Hi, I hope this is the right community. I want to get a domain name for my own Lemmy instance. The one I have in mind is on auction on sedo.com.

I have no experience with acquiring a domain via auction. Is the price a one time fee for transfering the domain, and then the usual yearly fees (as for that TLD) applies, or is the price meant as yearly fee? I tried to find some info on this on the auction site but have not found a sufficient note.

Has anyone of you bought a domine name like that? Thanks for your help.