GoDaddy auctions are a great resource for anyone looking to purchase a currently unavailable domain name or sell an unused domain name. If you have an idea for a web site, but the name you need isn't for sale, check GoDaddy auctions before you throw in the towel. Whether you're looking to buy or sell, using GoDaddy auctions is easy, even it it seems intimidating.
Buying a Domain Name with GoDaddy Auctions
There are three ways to buy a domain name with GoDaddy auctions:
The Traditional Auction
GoDaddy Auctions work similar to other auction sites (like eBay). The owner of a domain name lists the domain on the site. They enter a minimum bid, and the auction runs for seven days. The highest bidder at the end of the auction purchases the domain name for the amount of the winning bid. It’s very simple and straightforward, but not all the domain names for sale at GoDaddy auctions are available for this traditional auction setup.
Offer / Counter-Offer
Domain owners can also set up an offer / counter-offer system. In this system, the buyer makes an offer to the owner: any amount you are willing to pay to purchase the domain name. The owner then has the option to accept your offer or make a counter-offer. The process continues as long as it takes for both parties to come to an agreement.
The final way you can purchase a domain name through GoDaddy Auctions is to Buy Now. When creating a listing for a domain name, the owner has the option to set a Buy Now price. This is usually a little higher than you would pay if you went through the process of bidding at the auction or making an offer and negotiating with the owner, but you’re guaranteed to get your domain name then and there.
Selling Your Domain Name with GoDaddy Auctions
If you decide you no longer want a domain name you own, you can use GoDaddy auctions to sell it to someone who needs it. In order to list a domain name, you must become a member of GoDaddy Auctions, but it only costs about $5 per year. You’ll pay only 10% of the purchase price for a basic listing.
Choose which selling method is right for you: the traditional auction or offer / counter-offer. You also choose whether or not you want to set a Buy Now price.
Don't let the idea of a public auction intimidate you away from this opportunity to buy or sell a domain name. Check out GoDaddy Auctions today.