The domain is currently owned by the Canadian rock band “The Tea Party.”

The site was introduced in the 1990s to list tour dates and provide details on the band. But given the rise of the Tea Party, the U.S. conservative political movement, “The domain has gained significant relevance, and has already generated substantial interest from a wide range of political groups,” according to a press statement from Sedo (Search Engine for Domain Offers.)

"We were floored by the worldwide press and interest in our domain name teaparty.com that soon followed the initial story in Businessweek,” Stuart Chatwood, bass player of The Tea Party, said in the statement. “After being overwhelmed by the multiple offers that were arriving daily, we thought it was prudent to seek out the best brokerage to help represent the band, and Sedo was the clear choice.”

"It's very rare when a domain name of this value and significance becomes available – especially one that is so timely and relevant," Kathy Nielsen, director of sales at Sedo, added in the statement. "With the election season right around the corner, TeaParty.com provides the right investor with very significant marketing and revenue opportunities very few domain names can offer today."

Industry watchers say that “teaparty.com” might sell for $1 million or more, according to Canada’s Telegraph Journal. That’s far from a record, according to the newspaper. The Telegraph Journal cited data from The Guinness Book of World Records, which says Insure.com sold in October 2009 to Internet marketing firm QuinStreet for $16 million. Other high-priced domain names include: Fund.com, which sold for $9.99 million; Porn.com, which sold for $9.5 million; and Business.com, which sold for $7.5 million, the newspaper reported. In the United Kingdom, several years ago the domain name "sms.co.uk” was “the biggest name ever to hit the UK resale market,” reported TechZone360.

Back to the musical front, the band known as “Tea Party” was started in 1990 featuring singer Jeff Martin, drummer Jeff Burrows and Chatwood. The band purchased the domain name in 1993. It fell apart in 2005 but has since gone out on a tour. The band’s influences include “beat poets” Allen Ginsberg and Jack Kerouac, The Telegraph Journal said.

Sedo has its headquartered in Cologne, Germany and has other offices in London, England and Cambridge, Mass. Sedo says it has more than 18 million listings in a database of domain names for sale.