This past week a web development company, in charge of the George W Bush Library website, purchased the domain for the site for $35k. Yes, you read that right. $35,000. They actually OWNED the domain after purchasing it from a domain holding company, originally, for $3k.
Yuma Solutions let the domain expire and another company picked it up. They could have filed a lawsuit or at the least, filed a UDRP. But, they didn’t. They simply forked over $35k and purchased the domain back.
Maybe to them, the tale has a happy ending, but to many, that option is out of the question. So, let this be a simple lesson to you. If you want to make money online, you need the domain that brings your audience to their destination, and to do that, simply make sure you RENEW.