GoDaddy Auctions Review – Read Before Bidding

If you are planning to buy some expiring domains from GoDaddy auctions, you’ll need to understand its auction process. In this blog, we’ll take you through the Godaddy auction process, the different types of auction listings, membership, steps to participate, the auction features, and so on. To put it simply, you’ll get to explore How the GoDaddy auction works from A to Z.

What is a GoDaddy auction?

While GoDaddy sells new domain names, it also consists of a platform where expiring domains are auctioned. Godaddy partners with various registrars and lists their expiring domains in its auction. GoDaddy Auctions also allows domain sellers to list their domains and charges a certain percentage of the sale price once the domain is sold.

GoDaddy’s auction platform allows the seller to add optional features to increase the exposure of a listed domain. Buying through GoDaddy Auctions entails no additional fees except the cost of a one-year renewal or transfer.

The different types of GoDaddy Auctions

There are a total of seven types of GoDaddy auctions that you should know about and why they differ from each other.

If you’re wondering how to buy a domain on GoDaddy Auction, it’s pretty simple. The process is laid out with various filters to narrow your search.

1. Expiring Auctions

An expiring auction refers to an auction that is held by a domain registrar for a domain name that has expired and is about to be released back into the public domain pool.

When a domain name expires, the registrar may give the owner a grace period to renew it. If the owner does not renew the domain, it will enter a redemption period, during which the owner may still be able to recover the domain by paying a fee. If the domain is not redeemed during the redemption period, it will be released for registration by anyone who wants it.

Expiring domain auctions provide an opportunity for buyers to acquire valuable domain names before it becomes available for public registration. Domain registrars auction these domains to generate revenue and prevent domains from being lost or going unused. These auctions typically last for a limited period and interested buyers can place bids on the domain name. The highest bidder at the end of the auction period is awarded the domain name.

2. Public Auctions

GoDaddy also allows domain sellers to list their domains on Godaddy auctions. It is a type of auction where a domain is listed by a Private seller on Godaddy. Public auctions will go on for 7 days.

During a public auction, interested buyers can place bids on the domain name. The bidding process typically starts at a minimum bid amount, and the bidding increases as more buyers place bids. At the end of the auction period, the highest bidder is declared the winner and can own the domain name.

Public auctions can be a good opportunity for both sellers and buyers to acquire valuable domain names. However, buyers should be aware that they may be bidding against other buyers who are also interested in the same domain name, and prices can sometimes be driven up to very high levels.

3. Public Buy Now

Some auctions entail buying expired domains at a fixed price. That’s what a Public “Buy Now” auction is all about, which is also known as a “fixed-price auction” or “buy-it-now” auction.

In a public “buy now” auction, the domain name is typically listed on an auction site or domain marketplace, and interested buyers can purchase the domain name outright by paying the listed price. Unlike a traditional auction, there is no bidding process involved, and the domain name is immediately sold to the first buyer who agrees to pay the listed price.

Public “Buy Now” auctions for expired domains are often used by domain registrars and by third-party sellers and domain marketplaces as a way to quickly sell valuable domain names that are in demand. This type of auction can be convenient for buyers who want to acquire a specific domain name without having to go through the bidding process or compete with other buyers.

However, buyers should be aware that the prices for domain names listed in buy-now auctions may be higher than in traditional auctions or direct negotiations with the owner. This is because the fixed price listed by the seller is often based on the perceived value of the domain name and may not reflect the actual market value or the price that could be obtained through negotiation.

4. Closeout Domains

A closeout Godaddy domain auction is a type of auction for expired domain names that are unsold from the expiring auction.

Closeout domain auctions are typically held by domain marketplaces or registrars and offer buyers the opportunity to purchase domain names at a deeply discounted price. The auction usually lasts for a short period, typically 7 days, and the domain names are sold on a first-come, first-served basis to the buyer.

During a closeout domains auction, the prices for the domain names are significantly lower than in traditional or public auctions. This is because the auction is meant to quickly sell off domains that have not received bids or have a limited time before they are released back to public registration.

One important thing to note about closeout domain auctions is that the domain names offered may have been previously rejected by buyers in previous auctions, and as such, they may not have the same perceived value as other domains that have sold at higher prices. Additionally, some domain names in closeout auctions may be listed due to their low quality, lack of traffic, or other reasons.

Nevertheless, a closeout domain auction can still present an opportunity for buyers to find valuable domain names at affordable prices.

5. Value Priced Domains

If you have a lower budget, you might want to choose this type of auction. A value-priced domains auction is a type of auction for expired domain names that are sold at a lower price point than premium domains but still have some perceived value or potential for future use.

These auctions are often held by domain marketplaces and registrars and are designed to offer buyers affordable options for acquiring domain names that may be useful for personal or business purposes. The domain names offered in value-priced domains auctions are typically priced at a range that is considered accessible to the average buyer.

During a value-priced domains auction, interested buyers can place bids on the domain names that are offered. The auction period usually lasts for a set period, typically several days, and the highest bidder at the end of the auction period is awarded the domain name.

Value-priced domain auctions can be a good option for buyers who are looking for affordable domain names that still have some potential value. These auctions may feature domain names that have expired or are no longer in use, but still, have a keyword-rich or brandable name that could be useful for SEO purposes or future branding efforts. Buyers should carefully research the domain name and its history before placing a bid in a value-priced domains auction, to ensure that it meets their needs and has no negative history or associations.

6. Offer/Counter-Offer

A counter-offer auction for expired domains is a type of auction where the seller sets a reserve price for the domain name, and interested buyers can submit offers that the seller can then accept, reject, or counter with a different price.

In this type of auction, the domain name is listed on an auction site or domain marketplace, and interested buyers can submit offers to purchase the domain name. The seller can then choose to accept the offer, reject it, or counter it with a different price.

Counter-offer auctions are often used for domain names that have a high perceived value but may not sell at a fixed price or through a traditional auction. By allowing buyers to submit offers and negotiate the price, the seller can potentially receive a higher price for the domain name.

One potential advantage of a counter-offer auction for buyers is that they can potentially negotiate a lower price for the domain name than what was originally listed. However, buyers should be aware that the seller has the final say in whether or not to accept an offer, and there is no guarantee that a counter-offer will be accepted or that another buyer will not make a higher offer.

Overall, a counter-offer auction can be a good option for buyers who are interested in acquiring a specific domain name but may not want to pay the full listed price upfront. It can also be a good option for sellers who are looking to maximize the sale price of their domain name through negotiations with interested buyers.

7. DomainConnect

DomainConnect is a service that allows domain registrars to provide a simple and secure way for their customers to connect their domain name to third-party services, such as website builders, email services, and other online tools.

In the context of auctioning for expired domains, DomainConnect auction refers to an auction process where a domain name that has expired or is no longer in use is listed for auction on a domain marketplace or auction site, and the auction winner can easily connect the domain name to a third-party service using the DomainConnect service.

DomainConnect auctions are designed to streamline the process of connecting a domain name to a third-party service for the winning bidder. When the auction is won, the winning bidder is able to quickly and easily connect the domain name to a supported third-party service by entering their account information for the service in question. This can be a convenient option for buyers who want to quickly start using the domain name for a specific purpose, such as building a website or setting up an email account.

Overall, DomainConnect auctions can be a good option for buyers who are looking to acquire a domain name that is ready to use with a third-party service and for sellers who want to make it easy for buyers to start using the domain name after the sale.

How many domains does each listing type contain?

Each listing type that was mentioned above has a long list of domains depending on what is selected. And this selection is huge, which is why GoDaddy has filters that one can use.

Let’s say, a business owner consults his clients about finance-related matters. He wished to buy some expired domains relevant to his niche so that he can use them to rank his main website on SERPs. He wants to find expiring domains with .com extensions that have been active for at least 5 to 10 years.

After clicking submit on the filters, he may likely get between 15 to 500 listings of expiring domains per page. These pages may range well over 9 pages. So, we sum up 500 listings over 9 pages, and we get 4500 listings of expiring domains on an auction related to finance consultation. As you can see above, the first page shows how many bids or offers are lined up per expiring domain along with the estimated value in USD and its bidding price. There is an empty slot where you can add your bid to compete in the auction. The last column shows the time and days left for the auction to conclude. For instance, the first domain eyesecurity.com has 3 days and 11 hours left until the auction period ends.

Auction membership features and the steps to participate

Whether you are interested in selling or buying on GoDaddy auctions, it’s important to understand the membership platform features. When you are aware of what it offers and the steps needed to participate, it is easier to manage GoDaddy expired domain buying or selling activities.

Here are some of the features and benefits of the GoDaddy Auctions membership

• Access to closeout auctions: GoDaddy Auctions membership provides access to closeout auctions.
• Bid on auctions: Members can bid on auctions to purchase domains they are interested in. Bids can be placed on both expired domain auctions and closeout auctions.
• Buy it now: As mentioned previously, some auctions offer a “buy it now” option, which allows users to purchase the domain immediately at a set price.
• Exclusive access to expired domain auctions: GoDaddy Auctions membership provides exclusive access to expired domain auctions.
• Sell domains: With Godaddy auction membership, you can sell your own domains in Godaddy marketplace.
• Add domains to your watchlist: Not sure whether a particular domain is worthy of a purchase? Or, maybe you want to monitor the bids on a specific domain? Then you can add those domains to the watchlist and access it later.

How to become a member of the GoDaddy Auction platform?

Step 1 – Sign up for a GoDaddy account if you don’t already have one.

Step 2 – Go to the GoDaddy Auctions page and click on the “Join Now” button.

Step 3 – Select the membership plan you want to sign up for.

Step 4 – Enter your payment information to complete the sign-up process.

How to use filters and find expired domains on Godaddy auctions?

The auction platform has filtered search options from basic to advanced. If you want to first look for generic domain names or niche ones that are not too specific, the basic search offers a quick listing.

As you can see below, the basic search option provides you with a few pertinent choices when looking for an expired domain. These are the types of features that are mentioned above in the membership features section.

Even if you type a keyword in the search, it offers you the most basic way to search for a GoDaddy expired domain. Let’s say the same financial consultant business owner wants to find the most active domains by using the keyword ‘financial consulting’, here’s what he is likely to get. The list is comprehensive with 25 domains on each page, and the pages seem to be endless.

Likewise, if the business owner wants a list of expiring soon domains, using the same keyword ‘financial consulting’, he will get:

Therefore, as per the popular searches, you can select ‘ending soon’, ‘fixed price’, ‘closeouts’, and so on to finalise your domain listing.

However, if you want to further narrow down your list of expired domains, you must head over to the advanced search option.

Once you click on the ‘Advanced Search’ button, you will be led to a window of extremely specific search filters.

These search options entail

• Keywords type: This filter has a slot to select a type that tells the system about the type of keyword you are looking for.
  • Exact match
  • Begin with
  • Contains
  • Ends with

Additionally, you have to mention the keyword and click one of the types. For instance, ‘Financial Consultation’ and select the type that says ‘Begins with’. This means that you want your domain names to begin with the term Financial Consultations

• Price: The price filter allows you to filter the domain auction inventory based on the price of the domain. You can add a price range from minimum to maximum.
• Type: The Type filter refers to selecting the type of auction you wish to participate. These types include:
  • Expiring Auctions
  • Public Auctions
  • Public Buy Now
  • Closeout Domains
  • Value Priced Domains
  • Offer/Counter-Offer
  • DomainConnect
• Extensions: The extension enlists domain extensions from .com to .info, .org, .net, .shop, .agency, .biz, .financial, and so on. There are several extensions you can choose from this list. You can even select more than one extension at a time.
• Characters: How long do you want your expired domain to be? You can add the character limit you are comfortable with to suit your brand and business. However, the cut-off mark is 63 characters, which also means that you can choose exactly 63 characters or not more than either option. You can also select whether you want to add digits or dashes and how you want the character pattern to develop.
• Attributes: Attributes signify the type of business you own, from business to real estate, business, and even ‘others’. There are other options available to choose from as well like ‘buy now’, ‘invite only, ‘featured’, etc. You can even include a specific item number in your search.
• Domain age: How old do you want your domain to be? You can add an age range, let’s say, from five to 15-year-old domains.
• Number of Bids (# of Bids): In this filter, you can choose ‘More Than’, ‘Exactly’, or ‘Less Than’ 1000 bids.
• Traffic: You don’t want just any domain to appear without one that has an estimated website traffic number. Here you can choose between 1 to 10,00,000.
• Ending in: ‘Ending in’ is a filter that gives you the freedom to filter domains that are ending soon.

The auction process on GoDaddy Auction

The auction process on GoDaddy Auctions can vary depending on the type of auction and the specific listing. Here are some general steps for participating in a typical auction on GoDaddy:

1. Find an auction: Search for the domain name you’re interested in using the search bar on the GoDaddy Auctions website. You can also browse the “Ending Soon” and “Featured” sections to find domains that are up for auction.
2. Place a bid: Once you find a domain you want to bid on, click on the domain to view the auction details. If the auction is open for bidding, you can enter your bid amount in the “Place a Bid” box and click “Bid Now.” If the auction is private, you may need to request access to bid.You can also place a ‘Proxy Bid’ which refers to setting a maximum limit to the amount you can bid for a particular domain name. The system will automatically place your bids in increments until your maximum bid limit is reached. So, if you’ve set a maximum limit of $1000 on a current bid of $250, your first bid may start from $260. This bid keeps going up until it reaches your maximum bid limit, that is, $1000.
3. Monitor the auction: Keep an eye on the auction to see if you have been outbid. If you are outbid, you can place a higher bid to try to win the auction, which is known as outbidding. If you are the current high bidder, you may receive email notifications if someone places a higher bid.
4. Wait for the auction to end: The auction will typically have a set time limit, usually a few days. Once the auction ends, the highest bidder will be the winner. However, you also note that an auction extension or extended bidding may take place to give all bidders an equal chance. This is done to prevent ‘Sniping’ where a sneaky bidder places their final auction just on the eve of the auction ending. To make sure that other bidders do not experience this injustice, GoDaddy Auction offers an extension of time by a couple of minutes. For instance, if a bid is placed at 10:59:30 AM, while the auction is about to end at 11:00 AM, the auction time will be automatically extended by a few minutes.
5. Complete the purchase: If you win the auction, you will need to complete the purchase process. You will receive instructions on how to do this, which may involve transferring the domain to your account or setting up a new account with the domain registrar.It’s important to note that there are different types of auctions on GoDaddy, such as expired domain auctions, closeout auctions, and aftermarket auctions, and each may have its own specific rules and procedures. Additionally, the auction process can vary depending on the seller’s preferences and the terms of the auction listing.

How to sell a domain on GoDaddy Auction?

Many people also use GoDaddy Auction to sell a domain. We’re here to help you explore those steps as well, in case you wish to do so too.

You must know that there are fees associated with selling a domain on GoDaddy Auctions. This includes the listing fees, success fees, and payment processing fees. You must carefully review the fee schedule before listing your domain to ensure that you understand the costs involved.

Furthermore, it’s a good idea to promote your domain auction through social media, email marketing, and other channels to increase visibility and attract more bidders.

Step 1 – Create a GoDaddy Auctions account

If you don’t already have one, create an account on GoDaddy Auctions.

Step 2 – List your domain

In your account dashboard, click the “List a Domain” button and enter the domain name you want to sell.

Step 3 – Set your auction options

Choose the type of auction you want to run (public or private), the auction length, and the starting bid. You can also choose whether to allow Buy Now offers, set a reserve price, and select additional auction options.

Step 4 – Wait for bids

Once your domain is verified and listed, potential buyers will be able to place bids on it. You can monitor the bidding activity on your auction page.

Step 5 – Close the auction

When the auction ends, the highest bidder will win the domain. You will receive payment for the sale, and GoDaddy will transfer the domain to the buyer.

Summary

Hope this detailed article helped you understand how Godaddy auction works.
If you don’t have the patience to filter quality SEO domains from the huge list of domains listed in Godaddy auctions, please take a look at our SEO domain inventory.