IncognitoNet
Joined: 20 Aug 2004
Posts: 69
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| Tucows to Launch Domain Auction Service |
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Source: http://www.webhostingzine.com
Tucows to Launch Domain Auction Service
Tucows is planning to release a new auction service for reselling expiring domain names, later this year.
Tucows (tucows.com), a wholesaler of Internet services to Web hosting and Internet service providers, announced on Tuesday that it is planning to release a new auction service for reselling expiring domain names, later this year. "Presently, most registrants of expiring domain names are unaware of the potential value of their name and do not share in any revenue from the resale of their domain name," says Elliot Noss, president and CEO of Tucows. "We estimate that the resale of expiring domain names in the secondary market generates about $60 million a year in revenue. Tucows' new service will enable our registrants to get their fair share of this market." According to Tucows, the domain auction service gives registrants the opportunity to share in the revenue from the resale of their expiring or recently expired domain name while preserving all of their existing rights. Tucows said that under the service, it will share all proceeds from the auctions with the former registrant and participating service providers, giving the registrant receiving the largest portion. "Currently a registrant has approximately seventy-five days after the domain expiry date to renew or redeem their domain name," says Noss. "Tucows' new domain auction service will preserve the original registrant's right to renew or redeem their domain name, with the added bonus of being able to participate in the revenue if the name is resold after it expires. Currently, when most registrants allow their domains to expire, they never know if that name was subsequently resold in the secondary market and they don't share in that revenue." Tucows said further details about the service will be unveiled when the service is officially launched.
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