One of the most sort after Domain Names in Australia has been purchased for a record fee of AU$125,000, the equivalent to £82,107. This is the highest fee that anyone has parted with for a web address in Australia.

The website www.investmentproperty.com.au was subject of a bidding war after there were a number of interested parties. This undoubtedly was a major factor in attracting such a large price.

Mark Mendel of Find Investment Property said: ‘I don’t think businesses realise the value of certain domain names.’

Mr Mendel also went on to state that he believed it was a unique situation to find a person that is positioned within a business, but also understands the value of a Domain Name.

It is believed that the website was purchased as a long term investment, as it is felt that if it was sold in the next 12-18 months then it would struggle to realise the value paid for it now.

Companies have also been purchasing domain names with the .xxx ending. This is to protect their companies when the new registration becomes live.