How exactly does NameJet and Prerelease domains work?

[The Grinch]

I'm confused about NameJet.
i've been using Godaddy Auctions for grabbing expiring soon to drop domains, and i was wondering if eNom had something similar, and i found NameJet.

I found a domain on there i've been trying to get for a while. It's status is PreRelease Auction. And no one has made a bid, i doubt that they will.

There are 18 days left of the auction, and then i guess it goes to pending delete or something?

The domain expired on feb 15th. NameCheap has a 27 day grace period, but that time, plus the left over days of the auction don't add up to what the entire redemption period and such is, which confuses me.

The FAQ doesn't really say that much.

So if i make the min BID on a PreRelease domain which seems to be $69, does that mean it's mine at the end of the auction time? and i can use it? Or do i still need to wait for the normal redemption period to go through its process?

NameJet says that if i win an auction there is a 42day lock on the domain, which means i can't change the whois (from what it is on the bidders account), also can't transfer it to another account. Which makes me assume i'll have control over it and can use it, i just cant modify the whois or change accounts. Is this correct?

Also is it even like Godaddy Auctions? If i grab a domain on there, its put into my account and is never actually deleted. So the age of the domain stays intact. Is it the same at NameJet?

Does anyone have any info on this?
I've never used Namejet before.

thank you!

 

[Kate]

If you buy a prerelease domain, it does not go through the redemption process. So it retains its age. Technically it didn't even expire, it's just that the renewal wasn't paid for.
The previous owner may still redeem the domain after the auction took place, that depends on the registrar.
If nobody bids on the prerelease domain, the registrar will usually (*) let it go into redemption and it will ultimately be deleted and become available for registration again. But dropcatchers could snatch the domain as soon as it released.
In prerelease the domain is still under the control of the registrar.

I say 'usually', because some registrars keep certain domain names.

 

[The Grinch]

^ so if i win the prerelease domain it goes into my account after the auction?
So if i made the only bid on this prerelease domain which is $69, then tits mine in 17 days?

Godaddy expiring domains go through redemption period, but right before they are supposed to be deleted they go into your account, so they don't lose the age.

Thanks for your reply :D

 

[Keith]

So if i made the only bid on this prerelease domain which is $69, then tits mine in 17 days?

If nobody else places a bid before 17 days pass then yes, you get it. The current owner can still renew though.

 

[The Grinch]

Alright thanks much :D

 

[Al Cohol]

The current owner can still renew though.

The original owner can renew while the domain is in "Auction Lock" after you win it in auction?

I'm guessing Namejet reimburses you the auction cost if this happens?

Makes no sense that a company can auction a domain name, when there is still a window that the owner can renew the name.

 

[austainfgh]

Nice Post ..... All you guys have provided very important information. Thanks a lot...