Expired Domain Auction Frequently Asked Questions - cairodock

 

Expired Domain Auction Frequently Asked Questions

This support article covers many of the frequently asked questions we receive regarding expired domain auctions in our Marketplace. We recommend reading through these questions and answers prior to bidding on expired domain auctions.

What are expired domain auctions?

Many domains expire in our system every day. Per our expiration process, we allow a grace period for most domains of up to 31 days within which to renew expired domains. However, many domains are not renewed within that grace period and are therefore subject to entering the restoration period. Expired domain auctions occur between 5 days after the expiration date and entering the restoration period.

How long do expired domain auctions last?

Five days after domains expire they are available for bidding via auction in our Marketplace. Bidding continues until the auction ends. The end of the auction occurs upon the earlier of the domain being renewed and the auction time elapsing. To clarify, current Registrants are still permitted to renew expired domains up until the end of the auction. If you have bid on an expired domain and it is renewed, the auction will end and you will be notified. If the domain is not renewed and you are the high bidder upon the end of the auction you will receive the domain.

What is a Proxy bid and why should I use it?

Proxy max bid is optional but recommended. A proxy bid is the maximum amount you would be willing to pay to win this auction. After placing your bid if another bid exceeds the value you have entered, our system will automatically increase your bid to the next bid interval and keep doing so until you have either won the domain or hit your proxy bid cap. If the proxy bids of both bidders are set to the same amount, the bidder with the earliest bid wins the auction.

How can I bid and what is "bid range"?

Bidding on expired domain auctions requires an adequate account funds balance to cover the cost of your bid plus the cost of renewing the domain. We require an adequate balance to ensure that if you win the auction that you will be able to pay for it. This is important to protect the viability of our Marketplace since it would not be fair to other bidders to lose out on an auction to someone who cannot pay for their bid.

You will notice a few fields on the top of each expired domain auction:

• Account Balance
  • Your current total account funds balance.
• Credit Limit
  • The credit limit your account currently qualifies to receive. This limit is based upon a number of factors, most notably how long you have been a NameSilo customer. This number is automatically computed and cannot be negotiated. The longer you are a customer with order history (no chargebacks, disputed transactions, etc.), the higher your credit limit will be.
• Outstanding Bids
  • The total amount of bids you have submitted plus renewal fees for all expired domain auctions for which you are currently the leader (not including this auction).
• Domain Renewal
  • The renewal price for the domain associated with this auction.
• Bid Range
  • A range of the bid amounts you can submit for this auction:
    • The low end of the range is determined by the current bid price. Higher current bids require higher bid intervals.
    • The bid range is the amount ranging from the current bid price to the amount that is your account balance plus your credit limit, minus the renewal fee and the outstanding balances (your active bids in other auctions). To increase the max amount available for bidding you can add account funds.

When do I get charged if I win an expired domain auction?

If you win an expired domain auction, our system will attempt to deduct the amount (bid price plus renewal) from your account funds balance. If you do not have an adequate account funds balance, our system will try to also charge your account default credit card. If that does not work, we will next try to charge via an active PayPal Billing Agreement if one has been established.

If all of the above methods fail, then you will not win the auction. This would be a violation of our terms and something we strongly discourage. Again, it is not fair to other participants in our Marketplace auctions for people to bid on domains for which they cannot pay. If this happens, you would receive a notice from our system and any available credit that had been offered would be rescinded. If it happens more than once, you may be prohibited from participating in our Marketplace.

Do I need to pay anything other than the bid amount if I win?

Yes, if you win an expired domain auction, you will need to pay the bid price plus a one-year renewal for the domain.

Does the creation date of the domain change?

No, if you win an expired domain auction, the domain is moved to your account and the creation date of the domain remains unchanged.

Is the only registrar to auction expired domains?

No, many other leading registrars also sell expired domains via auction or other means. It is certainly not our intent to sell expired domains if the Registrant wishes to keep them. It is for this reason that we offer one of the longest grace periods in the world, provide an option for automatic renewal, issue multiple email reminders concerning expiration and also send notifications as soon as any bids are placed.