Every business needs a catchy name to grab its target market’s attention. However, all the good names seem to have found their owners. On top of that, with 4.41 million startups going online as of 2020’s fourth quarter, getting the perfect domain name may be tricky.
One of the best solutions to that problem is by securing a premium domain name. While the price may get a little expensive, it’s a worthy investment as it can positively affect your branding.
If you want to know more about premium domain name purchases, read on. Throughout this article, you will learn what a premium domain name is and how to buy it.
What is a Premium Domain Name?
Unlike regular domain names that are available to buy from any domain registrar, premium domain name refers to those that have already been owned by a person or a registry.
Premium domain names are usually short, unique, and easy to remember. On top of everything, they’re highly brandable. Thus, they may help companies stand out from the competition and rank better on the SERPs (search engine result pages). That’s why premium domain names can cost drastically more.
Moreover, entrepreneurs often invest in these names due to their lucrative value. Meaning, they’ll hold onto the premium domain name until its demand increases, raising its price.
So, once you find the perfect domain name for your company, it may be best that you buy it before it gets more expensive.
How to Buy a Premium Domain Name
Premium domain name owners usually put them on sale at premium domain name marketplaces. The process is similar to buying a standard domain name, but it requires some additional steps.
Here’s what the process of buying a premium domain name looks like.
1. Find the Right Premium Domain Name Platforms
Finding a reliable premium domain name platform can be testing. Each platform has its own method of selling the names. Some provide direct sales, and some others sell their premium domains through auctions.
Direct sale domain names usually have a Buy Now tag. Thus, all you need to do is click the button and complete the payment.
If your desired name falls in the Auction category, the process may include placing a bid and watching it throughout the auction period. This is to ensure that your offer stays on top.
For that, a broker service is a great feature to look for. It delegates a professional to:
- Help negotiate with domain owners (if possible).
- Watch the auction process.
- Take care of the premium domain name’s payment.
Additionally, reading customer reviews about the platform helps determine if it’s reliable.
2. Browse the Listings
Once you get into your chosen premium domain name platform, go to the Domain section to find all the premium domain listings for sale.
Here’s how some of the reliable premium domain name platforms organize their listings:
- Allows you to filter domain names based on their age, price, and extension. It also lets you purchase an entire online business which includes a professional website, app, and content.
- Offers four categories of domain listings based on the sales-type: Buy Now, Negotiable, Marketplace Auctions, and Expiring Domain Auctions. It also grants domain name search. By inputting keywords and choosing extensions, you’ll get a list of premium domains.
- com. Search specifically for premium domain names by going to Domain -> Premium Domains. If your desired domain name isn’t available, scroll down to the bottom of the suggestion lists to find on-sale premium domain names.
Additionally, be careful as some platforms provide website-and-premium-domain bundles. Therefore, double-check your cart before making a purchase to make sure there are no additional services you’re being charged for.
3. Do Due Diligence
Due diligence refers to further investigation before making a final decision and signing an agreement. This process is vital when buying a premium domain name, especially if someone has used it before.
Previously-used domain names may have been blacklisted or have bad reputations. If you end up using one, you may have a hard time earning your target customer’s trust. Thus, researching your selected domain name’s background helps make sure it’s safe to use.
Here’s how you can research your domain name:
- Checking the Whois database. It shows you the historical data of a domain, including when it was created, by who, when it was last renewed, and what DNS changes were made.
- Conducting a domain health check. This process helps find out if your chosen domain name has ever been used for malicious activities. For that, you can use tools like Mxtoolbox.
- Reviewing USPTO trademark archives. Prevents potential legal issues as it tells you if the domain name has been trademarked or patented by a specific entity.
4. Place the Order and Make the Payment
If your domain health check goes well, you should consider making a payment. You just need to follow the platforms’ guidelines for this stage. But, here’s how it works in general:
- Add the domain to your cart.
- Sign up for an account if the platform doesn’t support guest checkout.
- Input your contact information.
- Process the payment.
5. Register the Domain Name
After purchasing a domain, you’ll have to register it. It’s an essential step to take, as getting a domain isn’t a one-time purchase. Domain registration retains your domain ownership as long as you renew it annually.
For domain registration, you’ll need a domain registrar. The service helps reserve the domain for your use within a specified time. When registering, you’ll sign a domain lease. Once all the stages are completed, only then may you use the domain for your needs.
To note, registering your domain to an ICANN accredited domain registrar is vital. This is to ensure your name is recorded in the valid internet database of assigned names and numbers.
Premium domain names have higher prices than regular ones. However, many business owners are after premium domain names due to them being highly brandable.
Here’s a short recap of how to buy a premium domain name:
- Find the right premium domain name platforms. Apart from reliability, getting the right platform depends on how comfortable you are with the features it provides and the sales type it offers.
- Browse the listings. Utilizing filters helps specify the search results. If you have a domain name idea, some platforms may also grant you to check the name’s availability.
- Do due diligence. This process helps make sure you get the perfect domain without any bad records from the past.
- Place the order and make the payment. Once you’ve made sure the name is safe to use, you’re ready to claim it.
- Register the domain name. It’s about retaining domain ownership. When doing it, make sure to use an ICANN accredited registrar’s service.
We hope this simple guide will help ease your process, and good luck with your premium domain name search!