Photo - Brannans.com

The auction, held using proxibid software, had great potential to rock the domain name market but did not really up to the hype.

It left a lot unsold, and that doesn’t mean one of “the lots” put up for sale. This isn’t too surprising since the internet is apparently bulging with domain names.

Out of the 184 domains that were available at the auction, all but 8 ended up unsold with the reserve price unmet. California.com, with a reserve range of $3-4 million, was one of the domains whose reserve price was not met.

Digital.com likewise went a-begging with a reserve range of $1-2 million. Also on the list were Connecticut.com, InstantCash.com and MusicVideos.com, all with a reserve price range of $500k – $1 million. Even Redmond.com didn’t find a buyer for the reserve price range of $50,000 to $100,000.

The eight domains which did find buyers snagged a total of $34,000. The one which got the highest bid was BalletShoes.com, with a reserve price of $5,000-$10,000, which sold at $13,250. The winning bid for BoozeCruise.com was $8,250 (reserve $5,000-$10,000) while hu,net which did not have a reserve price was sold at $6,250.

There are two ways to look at this first auction on Brannans.com. You could appreciate the fact that Brannans managed to put up such high quality domains for sale that buyers didn’t have pockets deep enough to bid for them. This bodes well for the future, as more deep-pocketed buyers and sellers gravitate towards Brannns.

On the other hand, the practical results – $34,000 in auction proceeds, is really on the lower side given all the hype. If it continues like this, the next domain up for auction will be Brannans.com.

Afternic, a domain buy and sell site reported that Puzzle.com was sold to an staggering amount of $500,000. It is actually the same amount that Facebook got for its initial seed funding form a venture capital angel. The amount for a single domain is actually enough to come up a tech start up or internet company but in this case, we are just talking to a domain name. A domain with no contents, functionality or product and service to offer yet. Of course, the new owner of the domain will be utilizing it for  maximum profit and with the name puzzle.com, it is guaranteed to attract bandwidth and traffic.

Here is the top 10 Domain name sold with a high price:

Domain selling and buying can actually be a good business venture, with the promo codes and discounted domains, you can stack up domain names and sell it to buyers who needs the domain names for a higher amount and domain registration will just cost you a couple of dollars.

You probably had encountered the same situation and had asked yourself the question, “Why is there such a thing as domain name auction?” Well, to answer that let’s first define domain name auction.

A domain name auction is the buying and selling of existing or already registered domain names from an owner who wants to sell the website even if it hasn’t reached the expiry date. You can also use a godaddy coupon at a domain registrar like go daddy for auctions as well. Just like the usual auction, the highest bidder wins. Usually, the domain name auction is being hosted by a trusted site that lists multiple site being auctioned and is also being facilitated by a payment platform to ensure secure transfer of funds and domain properties from the seller and the bidders.

Why is there such a need of domain auction? Domain auction is important because it gives you the chance to own the domain name that suits your specific needs. But the downside of domain auctioning is that some purchase domains with the purpose of selling them in the future, this is called domain name warehousing. With the rise of Search Engine Optimization (SEO), the need to register an own name that reflects the specific niche or subject matter of the site also rises thus causing massive domain name purchase and registration.

So if you want to secure you name as the domain name, get yourself a domain name before you see it in the auction site or if you have an eye of business, why not purchase loads of domain names that is attractive then auction it.

I’ll give you a tip, you can actually save on domain name costing by being a reseller, top domain name providers such as go daddy allows you to be a reseller of domain names and with hosting services that allows you to sell domain names or register you own domain names as many as you want. The fee is minimal but the revenue is high.

So my advice is, grab yourself a domain name now!