Going Once, Going Twice... What You Need to Know About the GoDaddy Domain Auction
A domain name isn't just a web address. It serves as an extension of your brand and provides instant recognition.
The best domain names deliver more value than their initial registration cost.
In fact, a domain name can be worth tens of thousands of dollars if you find the right buyer.
GoDaddy auctions offer a simple and straightforward way to determine your domain's value.
Here's how you can maximize your earnings and learn how to auction a domain name at a GoDaddy domain auction.
What Is a Domain Auction at GoDaddy?
GoDaddy auctions bring buyers and sellers together in one marketplace where they can exchange domains.
Sellers post their domain names for free on the website. Other perks of GoDaddy auctions include:
· Accepting offers and sending counteroffers to potential buyers
· Setting a "Buy Now" price
· Creating seven-day public auctions
The GoDaddy doesn't have free domain auctions, their fees appear on top of every sale, with the cost depending on the domain's sale price.
For example, the company takes a 20% commission on any domain valued at $5,000, while it charges $1,000 plus 15% for sales between $5,001 and $25,000. Any domain worth more than $25,000 has a $4,000 commission plus a 10% surcharge.
How Do GoDaddy Auctions Work?
You'll have no problem picking up GoDaddy auctions if you've used eBay (actually there are eBay domain auctions) since the GoDaddy domain auction process is quite similar.
Sellers can set a price and let buyers duke it out for the top bid. Buyers have until the deadline, usually seven days after the original post, to place their best offer.
GoDaddy offers some alternatives to the traditional auction model. For instance, sellers can let buyers make an offer with the "Buy Now" tool.
It allows people to negotiate the sale of a domain name without a pressing deadline.
Additionally, the GoDaddy auction process has another track for expired domain names.
They automatically go into an auction, where anyone can bid on them. If you place the highest bid, you'll be the proud owner of a new domain.
What Is a Push to Auction?
GoDaddy domain name auctions come with built-in flexibility.
The site lets you change a listing from Offer/Counteroffer into a standard auction in a single click. This switch means you don't have to deal with offers and counteroffers.
If you opt for a Push to Auction, the highest bid when you make the switch becomes the opening bid.
It also eliminates any pending offers. If someone bid on the domain name, but it wasn't the highest, GoDaddy will send them a notification so that they can bid again.
Why Didn't I Win an Auction?
It's not the end of the world if you don't get your desired domain name.
First, a registrant may renew the domain name. In this case, they extend their existing ownership and cancel the sale.
Second, GoDaddy Auction may add time to the auction. This process allows more buyers to see and bid on the domain name.
If multiple buyers submit bids at the last minute, you may lose out to one of them.
Third, a seller can create a reserve price before the auction. A reserve price serves as a minimum value for the domain.
If the winning bid does not exceed this figure, the seller will retain it.
How Do I Transfer a Domain Name?
All sellers have to transfer their domain to the buyer. The process depends on the buyer's and seller's registrars.
If both parties have GoDaddy accounts, the seller can initiate the transfer, and the domain's expiration date won't change.
If the two parties have different registrars, the buyer has to initiate the domain name transfer.
This process involves moving the domain name to another name at the same registrar. The transfer does not contain a registration extension.
If you need assistance with your transfer, you can reach out to the GoDaddy help center.
It has the free tools and expert advice you need for problems big and small. Specialists are available round-the-clock, so you can call or chat 24/7.
Can I Sell a Domain Name on the Secondary Market?
Yes, GoDaddy has a reselling program where people can buy and sell domain names.
You can also sell other GoDaddy products, such as email, hosting, and website builders. The program lets you set your own prices while GoDaddy handles the payments.
Selling a domain, also known as domain flipping, can be a savvy business move.
If you purchase the right name before it becomes coveted, you can earn a fortune. For example, Hotel.com and Business.com sold for $11 million and $7 million, respectively.
Buy and Sell Domains Today
GoDaddy is a premium domain auction house and provides a convenient and accessible platform to buy and sell domain names.
If you want to find out which ones will boost your site rankings, check out the analytic tools at SpamZilla.
We analyze historical traffic and backlinks to help you select the right domain name for your personal or small business website.