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07|03|2008 05:47 pm EDT

Bido Says ‘Bye’ To Guaranteed Auction Sales Price

by Chad Kettner in Categories: Up to the Minute

After a couple weeks of domain name auctions, Bido – the company that auctions 1 name per day – has decided to no longer offer a guaranteed sales price to sellers.

Looking at domain submissions we learned that if you state that you are willing to give a guarantee if certain guidelines followed, domain owners will submit anything and everything for your consideration,” said Bido cofounder Sahar Sarid on his blog, “mostly outside the boundaries stated.

From now on, all Bido domain auctions will start at $1 and have no reserve price.

[via Domain Name Wire]

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8 Comments

DM

July 3, 2008 @ 8:16 pm EDT

Sounds to me like they were losing money on this idea. They market every domain on their website like it’s the next Sex.com and it’s not. 1 hour open bidding? Auction markets have proven that the longer an auction runs, the higher price it will receive. They’re duping the owners who just don’t know better. $1 Reserve? Big deal. It’s so irrelevant. Why not start the reserve at a penny? Or Zilch? It’s an insult. 1 High quality domain name per day? I think any reasonable domainer knows that most of their domains are low quality, with a few of the owners very own domains mixed into the bidding to help elevate an already silly concept. Go to a drop site if you want to bid on quality domains. Bido is just one domainer who happens to own several premium domains trying to throw his name around. I’d imagine some of the early founders didn’t hang around once they realized how silly the concept was and once they saw the domains that were planned for auction

Rockwell

July 3, 2008 @ 8:56 pm EDT

boxingboots.com – hmm. According to a bido.com expert, “I have been around the martial art community for 20+ years and have never heard of a boxing boot for boxing, traditional martial arts or MMA.” Compelling domain, but I think I’ll wait for handskis.com, or perhaps elbowhats.mobi.

Or I could wait a few days and bid on UTQ.com. “Some abbreviations that may be used for UTQ are the following: University of Toronto Quarterly, Uniform Threshold Quantizer, Uni

DM

July 3, 2008 @ 11:09 pm EDT

Rockwell, I spit my coffee out when i read your comment. Well put.

Brian Benko

July 4, 2008 @ 9:09 am EDT

Good stuff Rockwell…

DM

July 5, 2008 @ 1:48 am EDT

As most predicted, AutoFilms.com was a total dud closing at $15. Looks like Bido had hoped some potential buyers would be stupid enough to bid the domain up because the domain is being sold on Bido. If this wasn’t a wake up call, I’m not sure what is. They have a platform, but be practical. Make the domain auction run at least 24 hours. Don’t allow in-house domains to appear on the site, obviously because the Bido employee has access to the user’s high bids, and current place in a shell bid just below a user’s max bid that would inflat the price. It all seems so wrong. The easiest fix, would be actually listing premium domains.

Sean Stafford

July 8, 2008 @ 10:03 am EDT

Hey DM,

You raise some good points here and I would like to address, or at least clarify, some of the processes.

Before, when we had the guarantee, we allowed the house to place one bid. Now, the house is no longer able to bid at all. Sahar, myself, anyone who works for Bido.com, or family memebers..etc, cannot bid on domains. There is no exceptions to this rule.

Moving forward, we intend to list more and more non-house domains provided our members trust the market enough to list domains with no reserve and bidding starting at $1. We have a few in the works already and will be listing them soon.

If you have any questions please feel free to email me sean (-@-) dnzoom.com or feel free to post back here and I will follow up.

All the best!

Sean Stafford
http://www.dnzoom.com
http://www.bido.com

ABCproductions

July 19, 2008 @ 2:16 am EDT

i’m late to this party but rockwell’s comments are new to me…and FUNNY!
good work rocko.

Deependro

August 1, 2008 @ 9:32 am EDT

Hello Sean Stafford,
It is a positive step that bido will be running more of non-house domain . I am sure people are more excited and more people will participate in an auction . I wish all the best for Bdo .
I will like to offer my domain to be listed in an auction please comment if it’s good enough :-)
http://www.organicdairyproduct.com
http://www.designerknife.com
http://www.seacargo.org
http://www.kosherfoodsupplier.com
http://www.adsgazette.com

Sincerly
Deependro

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