The hard working staff of thousands here at Beep Beep headquarters have been told that the people selling
VIP.ae are looking for Dh7 million ($1.9 million). They have already turned down multi-million dirham offers, apparently deeming them too low.
A site like VIP.ae (and
horse.ae, which was bought for Dh6 million a couple of weeks ago) is unlikely to be bought for commercial reasons, and I can't imagine many dotcom startups having room in their business model for a seven million dirham domain name.
This is at the nexus of pure vanity purchases and vaguely sound business sense, based on a never-ending vanity bubble,
much like the multi-million dollar sales of "premium" license plate numbers. Let us all take a moment to bask in the glory of a bubble whose fundamentals are far stronger than speculative property investment: people with money will always love spending it on silly things, and for that we can all be thankful.
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