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I guess you are talking about a domain classified as "premium" by it's registry. I hate be the bearer of bad news but unless there's some kind of policy change it's not going to "come down" as sitting on it until the end of time costs them exactly $0.00. There's a ton of silly domains out there with massive price tags probably no sane person is ever going to pay but as long as some sell at those inflated prices the business model works.
Sometimes you are able to find a domain registrar that doesn't consider that specific domain premium.
Most of them do though, pure scam.
Which "premium" are you referring to?
Aftermarket "premium", or registry "premium"?
If it's the latter, it's very unlikely the price will change (or drop), as that's set by the registry
registry "premium"
I try to buy it from two places, spaceship and namecheap where the price is still normal (went to porkbun to check, cost few hundreds) and all failed to purchase, paid normally, and got a refund after 1 min.
Registrars don't have a say in this and if they accidentally list at wrong price you'll experience what you are describing.
So domain price should be same everywhere?
premium.me
PREMIUM
$500,000.00
Renews at $20.98/yr
It's set by the guys running the extension, so unless some registrar feels like donating the price difference to you (not going to happen) as some kind of charitable gift you are not going to get around the "premium" pricing. It's basically a take it or leave it type of deal. Either you feel the "premium" price is worth it or you'll have to look into alternatives.
Domain name mafia!