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A British entrepreneur has paid £600,000 for a web domain name – the largest sum ever spent in the UK.
‘Gold.co.uk’ was bought by British online bullion dealer BullionByPost, founded by Rob Halliday-Stein, and will offer investors a range of physical gold, silver bars and coins along with insured delivery and secure storage facilities.
The purchase beats the previous most expensive UK domain name – Cruise.co.uk – by £40,000.
Halliday-Stein said: “Whilst this is a significant amount to pay I strongly believe the domain will prove to be great value over the long term.
“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 is already showing signs of being a great investment.”
Halliday-Stein tried to buy Gold.co.uk when he launched BullionByPost in 2008 but couldn’t afford the £50,000 asking price. He eventually bought it from a domain broker.
Whilst the domain is believed to be the most expensive UK domain of all-time, it is still a relatively small amount compared to America’s most expensive. In 2010 insurance.com was sold for $35.6m (£23.2m).
