The price of a domain name can vary according to a few factors:
The first is if the domain is available or not. If it is available, the cost will be significantly lower than if its unavailable. This is because companies and individuals buy domains names that they feel have potential, with the hope of selling them for a large profit in the future. For a famous example of this, look no further than Facebook, who had the domain name thefacebook.com until they bought facebook.com for $300,000.
Secondly, there’s the domain suffix or top-level domain (TLD); this is the part of the domain that comes after the ‘dot’ – like .com, .org, or .lt. Different suffixes cost different amounts, with those belonging to a particular country (like .lt) generally being cheaper.
Lastly, there’s the amount of time you register the domain name for, with domain registration companies usually offering discounts if you register it for multiple years.