Bido.com - Social Auction Platform

[RJ]

NamePros welcomes BIDO as it's newest sponsor.

Check out Bido's revolutionary Social Auction Platform at www.bido.com
All auctions start at $1 with no reserve.

The list of upcoming auctions is here:
http://www.bido.com/Auctions

This is a discussion thread for comments, reviews and feedback about Bido and it's services.

 

[Cronus]

It looks like today the auction was buycheaply.com and it closed at $16. I wonder if they are just not getting any decent submissions, or if the Bido folks don't know how to evaluate domains properly? Sedo has dozens of great names in their current no reserve auction. I would think Bido could at least find one or two with all the attention they've been getting.

 

[Len]

I don't know if this has been previously suggested..... I think Bido would do much better if they ran an hourly auction from say 12:00PM - 5:00PM. This would allow them to auction 6 domains per day and give the buyers and sellers more opportunity.

This would also benefit the site as this would create more traffic between these times. I cannot see there being too much whilst the auction is not running.

 

[MediaHound]

Hi Ripley, we would rather not finger a specific date.. but as you asked for an idea, it will be soon. We have overshot dates in the past and I don't like it when that happens so we will try and avoid that when possible moving forward. Soon is basically all we are announcing at this time, but as we get closer to it, there will be more info announced.
As a side note, we're extremely grateful for the open arms awaiting us to produce the next large release of the Bido platform. Thank you very much for the support and thirst for more information from us. I wish I could say more!

 

[MicroGuy]

It looks like today the auction was buycheaply.com and it closed at $16. I wonder if they are just not getting any decent submissions, or if the Bido folks don't know how to evaluate domains properly? Sedo has dozens of great names in their current no reserve auction. I would think Bido could at least find one or two with all the attention they've been getting.

Agreed. The domain selection process may just be the downfall of an otherwise promising platform. Perhaps Bido should allow commentary on domain 'submissions' before they are actually accepted for auction?

 

[dotnom]

Indeed a voting system for names that they are submitted to bido could be beneficial for bido's staff because they will not only gain time but the same time increase the overall quality of their service easily.

(I even changed my sig to make them see one of my domains faster :tri: :D)

 

[MicroGuy]

At least we all have something to look forward to next week:

'AffordableTelescopes.com is a clearly defined product domain. The user knows what to expect when he visits this site. Telescopes are a big industry and this product domain would make a wonderful destination for a site that sell telescopes. Typical telescopes range in price from under $100 to over $5000, and so a website focusing on those that are affordable would be a valuable resource. Watch the video for a telescope buying guide.' :gl:

 

[Archangel]

A week's passed so let's crunch some numbers!

BuyCheaply.com 16
MyAstrologist.com 590
HipHopPhotography.com 28
DressOrganic.com 55
FixedLoans.com 5459
BarPictures.com 100
EquityGrant.com 810

Average sale: $1,008
Average sale not considering FixedLoans.com: $266.50

Highest sale: $5,459
Lowest sale: $16
Amount of sales over $500: 3
Amount of sales over $1,000: 1
Amount of sales at $100 or less: 4

Profits fir BIDO, at 8%: Less than $700

My assumptions for next week:

MyEntitlement.com: mid $xx at best
WinningPick.com: early/mid $xxx at best
MyCabana.com: mid $xx at best
JuryLaw.com: early $xx at best
AffordableTelescopes.com: early $xx at best
FlightDegree.com: early/mid $xxx at best
ComfortableChair.com: early $xx at best

(These are my perceptions and do not reflect any other entity's opinions)

BIDO is failing terribly. Jarred, what are you going to do to keep BIDO alive? At this poor rate, you'll be paying out of your pockets to keep is live. IF YOU'RE GOING TO CONTINUE THIS SITE, you need to otherwise only accept valuable domains or increase your percentage to like, 90% of the selling price. And actually, at this rate, 90% might not even help.

 

[bmugford]

I think it is just going to be hard at this point to get people with true premium domains to commit to a $1 start / 1 Hour / No Reserve auction.

Let's face it, Bido.com is for domainers and the biggest sales come from end users. While a company like SEDO has a vast majority of domainers, there are still several end user sales on there.

It might be a good idea to have some kind of reasonable reserves and/or starting prices for true premium domains, or extended bidding.

You could always have a premium domain with a higher opening bid. If it doesn't get an opening bid in say 10 minutes then it defaults to a backup option domain at the original $1 / 1 Hour / No Reserve model.

I would also open the auctions up to high end domains in respectable extensions at least net/org. There is no reason a premium .NET dictionary word or product related domain would not sell for good money on there. I think just leaving it as .COM only is limiting the options.

What you are ending up with is TwoWord.com medicore domains with no clear use, instead of premiums with clear uses in other respectable extensions.

BIDO's cut from BuyCheaply.com is $1.28, and I doubt that is gonna cut it long term.

Just my thoughts.

Brad

BIDO is failing terribly. Jarred, what are you going to do to keep BIDO alive? At this poor rate, you'll be paying out of your pockets to keep is live. IF YOU'RE GOING TO CONTINUE THIS SITE, you need to otherwise only accept valuable domains or increase your percentage to like, 90% of the selling price. And actually, at this rate, 90% might not even help.

 

[dotnom]

Interesting stats Archangel
I didn't follow up all the sales but now that i see them look pretty low

I believe that the "Power of 1" must be the "Power of 24" with one auction every hour

At least the "Power of 10" is already a TV Game
http://www.cbs.com/primetime/powerof10/

 

[Domainate.com]

I think it is just going to be hard at this point to get people with true premium domains to commit to a $1 start / 1 Hour / No Reserve auction.

Especially in a down market like this. No/low reserve auctions are a tough sell at the moment, and ironically when more and more people are probably in need of quick money too.

 

[DnEbook]

many comments the same as last time they tried

.... but they dont hear them it seems ?

 

[mtford]

Indeed a voting system for names that they are submitted to bido could be beneficial for bido's staff because they will not only gain time but the same time increase the overall quality of their service easily.

Ideally the voters would need to get a small cut out of the sale profit, as an incentive to vote for the best names (i.e. the voters would basically be shareholders). Otherwise, they may be tempted to make private offers on the best names, and keep them out of the public eye.

The domain selection process may just be the downfall of an otherwise promising platform. Perhaps Bido should allow commentary on domain 'submissions' before they are actually accepted for auction?

To satisfy our curiosity, I have started a new thread where we can voluntarily list all the names we have submitted to Bido: http://www.namepros.com/showthread.php?p=3332559. This should indicate whether the submitted names or the selection process are at fault.

 

[Earthian]

since they seem to want to keep the "power of 1" theme , here are some suggestions ...





- set the open bidding to "1 day" instead of "1 hour" ... the auction could end at 1 PM EST (or 1 PM PST) but the bidding would be open for the 22 hours before 1 PM and there would also be 2 hours after 1 PM for auction extensions (eg. 5-minute extensions if there is a bid in the last 5 minutes)

therefore ... auction basically opens for bidding at 3 PM EST >>> 22 hours open bidding >>> 1 PM EST end time >>> 2 hours for extensions >>> 3 PM EST (next day) new auction

by opening the bidding to 1 day (24 hours) they would open up the auction to more people since as it currently is they "exclude" (or "force" to enter max bid ? , which many people don't do) many asian bidders who haven't woken up yet at 6 AM ... as well as many Europeans that might have gone out by 9 PM at night and especially on Fridays










- raise the quality of the domains ... it is very important that the domains for the first weeks to be of high quality so that the high sales atract publicity and interest ... especially so that people with good domains decide to "risk" their good/better domains for the $1 no reserve start (since they would be convinced that with all the interest/bidding the auction will fetch a fair market value)










- add a database of 1 thousand domains with BIN prices chosen by the submitters , something like a sub-section of the 1 bido auction so as to compliment the bido auction and keep people on the site for more time searching for bargains

the domains would be selected by bido in direct correlation to their quality and to the suggested BIN prices so that the marketplace is interesting and competitive

as domains get sold more domains would be continually added so as to keep the 1 thousand domains theme

​

 

[Tribulatio]

I like the Bido concept, and I also appreciate some of the ideas submitted on this thread.

On the other hand, more and more, my feeling is that we always stay in a closed circle: primarily domainers selling to other domainers. How to break that circle? How to bring domain names to a wider audience of potential customers (beside the usual direct approaching of end-users)?

I think this is the direction in which our creative thinking should go. Just toying with ideas at the time.

In the meantime, Bido is a welcome player anyway, since it offers something different.

 

[Tippy]

I would also open the auctions up to high end domains in respectable extensions at least net/org. There is no reason a premium .NET dictionary word or product related domain would not sell for good money on there. I think just leaving it as .COM only is limiting the options.

Just my thoughts.

Brad

I was thinking the same thing, plus they could keep their whole "1" thing going, 1 Premium .com, 1 Premium .net and 1 Premium .org per day.

 

[gazzip]

I see they have listed ZJP.com for sale on Bido, should be interesting to see what it goes for.


.

 

[prague7]

I see they have listed ZJP.com for sale on Bido, should be interesting to see what it goes for.

Also, looking further out, I see they have Trombonist.com on 3/12 and Harps.net on 3/13

 

[MicroGuy]

I see they have listed ZJP.com for sale on Bido, should be interesting to see what it goes for.

That would have been a great name to feature DURING the skin sponsorship.

 

[Archangel]

Looks like they have a few somewhat gems coming up. So maybe they'll get to $10k week on it. Kudos to BIDO for having a week coming up that's worth paying attention to!

 

[verbster]

I see a new NP member says he submitted dildo.com. If so, and if adult names are allowed, it should get some interest and high bids.

Pretty gutsy move for an $xxx,xxx name.

 

[Archangel]

I see a new NP member says he submitted dildo.com. If so, and if adult names are allowed, it should get some interest and high bids.

Pretty gutsy move for an $xxx,xxx name.

I honestly don't believe he submitted that domain. Dildos are one of the 2 most commonly used sex toys (#1 being vibrators) and vibrators.com sold for $1mil a month or so ago. I couldn't see the owner of a potentially $1mil domain putting it up on a $1/no reserve/1 hour auction. But if he really did, well, then BIDO has the chance to get out of the poor position it's in right now.

 

[mtford]

Also, looking further out, I see they have Trombonist.com on 3/12 and Harps.net on 3/13

Where did you find these? The list on the Bido homepage doesn't go that far ahead.

And they don't accept .nets, either...

 

[jhansen]

Where did you find these? The list on the Bido homepage doesn't go that far ahead.

And they don't accept .nets, either...

http://www.bido.com/Auctions

You may have to log in first.

-Justin

2009-03-02		     myentitlement.com
2009-03-03		     winningpick.com
2009-03-04		     mycabana.com
2009-03-05		     jurylaw.com
2009-03-06		     affordabletelescopes.com
2009-03-09		     flightdegree.com
2009-03-10		     comfortablechair.com
2009-03-11		     zjp.com
2009-03-12	     	     trombonist.com
2009-03-13	     	     harps.net

 

[Archangel]

Monday's approaching so let's take a moment to ponder how well/unwell BIDO's next set of auctions will be. Here are my guesses (taken from an earlier post plus a few new ones added):

MyEntitlement.com: mid $xx at best
WinningPick.com: early/mid $xxx at best
MyCabana.com: mid $xx at best
JuryLaw.com: early $xx at best
AffordableTelescopes.com: early $xx at best
FlightDegree.com: early/mid $xxx at best
ComfortableChair.com: early $xx at best
zjp.com: Roughly $4,500-7k
trombonist.com: early $xxx at best
harps.net: early/mid $xxx at best

What do you think we'll see?

 

[DnEbook]

i am thinking there is a .net in there but when i went to submit it said nothing other than .com ???????

this will be their downfall ... you do or you dont ????

my last suggestion is that they should auction more than just one .com each day

there are other extensions being purchased all the time , auction them as well

i was going to offer hybridnews.net ..... oh well , i'm bored with it already