I know many of you have no interest in .CM domains, however everyone should be impressed by the amount of money in the domain channel, now that the 1st weeks total for the .cm auctions have been tallied.

According to NameJet.com, 2,000 .CM domains were auctioned by NameJet.com, at an average price of $625, for a total of $1,250,000 in auction fees.

In addition, for each domain won at auction, registrants had to spend an additional $350 for a two year registration which totals another $750,000.

So your looking at domainers spending $2 Million dollars in one week on an unproven, highly speculative extension.

The good news for all domainers, as it shows there is PLENTY of money out there ready to invest in domains.

More good news is this was not just one big sale involving one buyer and seller, but rather multiple bidders, showing there is a lot of people willing to spend money on what they perceive to be a good domain at a reasonable price.

This hopefully will translate into big sales at the TRAFFIC auctions in October In New York.

One Interesting note about these .cm auctions. In the event the high bidder refused to pay for the domain, NameJet.com has been awarding the domain to the second highest bidder, rather than re-auctioning the domains. This is what many have been suggesting for some time for general namejet.com auctions.

Next up:

Another 6 days of .CM auctions, with another 2,500 domains, starting Tuesday.

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