Recycle.co.uk Becomes the Highest Value for a .co.uk Internet Domain Name

Sedo has sold the recycle.co.uk domain name has sold for GBP150,000. It is the highest figure paid for a co.uk internet domain name and breaks the last recorded value by GBP40,000 which was set by J Sainsbury plc when it purchased taste.co.uk for GBP110,000 in 1997.

The Internet domain name, recycle.co.uk, was bought by ASAP Ventures, a venture capital company.

ASAP Ventures will use the Internet domain name to fund a business which will provide UK customers with information on recycling services.

After the sale of recycle.co.uk, Sedo oversaw the sale of mobile.co.uk for GBP120,000.

The sale of mobile.co.uk was completed at Sedo's live auction event for Internet domain names and was the first of its kind to be held in the UK.

Over GBP350,000 was generated in the sale of co.uk secondary Internet domain names.

Nora Nanayakkara, UK operations director, Sedo, commented: "We are seeing a growing interest in the purchase of co.uk Internet domain names in the secondary market. Over six million co.uk Internet domain names are already registered and there is a shortage of available quality names. This is driving the sale of high value generic names, such as recycle.co.uk and mobile.co.uk."

"However, organisations are becoming increasingly aware of the benefits in owning a generic Internet domain name which is easy for the customer to find and remember. As well as strengthening a company's online brand and supporting marketing campaigns, a generic Internet domain name generates a natural flow of traffic to a company's website. Investing in a premium co.uk Internet domain name is vital for a business. Sedo's online marketplace enables organisations to do this easily."

In the past year, the total volume of co.uk Internet domain name sales in the secondary market has grown by 30 per cent to over GBP1.5 million.

According to DNJournal, the Internet domain industry magazine, Sedo accounted for approximately 84 per cent of co.uk transactions in 2006.