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An interesting experience buying an expired domain

Discussion in 'Domain Names' started by sarahk, Mar 4, 2014.

  1. #1
    We were tossing around branding ideas the other day and discovered that the matching domain for one of our options was "pending release".

    At the same time I noticed another domain that was an exact match for one of keywords that I could build something clever around. I put in a bid with an autobid maximum thinking, cynically, that I could guarantee that "someone" would test that limit. At that stage there was a day and a half left to run. I was a little perturbed that the site advertised the domain and value of my bid.

    90 minutes before the domain was due to be released I went to bed, with my bids unchallenged.

    4 minutes before it was due to end in came a bid that exceeded my autobid

    upload_2014-3-5_12-47-55.png
    Ok, well played jonnyperk!

    but then
    upload_2014-3-5_12-50-13.png
    The original registrant wasn't local and I can only assume that they looked to see if any of the sites like the one I used had bites on the domain. It did, so they've renewed and will probably try to flip it.

    Then again, maybe they were contacted directly and the deal went through just in time - because the whois info is different now.

    Either way, I'm not too fussed, I like the idea I came up with and found a suitable domain. It'll be interesting to see what happens though.
     

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    sarahk, Mar 4, 2014 IP
  2. makeit easy

    makeit easy Active Member

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    #2
    It sounds like you are a newbie expired domain buyer.
    Valuable domains rarely expire. Even if they expire, you must be lucky to buy them for cheap because of the public auction mechanism. The benefit of expired auctions depends on chance, the time spent to follow those auctions and your level of expertise especially in appraising. It's a profitable business. But like every businesses it needs time and effort.

    Last minute bids are always possible. It's not rare and interesting. Sometimes the owners may renew and sell their domains privately.
    As far as I know (from tdnam auctions) domain owners can renew their domains in 7 days after the auction ends. Even if someone won the auction and made the payment immediately, he/she must wait for the original owner for 7 days. If the owner renews it in 7 days, winner gets a full refund and the domain goes back to the original owner. Perhaps it may be the reason of why sometimes original owners are contacted. But usually original owners don't renew even don't follow those auctions. Also "late" renewal fees are much higher than usual rates.

    I personally let many domains expire rather than bothering with selling. I had never looked back to see what happened those my old domains. I also bought many expired domains from auctions. So I know these things.
     
    makeit easy, Mar 4, 2014 IP
  3. sarahk

    sarahk iTamer Staff

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    #3
    newbie - and apart from the one I'm still watching, it'll be a short lived "career" :)

    If the domain had been a .com I'd have expected a lot more interest - given that it's a .co.nz and a low value niche I hadn't expected any competition. According to archive.org the domain has been neglected since 2004.
     
    sarahk, Mar 4, 2014 IP
  4. makeit easy

    makeit easy Active Member

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    #4
    Country extension may be more valuable than com version depending on the type of business (local/global) and the country. We are talking about a local business in a small developed country where country extension is a must to show the difference and trust to the prospects and existing customers within the country.

    I don't underestimate the power of com domain. Even for such a local type business, com domain might still carry a high value. But for whom? Who can be the end user of its com extension? I guess it might be the companies that doing a local business globally, in every country. If there are such global companies in the industry, they might be interested in buying its com version and we can say yes, its com extension has a really high value. Otherwise, it shows that the business can never be operated globally and we don't really need its com version.
     
    makeit easy, Mar 4, 2014 IP
    Alin Alex and sarahk like this.
  5. sarahk

    sarahk iTamer Staff

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    #5
    This gave me a giggle

    upload_2016-5-24_16-40-27.png
     
    sarahk, May 23, 2016 IP