14 DAY TRIAL // eBay has been flooded with domains containing the name iPhone a long time before the handset was actually launched. Apple has managed to get its hands on the most important of them all for a seven digit sum which has not been disclosed.
iPhone.com is the most concise and the easiest to remember domain name of all. Michael Kovatch must have paid a small sum when he bought this domain several months ago. Its value skyrocketed along with the interest that people have been showing on the iPhone.
It might have been a considerably good idea coming from Apple to buy this domain a long time ago, even before announcing the future launch of their new device. This is now probably the worst time for them to decide to buy it, as in all this time the domain's value has really boosted.
Michael Kovatch, the previous owner, thought of dropping negotiations and keeping the site until the end. He found great potential in it, ready for being exploited at its max. Actually, he was planning of developing a company on this specific domain. Its potential could have been huge, but he finally decided that it was better worth it just to sell it to Apple and not take the risk.
Michael Kovatch owns several other domains with excellent names for expansion. The iPhone.com one has been actually registered back in 1993. At that time, he thought of the possibility of placing calls over the Internet in the near future and bought the domain with the intention of creating a company which enables this type of services.
It was only a matter of luck to find that Apple has now decided to launch a product with this exact name and instantly make him a millionaire. The seven digit sum that he managed to obtain over the sale is one of the largest ever accounted for until now for a domain name.