If you are looking for a perfect domain name for a new blog or website, you might get a lot of options. However, if you are not able to find a good but unregistered name, you can consider buying an expired domain name. There are a lot of websites online where you can buy an expired or expiring domain names. A few months back I participated in Godaddy auction to buy a very good domain name. While choosing a domain name, it takes a bit of time and so I also took some time to choose it for me. Today, in this article I will tell you what actually is Godaddy Auctions and how does it work, based on my personal experience.
Contents of This Guide
GoDaddy Expired Domain Auctions
Let us first begin with what actually Godaddy Expired Domain auction is. So, whenever a domain name bought through Godaddy expires, it is listed automatically in Godaddy Auctions just after 25 days of the expiration. The end date for any Godaddy Expired Domain auction is set for 11 days in the future. As soon as the auction begins, anyone who has Godaddy expired domain auction account can bid on the domain name. You can get a Godaddy Auction Account in $4.99 per year.
How does Expired Domain Auction Work ?
Let us know how domain expiration and auction process works in GoDaddy. A few other registrars may have a similar type of auction process.
1) When a domain expires the domain owner gets 18 days to renew it. During the ongoing domain expiration process, the owner or registrant of the domain has the option to renew it. An important point to note is that only during this initial 18-day time frame they can renew it without paying any extra charges.
2) From 19th day onwards, an $80.00 fee for redemption is charged. From this day onwards, the original registrant of the domain needs to pay the renewal fee as well as $80.00 redemption fee to get the domain back.
3) On the 26th day from the expiry of the domain, an auction begins in Godaddy Auctions. This auction takes place for 10 days and is available only for GoDaddy auction members. A GoDaddy auction membership needs to pay $4.99 per year. This membership also lets you list your own domain names to auction & also allows you to monitor up to 100 domains for status changes.
4) If during this time period no one bids on the domain, it enters into a five-day “closeout auction.” In this auction period, anyone can bid on the domain name. So, Whether he is a GoDaddy auction member or not it doesn’t matter.
5) Once the closeout auction ends, the original registrant of the domain has one last day to renew it after paying the renewal fee plus the $80.00 redemption fee. By any chance if the original owner of the domain name fails to do so, the domain name goes to the winner of the auction. If no one placed a bid on the domain name, it goes back to the open pool for registration.
Important Points to Note
1) A domain name owner has got 42 days from the expiration date to get his domain name back. In case you bid on a Godaddy domain name in Godaddy auction, the owner of the domain can still renew it even if you win that particular auction (only till the period of 42 days from the date of expiration is reached). In such a case, you will get refund of your amount.
2) Your bid for the domain does not include the registration fee, which means you need to pay that as well.