Fiver - 9:29 pm on Jan 16, 2012 (gmt 0)
Why in the world would someone want to spend that much for a domain name?
For clarity, that fee is not for registering a domain, but for proposing a new domain extension. So, say, Apple would apply to have a .apple domain extension be brought into existence.
What I haven't read in plain english yet is who would get to control the registration of domains on that extension.
If Apple paid for the application for .apple, would they get to control all domains that resolve to .apple? If so, the value is obvious, if not, the value is meaningless.