The domain contests.com sold for a whopping £231,870 ($380,000 USD) at auction late yesterday. Starting off at £91,528 ($150,000 USD), the name sold after receiving fifteen bids from three bidders.
What’s interesting about this sale is not the domain, but the owner: Yahoo. Fortune 500 companies do not typically participate in such auctions, but in this case, Yahoo found a good way to reach its target market. The alternative- using it attorneys to broker a sale to another company- probably would have cost the company more in the long run.
Yahoo acquired the name some time ago when it bought Broadcast.com, a web radio provider, in 1999. The name has never been developed.