What exactly is a 'second tier' domain name?

[shinysign]

Newbie question, I was wondering what exactly someone means when they say they bought a 'second tier' domain name?

I am pretty sure it means that it is a domain name that is not a .com, so second tier would be .net or .org domain names, and the others would be 3rd tier, but I am not sure and would like someone to explain this to me.

Thanks!

 

[Spade]

Ive heard this expression used a few different ways. I ususally interpret it as not quite premium domain name, but still not a bad one.

So, in other words. Lets say you run a Watch business. Obviously Watches.com would be the ideal domain, but lets say you get - GreatWatches.com - not the best, but certainly good.

Justin