If you want to buy or sell a domain, you should get familiar with GoDaddy auction marketplace, since they are the biggest worldwide domain registrars. In fact, using the guide to GoDaddy auctions, you will soon realize that buying a domain is by far the simplest part of creating a web site.
In order for you to get access to GoDaddy auction marketplace, you will have to pay a $4.99 membership, which will be valid for one year. After that, you will have to renew it. Save 25% off your next domain purchase by using one of our latest GoDaddy coupon codes.
Once registered, you will be able to see the auctions tab. Click it and you're all set to engage in bidding for the domains that you want. Perhaps, the first thing that you might be interested in is the auctions soon to be expired. The starting value for each auction is $12. You have several categories related to the auction with information, such as the current price, the number of people who bid, the valuation from Go Daddy and the time left until the end of it. Every time a bid is placed in the last two minutes of the auction, the time available for bidding will increase by two minutes.
There are four formats for an auction to be performed. You can get to choose between the “buy it now” format, the “offer/counter offer”, the “7 day auction listing”, or you can go for an “offer/counter offer with a buy it now”.
Keep in mind that the name listed in the auctions may or may be not registered with the Go Daddy platform.
When an auction gets to the end and nobody takes interest during a period of 10 days in, the names of that auction will get listed as closeouts. When this happens, the auction will reverse itself to a 5 day auction. In this case, the starting price will be $11 and it will be available for purchasing for the next 24 hours. If still nobody bids on the item, the price will go down to $10 for the next 24 hours. This goes on like that to $9, then $8 and in the end to $5.
If you know exactly what you are looking for, you can always use the advance search for a better display of the searches. For instance, if you are in for the closeouts, select the bottom available for closeouts. This will very much simplify things for you. Proceed the same for every advance search you want.
Besides buying, you can also sell your own names on GoDaddy Domain Auction. You will have the same formats at your disposal, listed above. Another interesting thing is that you can promote your listing with the help of its feature listing option. For $19.99, you can add your domain to the “Feature Listings” section. For targeting only one category, you will have to pay $9.99. Either of these two methods worth, since GoDaddy has over 1 million visitors weekly. A listing will appear in the top pf the page and it will last for three months. This will not be the case if you go for a seven days auction option.
The commission of the site is 15%, which is quite reasonable.
Also, please keep in mind, that winning a name doesn't mean it can't be renewed. Every time a domain name expires, GoDaddy Domain Auctions will list it after 25 days. But, if you're finding yourself in this situation, you have the right to claim it up to 42 days after the name has expired. Once yours, the name will be available in your account. You will probably have to wait for a few days. But once the name is in your account, you can start selling it as your own.