I attempt to monitor the domains that receive the highest number of bids and prices in godaddy auctions. I am perplexed as to why certain domains, such as random combinations of letters or sets of numbers without a top-level domain, fetch higher bids and prices.
It begs the question of who would purchase these domains and for what purpose. Do you have any insight?

Your friends are making bids to artificially inflate the price.

Perhaps, and this is my conspiracy theory, but some numbers (or maybe all) can coincide with some significant things. For example: 11-11-11, 23 (fatal number), 3000 (miles to Graceland), 30 (days of the night), 13, 1408, 127 (hours), etc. These are all the names of famous films, but there are any fairly well-known things that are recognizable only by numbers.
That's my "conspiracy" theory.

The primary benefits of purchasing an old, but meaningless domain are:

1. Accumulated referral traffic
2. The ability to select a name that fits your business or industry, even if the exact name is already taken.
3. Positive indexing indicators.
4. A pre-existing audience of website visitors.

However, this method of entering the business also has some drawbacks:

1. The more authoritative and popular the domain name, the higher the cost.
2. There may be a negative history associated with the old domain, which can impact its reputation.
3. Scammers may try to take advantage of inexperienced buyers by manipulating traffic and promising high returns from the site.
4. Before purchasing an old domain, it's important to check for any sanctions from leading search networks - this can be done through access to Search Console.