How come .cm price so high?

In August 2006, it was reported that the .cm registry had set up a wildcard DNS record, so that all unregistered domains in this top-level domain go to a parking page with paid search links. This was likely intended to take advantage of typographical errors by users attempting to reach .com web sites.[1]

Recent auctions of .cm domains have skyrocketed as high as $81,000 for what pitchmen have termed "prime real estate".[2] However, some bloggers have noted that nothing of any real value was actually put up for auction, despite the price war.[3] Namejet.com the official auction site for the .CM domain registrar Netcom.cm sold over $500,000 in .cm domain names the first day and over $2 million in the first week. [4]

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