Product Overview: GoDaddy Auctions
GoDaddy Auctions is a platform provided by GoDaddy that facilitates the buying and selling of domain names, particularly focusing on expired and valued-priced domains. Here’s a detailed look at what the product does and its key features.
What GoDaddy Auctions Does
GoDaddy Auctions serves as a marketplace where users can bid on or purchase domain names that are expiring or have been listed by other sellers. The platform partners with various registrars to list a wide range of domains, offering opportunities for both buyers and sellers.
Key Features and Functionality
Auction Types
- Public Auctions: These auctions run for 7 days, allowing multiple buyers to place bids. The highest bidder at the end of the auction period wins the domain.
- Buy Now: Some listings offer a “Buy Now” option, enabling buyers to purchase the domain immediately at a set price without going through the bidding process.
- Offer/Counteroffer: Buyers can submit offers on domains, and sellers have seven days to accept or counter these offers. However, as of May 13, 2024, new Member to Member listings, including these types, will no longer be accepted on GoDaddy Auctions and will be transitioned to Afternic.
Bidding Process
- Proxy Bidding: GoDaddy Auctions offers a proxy bidding service where users can set a maximum bid amount. The system will automatically bid the smallest amount necessary to outbid other bidders until the maximum bid is reached.
- Bid Increments: Bids must adhere to minimum bid increment rules, which vary based on the current price of the domain.
Membership and Access
- GoDaddy Auctions Membership: To participate in bidding on expired and valued-priced domains, users need a GoDaddy Auctions membership. This membership provides access to exclusive features such as closeout auctions, the ability to bid on auctions, and the option to sell domains.
Domain Management and Tools
- Saved Searches: Users can apply advanced filters like inventory type, keywords, and more, and save their searches for quick access later. This feature also allows for email notifications when matching domains are found and the ability to export results to a CSV file.
- Watching List: Buyers can track domains they are interested in by adding them to a Watching list, which displays the current price, asking price, number of bids, and auction end time.
Auction Integrity
- ID Verification: To combat shill bidding and ensure auction integrity, GoDaddy Auctions has implemented an ID verification requirement for new members and may apply this to existing members if necessary.
Future Developments
- RISK Engine Integration: GoDaddy is enhancing its ability to monitor users and ensure auction integrity by integrating a new RISK engine that incorporates signals from across the entire GoDaddy ecosystem.
- Expanded Inventory: The platform is continuously expanding its domain inventory through new partner integrations and the addition of more TLDs, providing a diverse range of domains for buyers.
Changes and Transition
As of April 29, 2024, GoDaddy Auctions will no longer accept new Member to Member listings, including 7-day public auctions, Buy Now listings, and Offer/Counteroffer listings. These types of listings will be transitioned to Afternic, another GoDaddy brand, to provide sellers with better infrastructure for selling their domains. Existing listings will continue to run until their conclusion, but management of these listings will be handled via Afternic.
In summary, GoDaddy Auctions is a robust platform that offers various ways to acquire domain names, with features designed to enhance the buying and selling experience, ensure auction integrity, and provide a wide range of domain options.