I see value in it. The reasons are:
1. COM1 is taken in extensions such as .cc .tv .cn .com.cn .in etc.
2. There is a fair number of companies that are called COM1 or have COM1 in their name. (a google search on COM1 reveals some of them). The perfect end user for this domain is one of those companies. I would personally make it a "corporate" type site for a larger portfolio of .biz domains, if I had one.
So i'd say it's worth at least low $xxx with one of those companies potentially paying quite more for it if they would decide they are interested in this name.