Released on: 15, September 2006
, Author: Web Management S.A.
, Audience: Internet related
PANAMA CITY, PANAMA (September 15, 2006) - Web Management S.A.,an Internet domain investment and development company located in the Republic ofPanama, is auctioning off the domain name Saddam.com on eBay this month.
The company had acquired Saddam.com only a few weeks ago with plans to hold thedomain name as a long-term investment. Large numbers of unsolicited offers fromaround the world prompted the decision to auction off the domain on eBay.
Web Management acknowledges the inherent controversy in selling a domain nameassociated with former Iraqi president Saddam Hussein, who is currently on trial ongenocide charges. The company believes, however, that the domain name will be avaluable brand for the right buyer.
"We are not concerned about Saddam.com ending up in the wrong hands or being usedfor malicious purposes," said Martin Milagros, Web Management's vice president ofmarketing. "According to eBay rules, the buyer cannot be on the U.S. Treasury'sOffice of Foreign Assets Control (OFAC) list or from any country that is underembargo by the U.S. We have little concern about this sale, as negativeinternational forces are not likely to recognize the power of Internet domainnames."
Instead, Milagros believes the ideal buyer will be a movie studio or productioncompany planning a creative project based on Saddam's life. "Saddam.com will giveany product or service attached to it instant recognition, credibility andmemorability," he said. "Saddam will always be remembered by generations who weretaught to fear him as a powerful and evil adversary."
According to the company, there is no record that Saddam.com has ever been used foran active Web site. Web Management sees this as a substantial benefit to the buyer,because without any "history" the domain name can be developed by anyone to brand anew product or service. After only one day bidding had already reached $2,751. WebManagement expects that number to jump to a five-figure buying price by the time theauction concludes on September 20.
Domain name investing began in the early days of the Internet, when individualsbought domains they thought would be in demand in the future, then sold them later,sometimes at a substantial profit. Last year Newsweek reported on a new surge ofinvestment companies focused on buying and selling Internet domain names.
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The Saddam.com eBay auction can be accessed at http://www.saddam.com
Web Management S.A. is a domain investment and Web site development company locatedin Panama that buys, holds, develops and sells domains.
Source: Express-Press-Release.com
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