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The domain resolves, but as you say there's nothing there ... perhaps they're saving it for future use and/or forgot about it...
I've done the same thing with some domains I've bought over the years, including some upwards of low $X,XXX.
And one domain I sold several years ago for very high $X,XXX still doesn't even resolve; not even setup for email - the buyer still has never used it for anything.
Ron
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Domagon - Website Management and Domain Name Sales
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