Does someone else own your perfect domain name that, quite frankly, would look better on your website? Is that dream url about to expire? Should you try to buy the expired name? It all depends on how much you’re willing to pay.

Domain names that are expired are usually sold by auction because there’s usually more than one person bidding on the name. If you want to get in the game, then you need to know where the auctions are held. There are two spots when they might happen.

Here’s how a domain name moves through the internet:

  1. Someone registers the website address.
  2. For whatever reason, the owner doesn’t want the name any more so they let it expire. They might forget to renew the name, or they might decide they don’t want it any more.
  3. Opportunity #1

    When the domain name expires, it goes into a Renewal Grace Period (0-45 days). But, the original owner can buy it back at the regular renewal price.

  4. Next, the domain name enters a Redemption Grace Period (30 days). The original domain owner can buy back the name at a penalty ($80-$150)
  5. Finally, the name becomes Pending Delete (5 days). After this point, it is deleted from the ICANN database and released back into the world. Opportunity #1: Buy the expired name from the registrar that currently controls the name (i.e. GoDaddy, NetWork Solutions, etc). On one hand, the registrar is giving the old domain owner a chance to buy back the domain name. On the other hand, the registrar may be auctioning it off to the highest bidder on their aftermarket. Check to see who the registrar is and watch to see if they are auctioning off your dream domain name.
  6. Opportunity #2 – About 75 days after the domain name officially expired, it becomes publicly available again.
  7. Professional companies that specialize in grabbing newly released domain names will snatch up the website address literally the second it becomes available.
  8. Whichever company gets the name will now auction it off to the highest bidder.
    Opportunity #2: Hire 3 or 4 professional companies that specialize in grabbing expired domain names when they get released into the wild (Pool, NameJet, Enom, etc…) One of these companies will grab your dream website address and then you can fight in the auction to win the name.

Bottom Line: If you’re after a specific domain name that is expiring soon, then you need to do your homework and figure out where your auction will take place in.

Source by Mark Shin

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