Some New GTLD Website Domain Name Buyers Could Be Paying Thousands in Registration and Renewal Fees

WEST PALM BEACH, Fla. - Nov. 12, 2013 - PRLog -- A GTLD domain name news article on the DomainIncite.com domain industry blog reveal interesting information about the cost of buying some of the new GTLD names that are soon to be available for business use.

According to the article "There’s a provision in section 2.10 of the contract that is designed to “prohibit abusive and/or discriminatory Renewal Pricing practices imposed by Registry Operator.”

But the rule does not apply if you’re told at the point of registration that your renewal pricing will be higher."

The article goes one to state "What Box? and Plan Bee are the first two new gTLD registries to start selling domains with tiered renewal fees, in .menu and .build respectively, via Go Daddy.

If you pay Go Daddy $189.99 for a “Priority Rre-registration” in .build, your annual renewal fee if you secure the name will be be $149.99, instead of the $99.99 other pre-registrants will pay.

Similarly, a Priority Pre-registration in .menu will set you back $199.99 a year, forever, instead of $49.99."
Assuming this info to be true the cost for registering and renewing a .build name for Priority pre registrants would be around $3,000 over the next 20 years not including any upsell or add on business services.

Despite the inflated cost of some new GTLD domain extensions Scott Alliy President of Dotsperity a New GTLD consulting services firm and of domain name  reseller KetMo.com expects a flurry of pre registration and Priority pre registration buying activity to occur with each new GTLD launched.

"Competition for these names will come not only from competitive businesses says Scott but also from domain name investors as was the case with dotcom and other dot extensions like .net, .org, .edu, and more recently .co," says Scott.

"With all the unknowns I highly suggested that companies wishing to own one or more names in any of the hundreds of new GTLD extensions soon to be available retain the services of a qualified domain name consultant like Dotsperity.com or others," Scott says.

A qualified domain consultant can help buyers determine which of the GTLD extensions they should consider and which names within those extensions will best help them build grow and protect their business in line with their company mission and budget.