a scam site for unsuspecting beginning poets to lose their money and think they gained notoriety when they haven't

Is it true? I can not believe it.

If DeBeers is behind the purchase, they have more money than you can imagine to spend on whatever they like. My problem with the diamond trade is that even though DeBeers and other large international dealers claim they do not buy from gorillas and rebels in Africa, in fact, there is no way they can know who they are actually purchasing from since the diamonds go through so many channels before they reach the more reputable dealers. At the of death and dismemberment, diamonds are not worth the investment in my mind. So they can have the domain name!

That is a lot of money for a domain name. Even though diamond.com is a pretty good name. I wish I registered a lot of good domain names 12 years ago then resold them today.

I agree with that. Although for a huge company, I suppose the tax write-off would be a consideration, too.