So Bido.com launched yesterday and I scored the first domain ever. Yes, I am making history. Anyway, some of you loyal readers might be unaware since this is primarily an SEO blog (or rather a rant filled time wasting blog) so I’ll fill you in.
Bido does live domain auctions that are unlike any other I’ve seen. They only do one domain per day with a one hour auction. This is good for me because I can’t pay attention to the other forty million auctions going on. It likely will create a higher demand for each auction considering there will be more attention on it so that’s a good play by them.
The second unique thing is their seller guarantee. There is no reserve on all their auctions and when you place your domain for sale you list a “reasonable” price expectation. If they don’t sell it for that, then they pay you your expected price anyway. This seems risky on their part and good for us, but I don’t know how they determine what a reasonable price expectation is yet so we’ll see.
Finally, another unique point is the social aspect of the whole thing. They have experts that evaluate the value for each domain that’s up for auction. This is a little weird because everyone values things differently, and it’s hard to get a handle on it. Essentially it’s worth what you are willing to pay for it. There will always be inherent risk involved in domain speculation.
Let’s take yesterday’s auction as an example. The domain was discountimages.com. How good is this domain? Well, the “experts” all had values listed well above what I paid for it. The highest on a resale basis was $5000 and something like $20,000 for and end user. The lowest was Todd Malicoat who didn’t like the domain much and had it at something like $1000 max. Based on what everyone says, I got a bargain at $911.00 but it’s all in the eyes of the beholder right? The maximum I was willing to pay was $1200. When I bought it I just planned to sit on it for a while and flip it when the time is right but now I think I might develop it. I need to do quite a bit of research in the stock image world first, but I think it might be worth the time to develop.
didn’t have an automatic time extension (correction: they did have an extension) for bids below five minutes, which was good for me because I creeped in at 2 minutes and snagged it from “Horney”. Sorry about that Horney…I’d give you a link but I don’t know who you are. Today GolfIowa.com was up and with 5 minutes left the highest bid was $61.00. After a flurry of activity the final price was $460.00 so you can see the obvious benefit. I also got a lot of PR in the process so a big thanks to the nice folks at Bido for contacting me.
Congratulations on a successful launch and I’ll certainly be back. You’ve earned the Official Seal of Awesomeness. And congratulations to me for being more awesome than you.