Owen School student makes fortune selling web address

[Wed 10:30 a.m. Jul 26]-A year after paying less than $5,000 for www.act.com, Jeremy Padawer - a Vanderbilt student and domain name consultant - just sold the generic listing for a whoppinghalf

half a million dollars. The buyer: Interact Commerce Corp. (IACT), a Scottsdale, Ariz. company that purchased the ACT! contact manager software product from Symantec Corp. (SYMC) in December.

Third-party domain name broker GreatDomains.com handled the sale in return for 10% of the proceeds.

"The timing of the sale had a lot to do with GreatDomains really pushing the name over the last month and a half," Mr. Padawer said.

He said that the e-commerce and domain-name markets have changed a lot in the past year.

"At this point you're seeing consolidation, and only the people who provide the really good products and services will get funded and be the survivors."

"People have learned that it takes more than putting up a site to succeed on the 'Net."

Not that he's tossing in the towel altogether on the prospects for selling domain names. He still owns numerous generic addresses, such as litigants.com, uninsured.com and faithful.com.

"None of these has the punch that act.com has, but I think they'll most likely be sold in the $35,000-$65,000 range."

Mr. Padawer is an attorney and an expert who has appraised more than 1.500 domain names.

Editor's note: To read a longer article about his advice regarding domain names, go to the NashvillePost.com archives, type in "padawer" in the left column and read his "Guest Guru" column from earlier in the year.