News of a new price structure at the GoDaddy expiring auctions was *cough* leaked *cough* earlier today.
The bottom line is that the price hike serves as a motivation for those that want to get the domain to pony up more cash, as opposed to mere “collectors” of domains aka domain flippers, and those that utilize an API to cherry-pick dozens and hundreds of domains at bargain prices.
Let’s face it, GoDaddy is now making the game more interesting as “huge domain” 😀 bidders will see their cost increase substantially.
So what are the juicy details on the closeout auction changes, directly from GoDaddy?
On February 1, 2021, prices on Closeout Auctions will change as follows:
Why are prices going up and what else is changing?
- GoDaddy is aware of the competitive popularity of the closeout auctions, with domains being captured within seconds of moving to the closeout section. GoDaddy will be still providing some of the lowest closeout prices in the industry.
- By adding a higher price first, it will limit the potential audience who want the domain on the first day. This will give customers a better opportunity to buy domains they value at a still competitive price.
- Expiring minimum bidding still remains at $12 dollars for 10-day auctions.
GoDaddy provided the following simple yet descriptive diagram that explains the flow of the process – each dot represents a day:
