domains Waiving redemption fees on .COM and .NET for 60 days. Can we #DoMore?

[Rob Monster]

Verisign and other registries are starting to step up to the plate and empower the industry with new incentives designed to help domain investors avoid losing their nest eggs.

There is news this week that Verisign will waive restore fees on .COM and .NET until June 1. This is a great step in the right direction. This becomes active on April 2 at 0400 UTC.

Although we don't know what policies other registrars will set, Epik will pass through 100% of those savings. Redemption fees will be set to ZERO for .COM and .NET during the program.

What more can the industry to to empower domain investors and digital entrepreneurs who are navigating a time of exceptional economic pressure where many are trying to #DoMore and #PayItForward?

More commentary here along with a video statement:

https://twitter.com/x/status/1245398098446295040

Kudos to all who are staying positive and hanging in there!

 

[Samer]

We do understand your concerns, the late renewal fee was introduced in 2017 to help balance the outcomes of our expired domain auctions. We try to be fair to both the original registrant of the domains and our auction users by giving the registrant their full grace renewal period even if the domain is purchased at auction. Unfortunately this did result in a large number of cancelled auctions and unhappy auction users, and as a result of feedback we received at the time we introduced the late renewal fee to encourage the renewal of domain names before they are listed for auction.

We have passed the feedback on to the team regarding the current cost of the restores, at this time the decision has been made to retain the fee to keep the cost of domain restore orders in line with the cost of renewing a domain during the expired auction period.

How does it reflect keeping policy during Corona times?

Already looks bad to begin, sad for @Dynadot

 

[alcy]

We do understand your concerns, the late renewal fee was introduced in 2017 to help balance the outcomes of our expired domain auctions. We try to be fair to both the original registrant of the domains and our auction users by giving the registrant their full grace renewal period even if the domain is purchased at auction. Unfortunately this did result in a large number of cancelled auctions and unhappy auction users, and as a result of feedback we received at the time we introduced the late renewal fee to encourage the renewal of domain names before they are listed for auction.

We have passed the feedback on to the team regarding the current cost of the restores, at this time the decision has been made to retain the fee to keep the cost of domain restore orders in line with the cost of renewing a domain during the expired auction period.

well people can still transfer out their domains.
i was just making point that you are losing tons of domains and or clients because no sane domainer will pay 10+8$ to renew your .com versus paying $8 to transfer it elsewhere...

so from what you say... it seems that you make conscious choice to lose all those domains and those people.. instead of just waving the fee.. and thus essentially retaining all of those domains/clients.. i do not see how this is benefiting anyone.

ty

 

[kandyan]

Just chatted with NameSilo - nothing more to add on their part it seems..

Time to move elsewhere?

 

[BlueJay]

Does anyone know if Verisign is still waiving redemption fees (for registrars, who can then waive the fee for registrants)?

The last news I could find about it is this:
blog.verisign.com/domain-names/two-month-extension-of-wholesale-restore-fee-waiver/

Because of the pandemic, they started the waiving in April (as discussed in this thread), and then extended it apparently to the end of July. But there's no news after May about it on their site, whether it's extending further, or at least a reminder for people that it would end in July.

Thanks

 

[korganian]

They must be cause I was just able to renew at normal cost a name that was in redemption.

 

[BlueJay]

Thanks a lot for replying

Yes, I still see a normal renewal price (for domains in redemption) at one registrar.

But at another registrar, they just changed their price today to a high redemption/restore price. I asked them about it this morning, and their regular-level support opened a support ticket about it so that their higher-level reps would look into... but then they didn't reply and their support hours are over now.

But I need to redeem a couple of domains today, so I'm hoping to find some confirmation that the redemption fees are still being waived. So then I can point it out to them and hopefully get a refund on the extra, and get some other redemptions done at a lower price.


Also, does anyone know how much Verisign charges registrars on their end for redemption/restore fees? (like the "wholesale" price they are charged) I think I remember reading a long time ago that it was $40, but not sure, and it may be out-of-date.