Domain Name Auction Everywhere in the world, thousands of great domain names are expiring, and since thousands of domain name holders did not renew their expired domain names, thousands of people are also bidding for such terrific domain names. With this fact, the concept for domain name auction was born. In simple terms, the domain name renewal takes place when the current domain name registrant wishes to extend the term of time for a registered domain name. Accordingly, the domain name renewal can be done any time, however, it is often made within a few months of when a domain name's term of time is about to reach its due time. In a most concrete identification, the domain name registrars are actually companies that register domain names for those who love to own a domain name. And for everybody to comprehend the real nature of domain name registrars and the nature of their work and their role in domain name registration, one must then learn about the ICANN or the International Corporation for Assigned Names and Numbers. So for those who are planning to undergo for a domain name registration, some important things specifically about the basics or the ABCs of the domain name registration must be paid attention. Knowing the ABCs of domain name registration will help you to pick up the right domain name and at same time for an easy and smooth process of domain name registration. The primary intention for creating the system of domain name IP address is for the people to connect to other computers on the internet by just applying an easy to remember name instead of a particular IP address. So as result, it is therefore important that the domain name must have matching IP address for it to function correctly. org which stands for organization, and .net for network. For much emphasis, in the last few years, another set of domain name suffixes are approved and these include the .aero for the air transport industry; .biz for reserved businesses; .com for businesses, commercial enterprises, or online services; .