I am trying to purchase a domain from a company that I have investigated and found they falsify domain sales prices by putting out press releases that the domain sold for exorbent amounts of money. It's very obvious because they are the ones putting out the press releases on their own and the websites (half million plus) have not changed in years nor has their website despite being 'sold'.
Is this legal? They are hoarding a bunch of domains under the false pretense that their 'new' price is being based on their false 'sale'.
Oh, c'mon, you know better than that :) Depends on their jurisdiction. But I would think you can say anything you like in a press release. Except things that are illegal for some other reason, like provable slander of a competitor. It's not technically advertising. Even if that is its only reason for existence.
Arithmetic is on their side.
Domain registration = $10. Parking on shared host or your own server = maybe 50c in electricity? Default* asking price = $1000. Sell 2% of your domains each year and you come out ahead. Ask a higher price and the necessary minimum percentage plummets.
* If a domain-name dragon contacts me and asks $1000 for a typo domain name, I have to assume that's the default starting bid in the industry.