The first major dot-biz domain name hits the auction block. The sky is the limit.

The incredible prices given for the dot-com domain names reached over $1,000,000. Now the dot-biz names are starting to hit the auctions. Here we go again!

The world was astonished at the prices going to highly sought after dot-com domain names: Drugs.com $823,000, Loans.com $3,000,000, ForSaleByOwner.com $835,000, Cinema.com $700,000. The domain extension .com" (which stands for commercial) brought in the most money because it was the most sought after category of the top level domain extensions. The introduction of the new extension .biz" may change all of that. Dot-biz (which stands for business) is the new global top level domain extension.

PeoplesPharmacy.biz is set to be listed on the popular auction site Ebay on February 25, 2002. Alfred V. Scillitani, President and CEO of Basicinvest L.L.C., the current owner of the domain, stated that they will start the bidding at $15,000 so that it is within reach of all interested parties.

The domain is sought after by drugstores, pharmaceutical companies, health and herbal companies, drug/health information companies, and entrepreneurs wanting to create affiliate drugstore web sites.

The 10 day auction will end on March 7. Will a new record be set? Well see.