A new service is being launched under the name Expire.com by TurnCommerce Inc., operators of brands NameBright.com (an ICANN accredited domain name registrar), HugeDomains.com (a domain name aftermarket), and DropCatch.com (a domain back-order service).
This service auctions off domain names in a 5-day “step-down” process that is best known as a Dutch Auction.
TurnCommerce Inc., announced the launch of Expire.com, a Dutch-style auction service that will sell between 15 and 30 premium domain names per day on a first-come first-served basis. A Dutch auction is a type of auction where the initial price starts off at a pre-determined amount and is lowered until a bidder accepts the current price.
Expire.com will list domain names at $500, and the price will be lowered by $100 each subsequent day if it does not receive a bid. After an auction starts for $500, and if it does not sell, it will drop in price to $400 on the second day, $300 the third day, $200 the fourth day and $100 on the final day before the auction ‘expires’.
Initial inventory of domains will be provided by HugeDomains, which include thousands of domain names.
Andrew Reberry, co-founder of TurnCommerce, Inc., said, “Many domain investors will find some outstanding deals on the Expire.com platform, but you will have to act fast to win these highly sought-after domains.”