First Time I overpaid for a domain name

[Arpit131]

"I think today is the first time that I bought a domain name at a drop auction only to find out later that the domain name was listed for sale as a BIN for less than what I paid for it.

I liked the domain name thinking its a perfect domain for a blog post business and would be a good resale. On DropCatch I paid $700 for the domain name, I later check the whois at domaintools and it says that the seller has listed the domain name for sale at $490 at godaddy as a BIN. I learned a big lesson today, never get into an auction frenzy without checking domaintools first"

Source: Domain Crunch

 

[NameClerk]

As soon as the domain drops, the Godaddy BIN price becomes irrelevant since the only way to get it is to back order it and win the domain auction at the platform that catches it.

 

[Grego85]

just kinda makes you think though, how did that seller not get the 490 for it when clearly there are people out there willing to pay even more for it. Its all about the exposure, you clearly don't get it with Godaddy, or many other auction platforms.

Selling domains is damn hard.

 

[Sam]

Quite common, expired names are always bought at a premium.

 

[Kate]

Sometimes, when you see a domain that is priced right, you should pull the trigger and buy.
If you procrastinate, somebody else could buy it. Or it could change hands from one domainer to another. Then the price will rise sharply. I have missed a few domains because I hesitated

 

[Asfas1000]

It seems even experienced domainers have started to pay end user prices (and higher) in those auctions nowadays...

 

[djum]

BuyDomains sometimes list free names at the site and sell them for few K.
Always do your homework, check if domain is listed at other auctions before you pay.

 

[FT1]

Good lesson.

 

[Reu Torah]

learn always from experienced domainers, listen what they say and how they do it. Experience teaches you and you learn from experience.

If you are interested in buying my domain gyaro.com let me know its BIN is $50 at auction.