RedemptionPeriod Rip-off?

[Highway of Life]

Hello folks,

I'm hoping sombody can help me with this...
One of my domains that I had registered under Yahoo (for $9 per year) just expired.
I thought it was supposed to automatically renew, as all of my other domains renew automatically. However, this domain is still in REDEMPTIONPERIOD status.
So I contacted Melbourne IT regarding the domain, and here is their response:

Thank you for contacting Melbourne IT.
Your domain has been tagged for deletion at the registry. The status of your domain name is now in REDEMPTIONPERIOD.

Explanation of REDEMPTIONPERIOD status:

Once a domain is tagged for deletion at the registry, it enters a 30 day "Redemption Period". Whilst a domain is in its Redemption Period we are able to recover the domain for you and restore the original license holder details and administrative contact details.

The cost involved in recovering a domain that is within its redemption period is $USD155.00 or $AUS310.00. This fee includes a 1 year renewal.

If the domain is not recovered during this period, it will be made publicly available for registration at which point you may attempt to register the domain again.

If you wish us to recover the domain for you, please fill out the attached form and fax it back to us alliteratively you can e-mail the form to (...)

Now does that sound like a rip-off to anyone?
It sure seems like it to me, but what can I do?

Thanks,
Highway of Life

[names24hrs]

Forget $155 man that's crazy!

Just go backorder it for $18.95US at
http://www.names24hrs.com , get it back
and then lock it! The default there is auto-renew
so this doesn't happen again. Then in a year,
auto-renew at 8 or 9 bucks, maybe less by then!

WOW! They are nuts :O

[Grokodile]

Originally Posted by Highway of Life

Hello folks,
The cost involved in recovering a domain that is within its redemption period is $USD155.00 or $AUS310.00. This fee includes a 1 year renewal.

Wow. What a racket! I suspose the folks you host with are happy to have you think that the domain will auto-renew aren't they?

Anyway, I guess it all depends on how important the domain name is to you. In some cases the peace of mind and the value of the domain will make the fee small in comparison. You can only decide that for yourself.

Whatever you do, in the future, find and use a registrar that isn't going to hose you like this. You'll want one that has simple auto-renew settings and a simple way to check on the status and dates and so forth.

Good luck!

[nerdbyte]

Domain Redemption is a blessing but a great money maker for the companies. It's happening everywhere.