GoDaddy Closeout Auctions

Understanding GoDaddy Auctions

GoDaddy Auctions remains one of the world's largest domain marketplaces, but its focus is shifting. While it will continue to offer a venue for buyers to bid on expired domains, the market is evolving to prioritize the buy-side of transactions. 

As of May 2024, GoDaddy Auctions will no longer support new Member to Member listings, including 7-day public auctions, Buy it Now listings, and Offer/Counteroffer listings. Instead, domain sellers are being directed to use Afternic, a fellow GoDaddy brand, to list their names for sale. This change aims to provide sellers with better data and infrastructure tailored to give them the highest chance of selling while maintaining syndicated exposure to GoDaddy Auctions.

What are Domain Auctions?

Domain auctions are online markets where internet domain names are bought and sold through a bidding process. There are typically two main types of  auctions:

1. Expired Domain Auctions: These feature names that were previously registered but have expired. When a domain expires, it often goes through an auction process before becoming available for general registration.
2. Premium Domain Auctions: These involve high-value names that are put up for sale by their current owners. These domains are often short, memorable, or contain popular keywords, making them valuable digital assets.

Participants often use various strategies, including setting maximum bids, researching domain history and potential value, and timing their bids strategically to let them negotiate and secure desired domain names.

Benefits of Using Domain Auctions

Domain auctions offer several advantages for both buyers and sellers in the domain name market:

1. Access to Valuable Domains: Auctions provide opportunities to acquire premium or expired domain names that might not be available through standard registration processes. This includes short, memorable, or keyword-rich domains that can be valuable for businesses and individuals.
2. Competitive Pricing: The auction format allows the market to determine a fair price. Buyers might find great deals on domains otherwise subject to a much higher fixed-fee market.
3. Diverse Selection: Domain auctions typically present a wide variety across different industries, extensions, and price points, giving buyers more options to choose the perfect domain for their needs.

The state of GoDaddy Auctions® in 2024

A expired domain name will continue to be automatically listed on the GoDaddy expired Auctions website, providing a chance to acquire premium domains.

Syndicated Listings: Domains listed on Afternic will be syndicated to GoDaddy Auctions, ensuring a wide selection for buyers.

GoDaddy Closeout Domains: A Closer Look

The GoDaddy Domain Closeout Auction site will continue operating as before, delivering a final opportunity for an investor to purchase expired domains that didn't receive bids during the initial auction process. These domains will still be listed with Buy Now prices starting as low as $5, with the fee decreasing daily over a five-day term.

The closeout process remains unchanged

Start Price: Domains enter the closeout phase after no bids were placed during the auction, with a starting price as low as $5.00.

Price Reduction: The price will drop daily for 5 days until the domain is either bought or returned to the registry.

Quick Purchase: Closeout domains are Buy Now options, so buyers must act fast to get the domain before someone else does.

Navigating the GoDaddy Auctions Platform

GoDaddy's auction forum will continue to lead the way and offer an intuitive interface for buyers, allowing them to track auctions and bids easily. Users can still:

Browse and Search: Use advanced search filters to find the right domain based on keyword, length, and price.

Place Bids: Bid on expired names or buy syndicated listings from Afternic.

Manage Accounts: Once a domain is won, buyers can pay for it and move it into their GoDaddy account for management and renewal.

Tips for A Successful Bidder in GoDaddy Auctions

Here are some strategies for making the most of GoDaddy Auctions:

Research the Domain: Use tools like GoDaddy's domain valuation and third-party outlets to drill down into the data and estimate domain values.

Set a Budget: Determine a maximum bid before entering an auction to avoid overspending.

Track Closeout Domains: Keep an eye on closeout domains as prices lower daily.

Secure Your Account: Enable two-step verification for account security and smart transactions.

Buying Domains on the Go with the GoDaddy App

The GoDaddy app will allow users to participate in auctions, buy, and manage domains directly from their phones, ensuring they can stay on top of auctions and bids no matter where they are.

Conclusion

While GoDaddy Auctions is shifting its focus towards buyers and expired domain auctions, it remains a valuable tool for getting premium domains at competitive prices. Buyers can still take advantage of expired domain auctions and closeout opportunities, while sellers are encouraged to utilize Afternic to list their domains. This change aims to optimize the experience for both buyers and sellers in the domain marketplace ecosystem.