A closeout domain is a domain that has gone through an auction process but did not receive any bids. These domains are then available for immediate purchase at a fixed price for a limited period, typically around five days.
The closeout process operates on a declining price scale. The price drops every day until someone purchases the domain or the closeout period ends. If the domain is not purchased during the closeout period, it returns to the registry, and it may become available for general registration again.
It’s worth noting that buying a closeout domain is a final sale – there are no refunds or exchanges. Therefore, it’s crucial to be certain about the purchase before proceeding.
Closeout domains can be a great opportunity to acquire good domain names at lower prices. However, like with all domain purchases, due diligence is necessary to ensure the domain doesn’t have any associated issues like trademark disputes or a negative history.