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That is, if I'm paying $500 for a particular domain, will I have ownership over it and be able to sell it in the future if I choose to do so? Or, for example, if the domain name expires and goes to auction, would I receive the sale amount from the auction?

EDIT: What are some recommended registrars?

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If you're registration expires you no longer own or control that domain name. Assuming any grace period after expiration has expired you then are no different than anyone else who may wish to own the domain. You have no advantages over anyone else who seeks to own that domain. You also get no proceeds from future sales.

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But I can sell the domain myself so long as I do not let it expire? I don't see expiration as a major concern for me, but I also don't like the idea that if a domain expires, the company will just profit from selling it even though I already paid a premium price for it. –  Wolfram Oct 16 '13 at 15:32
    
Yep. If you own it, you can sell it. In fact, there are people who own domains strictly for the purpose of reselling them. –  John Conde Oct 16 '13 at 15:33
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The domain is yours to do as you see if as long as you pay the registration fee. You can re-sell, park it, or use it for a website.

If it expires, then you are no longer the owner and cannot earn any revenue from its expiration.

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Ok, that's along the lines of how I understood it to work. However, if my domain for which I paid $5k were to expire, I would potentially be losing $5k or more? And for that matter, if I was no longer interested in the domain, I could just sell it so long as I do not let it expire? –  Wolfram Oct 16 '13 at 15:29
    
Correct and correct. –  Edgar Quintero Oct 16 '13 at 15:42
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