Domain Name Sells For $2.6 Million

April 6, 2008 10:33 a.m. EST

Potomac, MD (AHN) - An American man sold a domain name to an anonymous bidder for a whopping $2.6 million, after maintaining the website since 1994, paying only $20 annually.

The previous owner, 43-year old Chris Clark, said that the domain name, pizza.com, was put up for an auction that lasted an entire week, before the buyer was awarded purchase.

Clark purchased the domain for $20, and turned it into a directory for pizza deliveries. It had reportedly brought in a small profit over the years, and up to this day, according to Inquirer reports.

Despite the constant maintenance he put in for the website, Clark decided to attempt to sell the domain after hearing about a man whose own domain, vodka.com, was bought for $3 million.

"I thought, 'Why don't I just try to see what the level of interest is?" said Clark, as quoted by the BBC. "If someone's willing to pay that much for Vodka.com, maybe there's more interest in pizza.com."

In retrospect, Clark expressed frustration and regret for not having bought more domain names in 1994, the start of the Internet boom.

His auction for the domain name began on March 27, with the first bid being $100.