GoDaddy Auctions

GoDaddy Auctions remains a leading platform for domain investors and businesses, maintaining its strong position in the digital marketplace as we move into 2024. It continues to be a top destination for acquiring expired domains and exploring nothing but the best opportunities in domain investing.

What are GoDaddy auctions?

GoDaddy Auctions is a marketplace where domain names are sold through auctions. 

It's a dynamic environment where prices are determined by supply and demand.

Whether you are a developer, an investor, or just a regular Joe, the use of GoDaddy could become a viable source of income.

State of GoDaddy Auctions in 2024

The landscape of GoDaddy domain auctions has changed significantly in 2024. As of April 29, 2024, GoDaddy has closed its seller platform and is focusing mainly on buying domains, especially expired ones.

While the platform is still popular with those looking to make an investment in domains, its focus is now on helping users acquire valuable domains rather than allowing them to sell their own.

What kind of domains are auctioned?

With the recent changes, listings on GoDaddy auctions have shifted their focus primarily on two types of domains.

1. Expired Domains: These are the centerpiece of GoDaddy Auctions' new direction. Expired domains are those that previous owners have failed to renew.
2. Afternic Syndicated Listings: While GoDaddy Auctions no longer accepts direct seller listings, it continues to display domains listed on Afternic, another GoDaddy brand. This is the new recommended aftermarket for domains.

The GoDaddy site has ensured that its domains are catered to individuals, businesses, and domain investors.

How to participate in GoDaddy auctions?

To participate in GoDaddy Domain Name Auctions, users must first sign up for a GoDaddy Auctions membership. That begs the question: What is a GoDaddy membership? Simply put, it's your ticket to the whole GoDaddy Auctions experience. Members get access to advanced search tools and can place bids on premium domains, all for $4.99.

To get the domain you require, you first need to understand a couple of things to get started with bidding.

Types of bids on GoDaddy

The core bidding process remains similar to before:

1. Standard Bidding: Buyers can place bids on expired domains, with each bid meeting the minimum increment requirement.  For more information, check out https://www.godaddy.com/en-in/help/bidding-on-godaddy-auctions-domains-893.
2. Proxy Bidding: This automated bidding system allows investors to set a maximum bid and let the system incrementally increase their bids as needed.
3. Buy Now Options: Some Afternic listings syndicated to GoDaddy Auctions may offer immediate purchase options.
4. Offer/Counteroffer: This feature is now primarily handled through Afternic for syndicated listings.

There are also rules associated with the GoDaddy auction platform. 

Rules within the GoDaddy auction platform

1. Minimum Bid Increment: Each auction has a minimum amount by which new bids must exceed the current highest bid.
2. Reserve Price: Some auctions have a pending minimum price set by the seller. The domain won't sell unless bidding reaches this price.
3. Auction Duration: Buyers should pay attention to when auctions end. Some have fixed end times, while others may extend if last-minute bids come in.
4. Sniping Protection: To prevent last-second "sniping," expired domains are extended to 5 minutes if no bid is placed within 5 minutes.
5. Winning: The highest bidder, when the auction ends, wins, provided any reserve price is met.

7 Steps to Purchasing Domains Through GoDaddy Auctions

1. Set Up a GoDaddy Account: If you're not already a member, create an account on GoDaddy to start participating in auctions.
2. Join the GoDaddy Auctions® Membership: Invest in the membership for $4.99 to unlock access to the auction listings.
3. Explore Available Listings: Utilize the search and filtering features to discover domains that match your preferences.
4. Place Your Bid: Input your bid amount. GoDaddy proxy bidding system will automatically raise your bid in response to competing bids.
5. Stay Updated on the Auction Progress: Monitor the auction, especially as it approaches its conclusion, and adjust your bid if needed.
6. Secure Your Win at Auction Close: If you have the bid when the auction concludes, you'll secure ownership of the domain.
7. Finalize Your Purchase and payment for the domain using GoDaddy's payment methods: You have 48 hours to finalize the payment. Follow the transfer procedure to transfer ownership of the domain into your account.

Winning and Receiving Domains

If you win an auction or accept a "Buy It Now" offer, you'll typically need to complete the purchase within a specified timeframe. Once payment is confirmed, you'll receive the domain name. 

Payment is usually made in USD through GoDaddy's secure system. Once the transaction is complete, the domain is transferred to the buyer's GoDaddy account.

Advantages of Domain Auctions

Domain auctions offer several advantages:

• Competitive Pricing: Auctions often lead to competitive bidding, resulting in lower prices for buyers.
• Wide Selection: GoDaddy Auctions boasts a vast inventory of domain names covering various topics, increasing your chances of finding the perfect match.
• Opportunity for Profit: For sellers, auctions can be a lucrative way to monetize unused domain names.

Tips for successful bidding on GoDaddy auctions in 2024

Optimizing Your Bidding Strategy

• Set Realistic Expectations: Expired domains can be competitive. Set realistic expectations for prices, be prepared to counter, and don't overbid.
• Utilize Bidding Tools: Explore tools and software designed to help you track offer listings and domain auctions, analyze data, and automate bidding processes.
• Monitor Auction Trends: Monitor auction trends in detail to identify specific bidding behavior and pricing patterns.
• Diversify Your Inventory: Don't put all your eggs in one basket. Bid on various domains to spread your risk and improve your chances of success.

Leveraging Data and Analytics

• Domain Appraisal Tools: Use domain appraisal tools to estimate the potential value of expired domains.
• Keyword Research: Understand the keyword potential of the domain to assess its commercial value.
• Auction Analytics: Analyze auction data to identify trends and list opportunities.

FAQ’s

What happened to GoDaddy Auctions in May 2024?

GoDaddy Auctions underwent significant changes on 29th April 2024. The platform is now primarily focused on expired domain auctions, with a reduced emphasis on Member-to-Member listings.

Can I still buy domains on GoDaddy Auctions?

Yes, you can still purchase domains on GoDaddy Auctions.

 However, the primary focus is now on expired domain auctions.   

Can I still sell domains on GoDaddy Auctions?

You can no longer add new domains for sale on GoDaddy Auctions through Member-to-Member listings. However, Afternic-listed domains will continue to be syndicated to GoDaddy Auctions.   

Where can I sell my domains now?

Afternic is now the primary platform for selling domains. You can list your domains for sale on Afternic, and they will be syndicated to GoDaddy Auctions for broader audience exposure.

What happened to my existing Member-to-Member listings?

All Member-to-Member listings (including Buy It Now, Offer/Counter Offer, and 7-day public auctions) were removed from GoDaddy Auctions on May 13, 2024

Can I still access the domain records I have sold on GoDaddy Auctions?

You could download your sold domain records before May 13, 2024. However, access to the "Sold" page has been limited.

Conclusion

With this massive change to the GoDaddy auction platform, investors should approach this new landscape with a keen eye for expired domains that have potential for development or resale while also considering the Afternic listings for more premium or immediately brandable options. The auction process for expired domains often moves quickly, so buyers must be prepared to act fast when they spot a valuable opportunity.