'Phelpsean' bid for gold

2008-08-23 11:13

Beijing - Online traders are racing to cash in on the Beijing Olympics by selling items related to gold medal winners, ranging from a $1m price tag on the domain name "Phelpsean" to $4 000 for five pairs of basketballers' shoes.

US swimmer Michael Phelps, who won eight gold medals at Beijing making him the most successful Olympian ever, was the hottest target for dealers on internet auction sites.

Karen Bard, a spokesperson for eBay, said the number of items related to 23-year-old Phelps had soared 738% in the past 30 days.

"One of the highest priced sold items was an autographed Olympic Speedo swim cap from a special appearance he did in Baltimore in 2004. It sold for $645," she told Reuters via e-mail.

She said 19 755 Olympic items had been sold in the past 90 days with the top price of $6 000 paid for a ticket to the Olympics opening ceremony in the Bird's Nest stadium on August 8.

Ahead of the Games ending on Sunday, the most expensive item on offer related to Phelps was the sale of all domains - such as .com, .org, .us, .info, .tv, .mobi - for the word "Phelpsean."

Seller Wolfram Gauglitz, a corporate consultant from Dallas, Texas, said he derived the word from Herculean and suggested it meant having enormous strength, courage, or size of or pertaining to Michael Phelps or his incredible accomplishments.

"Since Hercules is the Greek ideal for strength and courage, and was said to have founded the Olympic games to honour Zeus, 'Phelpsean' was a no-brainer," said Gauglitz who snapped up the domain names on the day Phelps won his eighth gold.

"Do I think phelpsean.com will fetch $1m? I think it's worth far more than $1m to someone out there."

Bard wasn't so sure but the sale was valid under eBay rules.

"As far as the URL in question, it is not in violation of our policies. However, it is certainly a very steep price for someone to potentially pay," she said.

- Reuters