Domain squatters post outrageous dollar amounts for websites. FGI actually does carry quite a bit of value because it is only three characters, and it's a .com. Still, someone would be a fool to pay that unless it's a corporation with deep pockets that has a very specific need for the letters "fgi". That is when squatters get lucky.
I am surprised GolfChannel or whomever owned the domain didn't just pony up the $12/year to hang onto it. That's odd.
I've bought from a squatter once. It was a six character .com site, they were asking $25,000. I paid $1,200.
One of my old bosses made $80K off a domain name a long time ago. It sold at auction. A highly valuable name, and he actually had a business reason for owning it. I wish I had stumbled into a few things like he has. Very successful guy, goofy as hell, and a knack for falling into this sort of thing. You make your own luck.
