Looking at the size of the attendance at this auction and the amount of money changing hands, it looks like the domain name re-selling business is still going strong:

"March 2007 Silent Domain Auction ends" - http://blog.domaintools.com/2007/03/march-2007-silent-domain-auction-ends/

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Updated 2021 : note that the above post is out of date as it was originally published in 2007, but is left here for archival purposes. I have unlinked the external link above as it is now dead.