A monopolist hiking prices to this extent will likely see legal action against them. That's a 20x increase you're proposing.
It's also unlikely to have a material effect. .com used to cost $75 a year back in the day, and that didn't stop squatters, and high value domain transfer sales. $75 in 1990s dollars is about $150-$190 today.
then don't allow reselling, just allow giving it back and do a raffle again