Panama City, Panama (PRWEB) September 17, 2006
Web Management S.A., an Internet domain investment and development company located in the Republic of Panama, is auctioning off the domain name Saddam.com on eBay this month.
The company had acquired Saddam.com only a few weeks ago with plans to hold the domain name as a long-term investment. Large numbers of unsolicited offers from around the world prompted the decision to auction off the domain on eBay.
Web Management acknowledges the inherent controversy in selling a domain name associated with former Iraqi president Saddam Hussein, who is currently on trial on genocide charges. The company believes, however, that the domain name will be a valuable brand for the right buyer.
"We are not concerned about Saddam.com ending up in the wrong hands or being used for malicious purposes," said Martin Milagros, Web Management's vice president of marketing. "According to eBay rules, the buyer cannot be on the U.S. Treasury's Office of Foreign Assets Control (OFAC) list or from any country that is under embargo by the U.S. We have little concern about this sale, as negative international forces are not likely to recognize the power of Internet domain names."
Instead, Milagros believes the ideal buyer will be a movie studio or production company planning a creative project based on Saddam's life. "Saddam.com will give any product or service attached to it instant recognition, credibility and memorability," he said. "Saddam will always be remembered by generations who were taught to fear him as a powerful and evil adversary."
According to the company, there is no record that Saddam.com has ever been used for an active Web site. Web Management sees this as a substantial benefit to the buyer, because without any "history" the domain name can be developed by anyone to brand a new product or service. After only one day bidding had already reached $2,751. Web Management expects that number to jump to a five-figure buying price by the time the auction concludes on September 20.
Domain name investing began in the early days of the Internet, when individuals bought domains they thought would be in demand in the future, then sold them later, sometimes at a substantial profit. Last year Newsweek reported on a new surge of investment companies focused on buying and selling Internet domain names.
The Saddam.com eBay auction can be accessed at http://www.saddam.com
Web Management S.A. is a domain investment and Web site development company located in Panama that buys, holds, develops and sells domains.