Does anyone have experience with domain auctions?

Hi, I hope this is the right community. I want to get a domain name for my own Lemmy instance. The one I have in mind is on auction on sedo.com.

I have no experience with acquiring a domain via auction. Is the price a one time fee for transfering the domain, and then the usual yearly fees (as for that TLD) applies, or is the price meant as yearly fee? I tried to find some info on this on the auction site but have not found a sufficient note.

Has anyone of you bought a domine name like that? Thanks for your help.

ransomwarelettuce, (edited )

While at it by experience, anyone knows if it's cheaper to get random domain, just for personal stuff, this way and how are the renewal fees set, are they related bid made, once a the time comes to it the fee, based on the interest shown, is calculated, etc ...

I have been using the github student .me domain for random stuff but once I get new project I was thinking to push the trigger on porkbun for one.

dookoo,

Once the domain is won through auction, it's transferred to you. You renew yearly with your registrar.

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