Purchase Expiring Domain Names with SnapNames
Every day thousands of domain names expire. Snapnames is a great resource to find and purchase those expiring domain names.
What is an expired domain name?
When a domain name is registered (purchased and submitted to the correct registration authorities), it has a certain life. Typically, a registration period is one year. Sometimes owners may purchase a two year registration or more. When that registration period ends, the domain name becomes expired UNLESS the owner has renewed the registration. Think of it like a drivers license. Though in this case, we are talking about online property. To better understand the process, look at this chart which describes the expiration process.
Snapnames has partnered with several domain registrars to list their expiring domain names. Users can see upcoming expirations and place a bid on those names.
How it Works:
- Find a domain name
- Place A bid on that name. Minimum bid is $60. All bids are contractually binding.
- IF the name does expire (sometime the owners renew at the last minute), SnapNames seeks to acquire the domain name.
- If the domain name is acquired by SnapNames, the domain name is placed on auction to all initial bidders. Think of it like Ebay for domain names.
- If no one else bid on the name, then the name is yours for $60.
- If others have bid, a three day auction takes place.
- Name goes to the highest bidder.
Before one gets involved in the domain name property business, watch the next few posts for resources on learning more.
Posted by Paul Flyer on Wednesday, May 31st, 2006 in Domain Names
