Domain Worth £10,000 Sold By Mistake For £7

A man bought a domain name worth $15,000 (£9,900) for just $10.99 (£7.25) - after a website glitch gave him the in-demand address by mistake.

Bruce Marler was inspired to try to purchase credit.club after hearing about the recent sale of wine.club for $140,000 (£92,482).

He should have been charged thousands for the address - potentially useful to financial firms - but instead managed to check out the name for a few dollars.

He then created a website on the Wordpress platform and registered the corresponding Twitter (Xetra: A1W6XZ - news) handle.

The company that runs all dot-club domain names, .Club Domains, said that the sale was an error on its part and that several premium domain names were wrongly listed as available for the low fee for 24 hours. The mistake has now been corrected.

It says it is within its rights to rescind the registration and cancel the purchase, but chief executive Colin Campbell said the company would honour the deal.

In a statement he said: "The registry does not believe it is in our best interest nor the best interest of the registrant to pull the name back given the substantial investment in time and money he has invested to launch credit.club.

"I informed the registrant of such matters and wish him a continued success."

Mr Marler says he eventually wants to cash in on the domain name.

Speaking to the Domain Gang website, Mr Marler said: "My intent is to sell the domain, eventually.

"This domain is as good as any finance-related .club domain that exists.

"If the site grows in revenue the site can be considered a business venture, but at this point it's a domain investment."