The registry is the owner and operator of a TLD. Registries have full control of their TLD namespaces, and are only governed by the customary laws of their communities and the industry regulator, ICANN. Registries have the ability to implement their own business models to grow their namespaces and monetize registry-owned inventory and premium names. Registries can also create and use unlimited domains for their own purposes.
Registries have the ability to hold back an unlimited number of domain names from public availability. These can be used by the owners for their own projects, sold through private transactions, or held for a future purpose.
Each auction has its own starting bid, which is the minimum amount required to participate for that particular asset. The asset will be sold, so long as there is at least one bid for the starting bid amount.