If a property you like is not in an auction, you can still bid on it. Please visit sedo.com, our host, open a free account, and place your bid. If your proposal is accepted, it will start an auction that runs for seven days. The winning submission will get the domain. More information is available at Sedo or a broker of your choice.
Anyone who has ever attended an auction knows that things can get very exciting. Items that have been estimated to bring in $$$, jump over and above the estimate and sell for $$$$. On the other hand, high-price items expected to be a hit do not always find any interest, or the reserve remains unmet. Reserve is our keyword, and that brings us to domain auctions.
A reserve is a minimum price the seller wants, but the reserve amount is usually unknown. For example, if a seller sets the budget at $1000, and you bid $500, your offer might be accepted, but it would remain below the reserve. It would take more bidding attempts of up to $1000 or more to sell.
Then there is the Buy-Now or Buy-It-Now price. If the buy now price is posted in an auction, and you do not want to go through a sometimes lengthy process, you can purchase it outright. Your offer ends the auction sale, and you become the new owner.
Once you select a domain and want to buy it, you are only three easy steps away. First, contact a broker of your choice and:
Make an offer.
The domain is in a LIVE auction; place a bid.
Agree on the price and buy outright.
There is no additional cost to you. Contact a broker and enjoy professional services and assistance.
Start an Auction
You like to bid on a property, but it is not in an auction yet? Contact sedo or your broker and place a bid. Your action will start an auction. It's that simple.
Live auctions happen when a broker or an event auctions off some properties. Those sales have a set date and time, for example, Monday at 11:00 AM. When all items have been sold, the bidding is over. An online auction can vary from a few days to weeks or even longer. GoDaddy's auctions run for months. Flippa, another auction place, allows listings for up to 30 days. At Sedo, a sale runs for seven days. The WWW marketplace can and does online schedule auctions at any time.
Bidding is binding. Once you make a bid, you are obliged to follow through. If your proposal is the highest and has met the reserve, then congratulation, you own the domain. However, you got to keep an eye on your auction. Someone else might like it as much as you do, and now you are no longer the highest bidder. You may get outbid. Don't worry; tell your auction house to bid for you, it's a free service, and you'll stay in the game as long as you like.
You observe your auction, or you can ask a broker to place bids for you in increments up to your limit. The higher the price, the higher the increments will be. Once bids reach $100, the bidding goes up by only small increments of $5. A high-value domain may have increases of hundreds of $ once it gets a high price. All you need to do is to set a limit on what you are willing to pay. Bidding will then stop, and the highest bidder wins.
For professional assistance, please get in touch with a broker of your choice.
Host / Registrar
Let's assume you are the lucky buyer with the highest bid; what happens next? First, you must sign up with one if you do not have a host already. You need a host, also known as a registrar, to host your domain. There are many to choose from, just Google 'domain registrar' and pick the one you like.
Next, you need to pay for it. Then, payment is authorized to the auction house, which deposits the money into escrow. The seller will now release the domain to their host, and the transfer into your name and your host can occur.
Congratulations, you are now the owner of a valuable Internet real estate piece.
Important reminder! Once you have acquired a domain, it can be yours forever if you do not forget to renew. Any property has an expiration date. If you register a brand-new name, you can register it for a minimum of one or up to 10 years. The most common extensions like .com, .net, or some country codes like .de only cost less than the USD 20 registration fee per year.
It is essential to check the expiration date of a domain you just bought at an auction.
The expiration date might be a few years down the road, or it might expire next month. If you love and value your domain and want to keep it, it is best to set it at your host or broker's automatic renewal. It would be a safeguard to ensure you own it as long as you like.