How to secure expiring domain names
March 10, 2007 | Comments (5) | Filed under: Domain Names
When I first started out in the online marketplace, I had a couple of domain names in mind I was interested in picking up. Both were owned by someone else, but were expiring in a matter of weeks, so I had a little time to get my affairs in order and ensure I had a decent chance at landing the domains. Ultimately I managed to get both domains for just over $100.00 a piece by using Pool.com but only because I knew the process and what I needed to do to make sure they were mine.
A common misconception I constantly hear is that taking over an expiring domain is an easy job requiring little effort. In my experience, this could not be farther from the truth, unless of course the domain you want is “http://llanfairpwllgwyngyllgogerychwyrndrobwllllantysiliogogogoch.com/” (an actual site). When it comes down to it, domain name registration and domain squatting is big business. When I was in university in 2002, a friend of mine used to spend hours every day searching and buying domains he figured could turn a profit. His goal was to lock in a domain someone else wanted, then triple the price and sell it to them directly. If I remember right, I think his biggest score was the domain NorthOf60.com (which appears to host nothing now) which he converted into almost $1000 profit when a television show debuted using the same name. It might not the most honorable of moneymaking plans, but he definitely turned a decent profit. Now, you take that attitude and multiply it by 5 more years of explosive Internet growth and domain name registration, and you start to get an idea of just how cutthroat a business domain squatting can be.
I think the biggest mistake people make is thinking a service like GoDaddy’s domain backordering is all they need to get that ultra competitive name they’ve always wanted. Think about this, anytime you see a domain you think is a good buy and could be worth money, 99% of the time there are thousands of others thinking the same thing. Most likely, almost every one of them has purchased a backorder just like you. There is one domain and 1000 backorders for it, so who gets to have it?
The answer to that is probably none of the people, as the domain will be locked down by someone who takes many more steps and has much more money before GoDaddy even has the opportunity to pick it up. One thing most people don’t realize is once a name expires at the date in its whois record, it actually is not immediately back on the market. For a good description of this process take a look at How to Snatch an Expiring Domain. In summary, a domain that expires actually goes through several grace periods which give the original owner every opportunity to renew their domain. This process lasts 75 days after the listed expiry date. It’s not until the entire process is over, that someone new has the chance to purchase the domain.
Your best bet, if you really want a domain, is to invest in services that help you obtain it. Many can cost you a fair chunk of change, but are much more reliable means of obtaining the name you want. Sites such as Pool.com, Enom.com, Snapnames.com, Sedo.com, and AfterNIC each offer different services and auctions that increase your chances of securing the name your want. Some of these services engage in domain aftermarket auctions where even if you were not the first person to place dibs on a name, you can still be the one that throws down the most cash and walks away with it.
So, if you’re out there looking for a domain now, make sure you understand what’s involved in actually getting it, especially if what you’re looking for is competitive. If your wondering what the estimated value of a given domain is, you can always try services like dnScoop as well as others that calculate a overall value. Just be savvy when it comes to purchases, and always remember it’s a business and a good one at that, and if you want a domain bad enough, you have to do what it takes to make sure you get it. The right name, can make all the difference…
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5 people have left comments
Interesting read. In fact, I gave up the concept of backordering as there are in fact many others who are doing the same thing. I would rather opt for buying names off forums, or at sites like Sedo.
Yeah, I have done the same. I find I would rather pay a little extra and get exactly the domain I want rather than take a risk and end up with something I don’t like as much.
thanks for the tip. now I know where to go when I am looking to buy a expiring domain!
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