First, become familiar with the domain expiry schedule.
Read More: Expired Domains
You must first comprehend how a domain expires if you wish to purchase expired domains. Depending on the domain registrar, the expiration schedule varies, however for the majority of domains, there is a grace period of the first thirty days following the expiration date. The website will be unavailable during this period, but it may usually be renewed at the regular fee or for a little more.
Those who have expressed interest in the domain name will often be encouraged to put a backorder before the ownership of the domain is typically relinquished after 30 days. The domain is subsequently put up for seven days of auction, with the highest bidder receiving the domain if there are no backorders.
A domain will go into the pending deletion phase for around five days if it is not sold during the auction process. It is expected to be re-entered into its original registry after this time, where it can be registered for the standard fee.
Step 2: Locate the listing for the domain name you want.
Finding the listing for the domain name you want is the next step. If you have a certain domain in mind, use a WHOIS lookup to find out which registrar it is listed with first. Finding the auction partner you need to contact to submit a bid will be made easier if you know which registrar it is listed with. The majority of registrars collaborate with a certain auction company. Several prominent domain auction houses consist of:
JustExpired
GoDaddy
FreshDrop
Flippa
Sedo
SnapNames
You may locate domains through websites that feature recently dropped domain names as well, if you’re not sure which ones you want.
Step 3: Reserve the domain name by placing a bid or backorder.
Once the ideal domain has been discovered, it’s time to reserve it through an auction or place a backorder.
With a backorder, you may reserve a domain name in advance and get it before everyone else when it expires. You must register with the auction company selling the domain you desire in order to make a backorder.
Backordering a domain name does not, however, ensure that you will be able to register it—it can go up for auction. Depending on their domain extension, backorder guidelines, quality, and other considerations, certain domains are also not accessible for backorder.
Depending on the auction company you are using, there are some phrases that can assist you in the bidding process, but the exact method for placing bids on domains will vary.
highest bidder
The highest sum of money a bidder is prepared to pay to win the auction is known as their maximum bid. In most cases, the bidder who puts the bid first will win when two bidders place the same maximum bid.
Bidding by proxy
Auction systems often have a proxy bidding service that, once you input your maximum bid, will gradually bid the minimum amount required for you to become the highest bidder.
Snipping bids
When a bidder enters the auction at the last minute, they are snipping the auction, meaning that even if there is another bidder who is prepared to pay more, they won’t have time to accomplish it. Certain auction systems forbid this behavior by automatically extending the auction period upon the placement of a bid.