Domain Squatting

I haven't posted for awhile. I've been somewhat backed up at work after taking nearly two weeks off. I've been saving this post for a few days now, and figured I have a few minutes so I better share.

For those of you who are not familiar with domain name squatting, basically it is the process of buying a domain name, sitting on it, and hoping to make some money from it. I do web design as a side hobby and last week I had a very fun exchange with someone who was doing just this. The email exchanges follow:

Eugene:

Hello, I am Eugene Krassnoff, owner of the web domain: WebDesignerIdaho.com I am currently offering this domain "for sale". Should your organization, have interest in acquiring this domain, please feel free to contact me within 24 hours. Kind Regards, -Eugene 954 709-2937 (I left his contact info in here in case you need
it.)

Me (9:01 AM): (Purely out of curiousity) What is your asking price?

Eugene (9:03 AM): Thank you for your email. My asking price is $199 (paypal). I'm looking forward to hearing from you soon. Kind Regards, Eugene.

Me (9:04 AM): Do you have an appraisal I can see? (Just to test him. This is where it gets good.)

Eugene (9:19 AM): That domain is one of a kind and it is priceless. Only one person can own WebDesignerIdaho.com which gives you instant credabillity. (Yes INSTANT CREDIBILITY!) The domain gets 2,990,000 searches for that exact term on Google. $199 would be a small price to pay for someone who is serious to start a web design business in Idaho.

Me (9:30 AM): I'll take that as a no.

Eugene (1:52 PM): (Obviously no one else responded now that he is coming back to me 4.5 hours later) I'm willing to reduce the price up to $125 for quick sale. If interested, simpy reply within 24 hours.

Me (2:04 PM): Eugene,

You'll be lucky to get $30 for this domain.

1. You lie about the searches for the domain. There are barely 1 million people in Idaho. There is no way this term gets than many searches.
2. This domain is VERY young. A simple whois search does not even show you as the owner on some whois searches as of this morning.
3. There are 100's of other domains that a business would rather use than a long domain like this.

Please study up domain name trades, before trying to make a quick buck. Had you offered this domain to me originally for $40-$50 I may have been interested, but judging your ethics I don't trust you.

By the way, webdesignerutah.com is available. Do you want to buy it from me? It's worth atleast $399. Utah has twice as many people as Idaho.

So today I was thinking, "I wonder if Eugene actually bought that domain." A quick visit to http://www.who.is/ and looky, looky:

Domain Name: webdesignerutah.com
Registrar: Name.com LLC
Expiration
Date: 2010-03-19 20:11:54
Creation Date: 2009-03-19 20:11:54

Name
Servers:
ns1.parked.com
ns2.parked.com

REGISTRANT CONTACT INFO
Eugene Krassnoff
Eugene Krassnoff
4 north fed hwy
Dania, FL
33004
USPhone: +1.9547092937
Email Address: krassnoff@yahoo.com

All I have to say is TOO FUNNY.