There are thousands of domain names out there. If you are looking for one specific domain name, chances are that the domain name exists already. Premium domain names are names of those domains that are registered already by someone but can be sold to a buyer at a premium rate. Normally it has Shorter and Catchy names. In this way, you’d be able to get a domain name that is otherwise impossible to register. A domain name cannot be registered twice, that is an avid fact. Thus, premium domain names are considered expensive since they are in demand for the buyer. Thus they cost more than standard domain names.
Some people are of the opinion that unused domain names can be bought at a lower rate which is of no use to the seller. There is no grace period when buying an already registered domain name. You just would have to start paying the annual charges and cost of the renewal.
Talk to the domain expert at iNET Systems for more details about the premium domain names.