It is pretty rare to read about internet and affiliate marketing in the Australian media and even rarer to hear about domains. The Sydney Morning Herald has an article on legendary domainer, Rick Schwartz.

Yet Schwartz rakes in millions of dollars in annual income from his 6000-odd properties and recently sold one for $US750,000 after buying it in 1997 for about $US100.

It sounds too good to be true but Schwartz, the self-appointed “domain king” and full-time trader of internet real estate, says he is shocked more people haven’t tapped into the rivers of gold flowing through the domain name trading business.

“I have a great lifestyle because the dollars come in the same whether I work or not,” Schwartz said in an email interview after selling the domain iReport.com to CNN for $US750,000 this month.

The article carries a quote from Ozdomainer Ed Keay-Smith:

“If you do your research and buy good quality two- or three-word generic domains that are either unregistered or from the domain after market you could sell them later for more than you paid for it to a company that sells a product or service that is related to that name,” Keay-Smith said.