A domain name auction is an easy way to get the name you want for your site at a very low price, and oftentimes a lot quicker than waiting for the name to become available once again to the general public. Sometimes, it is the only way to get that special domain name that will take your site to the next level.

Domain auctions are pretty easy to understand. When domain names expire, they are put up for auction. Some of them you can buy immediately, and some you can go to auction with. Some web hosts will even allow you to make a bid on an already owned domain. You just need to contact the host, and the host will put your offer through to the owner. The bottom line is that with a domain auction feature on your favorite host, you are giving yourself many more options when it comes to getting the domain of your choice.

Most major web hosts offer some sort of domain auction feature. GoDaddy (www.godaddy.com) has one of the best auction venues out there. The downside is that to gain access to this feature, you need to buy a yearly subscription, but at $4.99 per year, this is a very slight setback, especially if it means that you will soon have the ability to purchase the domain name of your dreams. And of course, if used correctly, this has the potential to make that $5 investment more than pay for itself. You don’t even need to be a member of the site to look at the ongoing auctions, so if you see something that you like, you can always wait to sign up until action becomes necessary.
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GoDaddy also has some great tools that will help get you a big advantage when it comes to auctions. For example, you can monitor any .com, .net, or .org site anywhere, even if the site is located on a different host. If something changes with the ownership of a site you are monitoring, you will be the first to know and be able to take action if it is wanted. But when you work with GoDaddy, you can also pay special attention to other GoDaddy sites, even if they have not yet expired yet. You can opt to get exclusive information on the sites that you are interested in and become specially prepared to make the best decisions for your new site.

Creating a new website is tough, but having a top quality domain name can help a lot. People tend to not remember the names of sites that aren’t simple and self-explanatory, so if your goal is to attract business to a site, searching through the available names to find something useful is very important.

Of course, this works both ways. If you want to get rid of your site, you can always put it up for auction voluntarily and hope it does well. This can be a valuable tool if your host offers this option. And if they don’t you can switch hosts to one that does, and auction it off there. Just like a traditional auction block, you will be able to set your starting price, and things will move forward from there. If you need to get rid of a site quickly, this is a great choice to have. One of the great things about using GoDaddy for this feature is that they have low costs and a huge pool of interested parties. They even have a premium package that will give your current site more exposure and increase the likelihood that it will be sold for a beneficial price.