A group of investors just bought AreaRugs.com for a whopping £249,423 ($405,000 USD). They will use the domain to create an online store specializing in– you guessed it– area rugs.

Justifying the purchase, Lee Weber, Head of Marketing at the newly created AreaRugs.com, Inc said:

It is very rare to have the opportunity to buy a premium ‘.com’ domain name in a proven online consumer category. In economic times like this you have to think outside the box for ways to get the most out of money and our investors feel that we should have no problem getting a decent, if not exceptional, return out of this investment.

Given not only the current economic situation, but also the tough housing market, AreaRugs.com is taking quite a gamble. In my opinion the name is worth far less than $405,000. The seller is lucky he found an end-user willing to pay so much for it.

Source | The Domains
Photo | Flickr

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