Protip: A domain auction happens when a domain has expired and there is some demand(me) for the name. If no one bites, the domain bites the dust and becomes freely available once again. The winner of a domain auction still has to pay the yearly fee for the name. It's like taxes.
Hwah, you don't need them, Cats! You're a strong independent web-savvy person of internet fame, who doesn't need an old domain name! Also, $69 dollars is a rather interesting starting bid.