I own a heating and air business which I started on a shoe string. I bought akinsair.com to build me a nice website. I had renewed it for 2 years in a row and when things got slow in the spring I didn't have the money to renew at the time. A couple of months later I had the money to renew and they had it available for $ 2,500 when I normally renewed for $ 14.99. That is a huge difference. Godaddy extorts customer that have financial problems and have to save up to renew. I used to love godaddy and only did business with them but never again. I am sick of big corporations abusing there customers and now godaddy does it and I will never do business with them again. Why does godaddy make it impossible for the small business to have a slow 2 months and then think we would have a fortune to buy back my domain name for an outrageous price. Can anyone explain to me why godaddy thinks this is ethical and why they would do business like this.
Its really sad that they stooped to this level, they should not do business this way.
Actually, this is no fault of GoDaddy itself.
You see, there are people out there that buy and sell domains for a living. After a couple of years of traffic being driven to your site, your domain had tremendous SEO potential. Someone likely had a watch put on your domain so, when you didn't renew it, they snapped it up and put it up for sale as a Premium Domain.
This is a pretty common thing. People who own businesses, for whatever reason, let their domain go thinking they can pick it back up in a few months. That's not how it works, though. If you have any amount of substantial traffic, someone will grab it and they will sell it back to you at an exorbitant price.
GoDaddy didn't do this, though. The domain was bought by a domain speculator and now you have to pay the price if you want it back. I would suggest, in the future, that you also purchase the Protected Registration feature from GoDaddy when you purchase/renew a domain. This will keep the domain registered to you for up to a year of non-payment. That way, if you're having a rough time financially, you have some time to purchase it.
Again, this isn't a GoDaddy thing. This is a someone saw your domain was up for grabs, bought it, then put it back on the market hoping you'd pay the big price for your small mistake. It's sucks but it is a reality of domains and hosting.
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I really feel for you bud, that's harsh. But as stated by MrVapor, it's not GoDaddy doing this it's a company by the name of HugeDomains.
I guess this is one of those sh*ty life lessons. Your domain is part of your business and unfortunately there's someone out there ready to screw you for it!
So, even though GoDaddy is no saint, your hate should be directed towards HugeDomains. They are the the ones that legally snatched the domain name you once owned.