If you were one of the single applicants for a .CO domain, by now the domain name is sitting securely in your account at your registrar. During the landrush phase, you had the opportunity to submit an application before general availability began.
Now with the landrush phase closed and the general public snatching up thousands of .CO domains, those domains that received multiple applicants during the Landrush phase will battle it out at auction.
Though there is always high uncertainly with each new domain released to the public, reports of domains like e.co selling for $81,000 and o.co selling for $350,000, it doesn’t take a genius to predict that .co domains headed to auction (particularly coveted keyword and product domains) will fetch price tags in the thousands.
According to the .CO website:
Multiple Applicants: If there were several applications for a .CO domain name, all of applicants for the particular domain will have the chance to participate in an auction for that domain. Only applicants for the particular domain will be eligible to participate in the auction for the requested domain.
Auctions Notices & Scheduling: Notices for auction scheduling will be sent no later than July 30, 2010 requesting applicants to sign up for the auction site. Notices for auctions will be sent from service(at)COAuctions(dot)co. Auctions will be scheduled during the first 3 weeks of August and will last 7 days. Once an auction ends and payment has been completed by the winning bidder, the domain will be awarded within 10 days.