Bido Reviewed

June 30, 2008 · Print This Article

I recently wrote a review of all the domain auctions. Since that review, there have been two new players who entered this lucrative market. The first is MyID, which is now running a series of Canadian domain auctions. I’ve discussed their auctions many times on my blog already. The second is Bido, run by a number of prominent domainers, such as Sahar, which had been announced at the time of my review, but has just gone live less than two weeks ago.

The main innovation of Bido is what they call “the power of one.” There is one auction per day for one domain name, at one o’clock (EST), and the bidding starts at one dollar (no reserve). The one hour auction works well for me, as the reality is that in most domain auctions, the real action takes place in the last hour. In most auctions I have been in, I don’t place a bid until the last hour anyhow, nor do most domainers, so Bido seems to be effectively paring things down to the essentials.

The 1:00 EST is a really good time to hold the auction. That’s 10:00 a.m. on the west coast, so the auction is not being held too early anywhere in the Americas. That’s 6:00 p.m. in the UK and 7:00 p.m. in most of Europe, which is not too late. It’s always hard to schedule an auction that’s at a good time in Australia and New Zealand, and this auction is pretty late for them. But most domainers are night owls from what I’ve seen, so many of our friends from down under may well still be awake when the Bido auction runs.

The one domain per day works well. I can actually remember over half of the domains auctioned since Bido started, which is pretty amazing considering how many domain names I look at each day.

The one dollar opening bid with no reserve works well. You know that if you have the highest bid, you’ll win. I’m sure lots of domainers are tired of going to all the trouble of researching a domain, winning the auction, then not getting the name.

Service from Bido is excellent. Twice I’ve had to contact Bido about something, and both times I received a prompt, friendly and helpful response. Quite a pleasant contrast from some of the more established auction venues.

I think the design of the website is very sleek and impressive, with lots of gadgets. I really like that. The design is very modern and forward looking, like you have to be if you’re a domainer.

One thing Bido might want to consider improving is the navigation. It is less than intuitive to me. In fact, the two times I wrote for support were because I could not find what I was looking for on their website.

The results of the auctions held at Bido so far are:

DiscountImages.com – $911
GolfIowa.com – $460
RYY.com – $7,124
GoldAuction.com – $1,284
SpywareHelp.com – $1,564
DomainTalk.com – $2,415
VacantRoom.com – $179
CerealBox.com – $2,695
Panelist.com – $1,866
HouseTips.com – $432
MarriageRights.com – $540
CanadianCoins.com – $1,167

There has been some discussion in the forums about the quality of the names auctioned. Certainly, these aren’t the same caliber of domains that are auctioned at a live auction at T.R.A.F.F.I.C. However, in my opinion, that’s not a big deal. It would be a mistake of Bido to be targetting that niche. I think that the domains offered are very good and are appropriately targetted for their auction platform. Most domainers aren’t regularly doing 6 or 7 figure deals.

Another interesting feature of Bido is that they have a panel of independent experts who give opinions on the domains being auctioned. I’m one of these experts. I can say that there is no pressure to write anything in particular about the domain, and in fact I have seen many negative reviews. I’ve written reviews so far about Panelist.com, HouseTips.com and MarriageRights.com

I’ve also participated in one of the auctions yesterday. I won the domain CanadianCoins.com, which as Richard said is a fabulous domain.

All in all, Bido is a refreshing change from the traditional domain auction houses. I think that it is carving itself out a good niche, and that it will do well in the future.

Comments

11 Responses to “Bido Reviewed”

  1. Francois on June 30th, 2008 12:05 pm

    The concept is good, the only/main problem I see are the domains that are not very appealing for domain investors (domainers).
    I hope they will start auctioning premium domains soon (before the system be associated with low value names).

  2. namer on July 1st, 2008 4:36 am

    congratulations on winning CanadianCoins.com
    i would be interested in your opinion\appraisal between these 3 domains

    CanadainCoins.com
    CanadianCoins.ca
    Coins.ca

  3. Coming Soon: Bido Sales History and Site Reviews at Conceptualist.com, By Sahar Sarid on July 1st, 2008 6:38 am

    […] Domain Bits: Bido Reviewed […]

  4. admin on July 1st, 2008 9:16 am

    @namer – You’ve got a nice website – good to see more Canadian oriented domain sites. I went to U.Waterloo too!
    I don’t really like CanadianCoins.ca. While it’s usable, having both “Canadian” and “.ca” seems redundant.
    Coins.ca is a spectacular name that I think is worth high 4 figures and possibly even low 5 figures.

  5. namer on July 1st, 2008 8:13 pm

    Jeff, thanks for your comments, and compliment. The site is a slow work in progress. What a small country we live in, go warriors:)

  6. Damir on July 4th, 2008 4:12 pm

    VacantRoom.com – $179 – sold for a bargain.

    Great POST

  7. jp on August 4th, 2008 12:02 pm

    They seem to have a very high proportion of house listings, like they’re just liquidating they’re own names. Granted it’s their business and can do what they like, but it looks like a slow way to sell off a portfolio. And not a lot of transparency in the process of selecting domains to be auctioned, probably whatever they think will get them the highest commission… the layout is very nice, and once familiarized with it, it’s easy to use, but it doesn’t mask these other problems

  8. admin on August 4th, 2008 4:17 pm

    @jp – I mostly agree with you. I think that the strategy is that they want to prove the value of the auction using their own domains as guinea pigs. Then, once they’ve done that, people will submit better names to be auctioned. However, I’m sure they own better names that could be auctioned and I also know several people who have submitted better names that have not been accepted. It will be interesting to see how Bido deals with this. I can tell that it’s not an easy situation to be in, but I think that they have the smarts and the persistence to succeed with it.

  9. Ian on October 27th, 2008 10:14 pm

    Hey man, nothing wrong with canadiancoins.ca. I think it will be a great website once i finish đŸ˜‰

  10. admin on October 27th, 2008 10:30 pm

    Too funny! Good luck with the site!

  11. Mike on June 22nd, 2009 5:25 pm

    After reading everything, Bido seems to be junk.

    A) you have to go through the hassle of transferring all your domains to the registrar of THEIR choosing before you can post it for sale

    B) their commission rate is ungodly for anybody with a valuable domain name (ie: $1200 commission on a $10,000 domain)

    C) i couldn’t find an answer to this one, and at the risk of sounding ignorant, it appears as though if you post a domain for sale with a reserve price, and the reserve is not met – they classify it as an “unrealistic” reserve and there’s a penalty involved.

    Penalty info is right there on their homepage. So if I have a domain that could be quite valuable to many people, Bido gives my domain 1 hour in the spotlight on their website. My site is expected to receive mad bids in succession, one after another after another, before a reasonable offer floats along? (People are going to lowball a no-reserve auction if they think they can. Who is going to bid on a site and say “this is honestly worth $XXXX so I’ll start at $2000”?