Social.org domain name sells for $228,600

Social.org domain name was sold through the well known domain name auction house, NameJet for $228,600.
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"Social.org" is a good domain name. But $228,600 for it is a bit exaggerated value. I had a free certified domain name appraisal from TuckTail.com the value was only $2,003.00 - $3,720.00

 

I don't understand the reasoning behind someone buying a domain solely for the name. It just seems like such a waste of money. Some guy bought ebola.com a few months back for some huge sum, and how is that doing now?

 

I don't understand it either. Maybe someday someone will need that domain and the amount would be worth it, but I'm really skeptical since the biggest domain names like Facebook, Twitter, Google, etc, aren't even actual words.