It’s been about 4 months since Bido.com relaunched and I thought it was time to catch you up with the results.
Bido.com, since its inception has had 139 domains sales, on its one domain per day auction format.
Total sales for the 139 days, is $170K or about $1,215 per sale, pretty impressive, when you consider that almost all domains are sold with no reserve and start at $1. (this includes the first couple of weeks of Bido.com before the relaunch).
I have bought and sold domains using the platform and think that it brings value to sellers and buyers.
I also spent an afternoon in the chat room and really enjoyed the experience.
All and all its hard to call Bido.com anything but a success and I’m told that big news is coming in the next few weeks.
Bido.com is always looking for good domains to auction so if you have some domains to sell you should consider Bido.com, as a strong option.
I’ve never been able to get an yes/no answer on domains submitted to them and they also did not answer my emails.
I’m not sure how you are even able to do business with them, unless you have inside contacts.
It seems more like an insider club to me since they don’t communicate.
Mike does have inside contacts. Mike lives near there when he is in town. And, he is good friends with the owners and administrator.
🙂
I have not tried to submit a domain because I figure it is a waste of time. They must have 10,000 domains on the “maybe” list. And, they are only auctioning off 1 a day.
They do a nice job of keeping Bido in front of bidders.
Thanks for the coverage Mike. Johnny, not sure how you supposedly fell through the cracks but you may email me at jarred@bido.com and I will investigate what happened and discuss your portfolio with you. Alienating our clients is far from what our mission is.
Thanks all for your support and please stay tuned to us for some exciting things in the near future. Please join as a member if you have yet to join so we can stay in touch.
Guys
Regarding submitting domains to auctions here is what I hear from the auction houses, people generally submit a ton of names. For a TRAFFIC show its not unusual for people to submit hundreds, some times thousands of domains.
I have no idea of what you guys do, but you know how many domains I submitted to Bido.com
1
and it sold for over $3K, or 2 1/2x their average.
So here is the lesson, submit one good name, that you truly believe will easily get bid and will easily meet the $1,200 average and send it to Jarred personally.
Mike, you made a number of good points. Monte has complained about that for years. I could never understand why anyone would dump a large list on the auction house and say “pick what you need” considering that thousands of other people did the same thing.
In all of the years I have known Jarred, I will say that Jarred is excellent in communicating and following-up. And, very vigilant about the success of Bido. The advantage of youth. ???
But, the flaw of Bido is that it is only 1 domain a day.
DI, tyvm. I’m humbled and flattered.
I’d also like to point out, in regards to your fingering this current flaw with Bido, we’ll not always be auctioning just one domain per day. We’ve built a world-class auction platform and to use it for one domain auction each day would be a large waste. We’ll reveal more of the next progression of our platform in the upcoming weeks, and it does address this core issue of one domain per day. With a nice twist, of course. It’s been the plan all along. We must crawl before we walk, and to release a platform such as we have requires many ramps and phases. Hence, just one domain per day at the moment. We’re looking forward to the big day, and we feel the entire industry will benefit from whats in store then and beyond.
Thanks for your support, feedback, criticism, and anything in between, it really does mean a lot to us.
Bido is excellent and I think Art, Jarred & Sahar have done an excellent job, Sorry if I missed anyone else!
Regards,
Rob
I think a great feature would be one domain each from a list of TLDS & CCTLDS.
When I first learned of Bido, I envisioned their daily auction being a true daily news item that could one day reach the masses. With an RSS feed that news organizations would incorporate into their homepage as in “Domain.xyz sells for $50,000 today at Bido” like a sweepstakes headline.
That would require consistently focusing on higher quality domains … one per day. Auctioning mediocre domains will not drive the interest level to draw a truly huge spotlight.
Of course, my comments here are speculation and projection. I honestly don’t know what Bido’s ultimate goal is. I’m so eager to see a truly high-quality, reputable auction company take center stage and do justice to domain investing. As Bido “ramp up”, it will be interesting to see how the brand and public familiarity grow. The slow growth model, with strategic improvements, is definitely the right way.
Auctions have lots of room to grow in terms of becoming more targeted and industry-specific. That’s the future bread and butter, i.e. having top quality domains relevant for specific industries such that the whole real estate industry, banking industry, etc. are tracking what is for sale on Bido and actually, FOR THE FIRST TIME EVER, are participating in what would be end-users bidding against one another for premium domains beneficial to their business/industry.