Most popular auctions with expiring domains are at godaddy, namejet, snapnames. Search for expired domains name its very easy if you have domains list. With a bit luck, you can drop good one with PR5 cheaper like $200, just need to know which domain have not fake pr. List of domains are not free, but updated dailly with aprox. 50.000 new expiring domain names.
I recommend Go Daddy premium and Afternic. Once you get it listed at those two places then do a redirect so that anyone who types the URL goes to one of those two, for-sale pages. I would suggest a price of $500 to $2,000. You might get lucky and attract a buyer in the next year or two. After two years, if it doesn’t sell I would just stop renewing it.

There are currently two main types of domain speculators: those that buy domains, build sites around them, and then flip the domain and accompanying website, and then there are those that buy and sell domain names without web sites attached. While both can be very lucrative businesses, the second type is much easier for novices to learn, and as such, shall be the topic of discussion for this article. 
If your domain name is related to a particular niche, then you may find success by advertising in forums that are related to that niche. Simply placing a link in the signature of your posts can tremendously speed up the selling process. While it may be possible to find prospective webmasters on niche-specific forums, it is generally better to advertise on webmaster forums, where there is a high volume of potential customers.
The first thing you need to do is signup at Namejet in order to get your account (signup is free).  You can then use their search functionality to sort through all the upcoming domains for auction.  Place bids for $69 on the ones you want to go to auction for.  If you bid on 100 different domains for $69 each, and there is 50 bidders for each auction you need to understand you aren’t going to owe any money, you are not committing $6,900 to Namejet.  By entering that $69 you are getting an entry into the live bidding when the 30 days expire.  Only if you are the ONLY bidder on a domain would you automatically win the domain and owe $69 to Namejet.
The market-driven principles of the domain trade mean that a domain is only worth as much as the buyer is willing to pay. It is for this reason that criteria such as market potential and usability play such central roles in determining prices. Values can change immediatly and without any warning. The price of a domain that was once of little interest to anyone in years past can skyrocket once, for example, a newly founded company takes interest in that same name.
If your domain name is related to a particular niche, then you may find success by advertising in forums that are related to that niche. Simply placing a link in the signature of your posts can tremendously speed up the selling process. While it may be possible to find prospective webmasters on niche-specific forums, it is generally better to advertise on webmaster forums, where there is a high volume of potential customers.
The domain name industry is quite similar to the real estate industry in a lot of aspects. There are end users, brokers, consultants and domain flippers or “domainers”. Domain flipping works similarly to buying a house, renovating it (or even sometimes just sitting on it) and then selling it again at a higher price point. The gist of it is: you’re purchasing a domain name and betting it’s worth (or will be worth) more than you paid for it. If you’re right, you get a nice paycheck and move on. Those who make a living out of this just rinse, repeat, and scale.
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