A man has managed to buy a premium domain, worth £9,900 ($15,000) for £7.25 ($10.99), after the company selling the domain wrongfully priced it by error.
Bruce Marler is the man who bought the domain credit.club, after hearing that wine.club was sold for £92,482 ($140,000). After confirming the purchase, he created a Wordpress site and registered a Twitter handle.
The company that runs all dot-club domain names, .Club Domains, said that the sale was an error and that a number of premium sites were wrongly listed as available for the low fee for 24 hours.
Even though the company has the right to cancel the registration and the purchase, CEO Colin Campbell said the company will honour the deal.
"The registry does not believe it is in our best interest nor the best interest of the registrant to pull the name back given the substantial investment in time and money he has invested to launch credit.club. I informed the registrant of such matters and wish him a continued success”, he said in a statement.
Mr Marler says he eventually wants to cash in on the domain name.
Speaking to the Domain Gang website, Mr Marler said: "My intent is to sell the domain, eventually.
"This domain is as good as any finance-related .club domain that exists. If the site grows in revenue the site can be considered a business venture, but at this point it's a domain investment."