How and when to buy generic domain names

When and how should you buy an existing generic domain name for your business?

In Branding on the Internet I discussed what you should call your web site, the short answer is it should match your business name, the longer answer is in that article. Part of the branding article was about using additional “Generic” or product related domain names for extra qualified leads to your web-site, hopefully leading to more business.
My advice, then, as now was:

“You know your business and how well a sale does for you. If your average sale netts you $1,000 profit, then an extra domain name only needs to bring in one more sale every few years to pay for itself. If your average sale netts you $10 profit, then that extra domain name needs to bring in 4 or 5 extra sales a year to pay for itself. Stop and think what your potential customers will be looking for and try to find the right domain name(s) for them to find then register as many money making names as your budget allows.”

That article assumed you would be registering previously unregistered domain names, but what if the generic name you want is owned by someone else? Many people give up at this point, but it may well be that you can still acquire it.

How to change ownership of .NZ domains

There are three main "players" in a domain name. The registrant (the nominal owner), the registrar who sells the owner the domain name and the hosting service that provides web and mail services for it. When you buy a domain name, the owner definitely changes, and depending on the deal you strike, the other two players may or may not change.

.NZ Whois service deliberately broken

For some time the .nz whois service has been unreliable and for the last week or so I can use whois in the mornings before going to work but if I try to use it in the evenings I almost always get a "query_status: 440 Request Denied" response. I get this from the very first request.