Domain names are highly in demand compared to when they were first used just by researchers, institutions, and military facilities back in the day. Today, aside from the functions above, they are particularly used for entrepreneurs and organizations.
This is especially true if they want to establish their brand over the internet. Once you have a domain name, you have all the authority to exercise all control of internet activity relevant to it. Hence, there is a need to acquire pre-existing and established domain names, and you can get one through auctions. You may be asking how do domain auctions work?
Historically, once a domain expires, it becomes automatically available for anyone to grab. The first one to register it receives permission to exercise the rights to a domain name. Of course, this is after its registration expires from the previous owner.
Nowadays, domain name acquisition is different; domain names are now acquired through domain auctions. Once a domain’s registration expires, a registrar turns the domain name over to a partner auction house. They will then temporarily serve as its owner until the auction has been scheduled and closed.
So How Do Domain Auctions Work Exactly?
Now that you know what they are, let’s talk about how do domain auctions work? The auction house will schedule an auction for the public to attend and the highest bidder for a domain name gets to keep it. This is a process known today as domain backorder and many people have already taken advantage of it. Some are private individuals, and others include even big corporations.
While auctioning and bidding is a fair way to acquire a domain name, it is also prone to cybersquatting. This is the unethical acquisition of domain names and using it to extort money to companies or individuals who need them. Are you an entrepreneur considering establishing your brand’s website? Acquisition through bidding in an auction is only the first step.
Now that we’ve answered your question “how do domain auctions work”, let’s talk about your rights to the name. Successfully offering for your desired domain alias does not ensure you exclusive rights to it. As soon as it has been granted to you, you must register it immediately with a legitimate registrar.
There are several registrars that you can choose from, but you must watch out for the cybersquatters. Some syndicates pose as “registrar mediators” who promise to register the domain name for a fee.
However, this ends up with them registering it legally under them. In consequence, you are forced to buy it back. With us, you are assured that acquiring your domain name will be easy and its establishment, simplified.
Domain name acquisition is a long process which can be very tedious. Finding your domain name is one thing, and acquiring it is another. You can legally acquire your domain name by bidding for it in auctions, fair and square.
Successful domain name acquisition in auctions can give you rights to it, but it doesn’t mean that you are safe from losing it. Once you successfully bid for it, register it as soon as possible.