Someone once spent $100,000 on a 'virtual space station' in Project Entropia
(link) and Anshe Chung, a Second Life player, has built a
business empire with assets of over a million dollars all from an initial $10 investment... so a $1000 island is pretty much a bargain - and private regions in Second Life cost $1675 to buy and $295 a month in rental
Maybe it's a cheater trap though? I remember the "DC exploit" where, in the space of a week, someone had plonked a size 8 island on a private plot. It was pretty obvious that they'd discovered some way to manufacture money, and their own greed in wanting to get there first was their eventual downfall.