In the following I will explain how you can get an expired domain name at an auction. To summon up if you have a website then a premium domain name can work wonders for marketing, and it can drive more relevant traffic to your site. All premium domains are per definition already registered, so either you have to buy your premium domain directly from the current registrant, or alternatively, monitor if the domain is set to expire to grab it at an auction.
If the website AllTypesOfCakes dot com has a product page for cupcakes, then it makes sense to get the domain name cupcakes dot com. While a premium domain name like CupCakes dot com is a costly investment, there are of interesting alternative domains at lower prices.
A week ago I stumbled upon the expiring domain name socialmediadomains dot com, which would fit the landing page of our new domain 2.0 service. This particular domain name was on offer at NameJet (There are other good back order companies like SnapNames, Pool.com and GoDaddy). At NameJet you can use different criteria to browse for expiring domains. They have millions, so you need to narrow it down. You can search for domains with specific keywords, search for specific Top Level Domains or many other criteria. This will limit your search list to a reasonable number of domains. When you find an interesting domain name, you can make a bid for it. The normal minimum bid is USD 59-69. The deadline is stated next to the domain name. When this deadline is passed, it is no longer possible to bid for the domain name. NameJet will then try to get hold of any domain name, which has received bids. If they don’t manage to get the domain name, then your bid is cancelled. There is no cost involved.
If Namejet gets the domain name, and you are the only bidder, then you will get it at the minimum price. If there are other bidders, then there will be an auction between the applicants. In our case there were three initial bidders for the domain. When the auction started, we placed a bid of USD 79 with a maximum price of USD 99, in case someone else would bid. Another bid would automatically raise our bid price.
The auction takes 48 hours. Via your account you can post the maximum bid you are willing to pay for the domain name. You will be notified via email if there are other bids. Fortunately there were no further bids in this auction, so we got the domain name at a reasonable price of USD 79.
When you get the domain name, you will receive an email from NameJet. The domain name can be registered via one of their partners, who will host the domain name for you. Be aware that there is normally a minimum period, where you are not allowed to transfer the domain name to your normal registrar. For dot com domains it is 60 days after the auction.
Conclusively, you can get great domains via an auction, and the price does not have to be exorbitant. USD 79 for socialmediadomains dot com is a good investment in a domain name, which is the probable generic term when it comes to register your brand name on social networks. Companies which need to secure their brand names on social media like Facebook, YouTube and Twitter will know that it is called social media domains.
