WhatIsMyIP.com sells for $386,000

I saw the auction a couple of days ago and was equally perplexed.

Can someone explain why it might be worth 368,000? (or indeed 57,000, as it was when I saw it) The site isn't currently geared towards advertising, but even if it were, would people needing to know their IP really need contextual ads or otherwise? where's their incentive to click?

It made me want to set up my own IP site though ;)

I don't see ANY value in the site - I can't see why it even gets the traffic it does. No assets other than the domain and "brand" recognition from what I can see? What are people doing where they need to know their IP, perhaps that is where the value is?

I'd part with $5,000 but not too much more.
Talk about presure for the buyer - 60,000 views on ebay suggest that they can expect a lot of feedback on their business model

in terms of direct connecting to others mainly. (think games, messaging, skype phone(?) and so on) But really, even well developed, I'm struggling to see how adverts could pay off anything in the realm of the final price, and its not something that could become a subscription or micro-payment model; I'm sure we'll see during the next six months, though.

Its more baffling still, given I saw a couple of good 3 letter domains (workable acronyms) got for less than $1.5K recently. Sure, they weren't publicised on blogs and whatnot, but I don't think many bloggers were in on the bidding here either.

All I can say is wow.

It'll be back on the market soon :)

Seems weird that it jumps up $126,000 for the final bid??

Is this not a wind up??

Here's wow: the site had a buy it now of $7,000.