Last week, it was the first time that I submitted domains to Bido. I can say that the submission process went very smoothly. I think Bido’s auction platform is one of the best I’ve used so far. Not only does the design look nice, but it also follows function.
It was very easy to submit domains for consideration via Bido’s online form. Once the domains were submitted and listed in my account, I still had to verify that I was the owner of the domains. To do this, Bido asks you to add a short code into the domains’ whois info, which is pretty easy to do and quickly done. After I had placed the required codes in the whois, I clicked on the verify link within my Bido account and Bido instantly verified ownership. This all happened within minutes after I had submitted the domain names. If you compare this to other auction sites such as Sedo, where they manually check ownership of domains, and which sometimes takes more than one business day to be completed, the submission and verification process was very fast.
There is something negative about selling domains on Bido, however. They require you to agree to a strict exclusivity agreement with a rather long exclusivity period. I won’t discuss details of the contract, but I just would like to say that I think it is too strict for an online auction site. Especially given the fact that Bido asks you to do most of the marketing for your auctions. On the other hand, Bido only charges a fair 8% commission on domain sales and the signing of the contract can easily be done from within your account. But I still think Bido should relax the exclusivity contract a bit. I mean, I even got a more seller-friendly contract when selling domains on behalf of clients in Moniker’s live domain auctions not too long ago. Most domains that go on auction on Bido do sell, so the exclusivity agreement won’t be an issue in most cases, but I’m the kind of person who prefers peace of mind throughout the entire process. Now back to the actual buying and selling of domains on Bido.com.
It’s no secret that I like Bido’s innovative approach to auctioning off domain names. Bido has been one of the most innovative companies in this industry, in my opinion. The team around Sahar Sarid, Darren Cleveland, Jeff Bhavnanie and Jarred Cohen has done a great job implementing the many ideas of the Bido founders and domainers who let them know what they wanted online domain auctions to be like.
As a buyer of domains, you will also like Bido. I don’t want to talk about its general concept of selling domains, which is to only sell a very limited number of domains in auctions running no longer than one hour, because a lot has been written about this already, but just look at the bidding interface and the Bido home page: The site updates all bids and auction running times in real time without you having to reload the page. It’s even possible to chat with other domainers while watching an auction or placing bids. This makes trading domains more fun and, yes, more social.
As this is the first time that I’ve submitted domains to Bido, I don’t have any results, yet. So I can’t tell you how the transactions are done once a domain has sold. But I’ve only heard good things, and my personal experience so far has been very good. I’m sure I won’t be disappointed when the auctions finally go live next week.
Oh yes, I guess I should do a little promotion and mention the domain auctions here:
WarCrime.info – Monday, August 03, 13:01 pm EDT
EastTexas.us – Tuesday, August 04, 13:01 pm EDT
DegreeCourses.us – Wednesday, August 05, 13:01 pm EDT
SecondLienLoan.com – Thursday, August 06, 13:01 pm EDT
I believe in letting buyers decide on the prices in auctions, so all of these are no-reserve auctions starting at $1. It is possible to place pre-bids before the auctions actually start. Please do place your bids if you’re interested in any of these generic domain names.
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