Justin Bieber OR Justin Beiber ? value of a misspell.

I saw a domain name auction today which was quite interesting. The sale is for the domain name JustinBeiber.com . As per the seller, this domain name was bought in 2008 and no development is done for the site and is parked free with google adsense. But still it has achieved a google page rank of 3 and with a monthly income of $1,000. What is the magic ?
                          Justin Bieber is phenomenon born on YouTube, where a video from February has more than 122 million views, and a nearly constantly trending topic on Twitter, where he has 2.3 million followers. Justin's second album, My World 2.0, topped the Billboard 200 chart in March, after shifting 283,000 copies in its first week. At 16-years old, he is the youngest solo male artist to reach No. 1 since August 1963.

                   There are 68 million searches with the keyword "Justin Bieber" as per the google keyword tool. The possibility of the visitor to misspell the "Bieber" word is very huge and "Justin Beiber" itself has a monthly search volume of 1.5 million. This is a pretty good amount of volume to make a domain name itself to a google page rank of 3.

                 This domain auction is currently (05/11/2010) on flippa.com for sale and the current bid is at $10K with 4 days remaining.
Auction link: http://flippa.com/auctions/93893/JustinBeiber-com---1000month---Misspelled-Justin-Bieber-PR3-Domain-Name