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I wrote yesterday about a new bido program that reward early bids with 2% cashback offering. Not long after posted, Jeff Hawkins replied:
I’m kinda curious about how that will work out. It’s seems a good idea. I see pre-bidders figuring that two percent into their estimate then bidding a few percentage points higher figuring if they win - they get 2% back. If someone else beats them - they atleast pushed the competition higher than they themselves valued the domain at.
Probably a good idea.
So let’s run some numbers here. If you are willing to pay 10K for a domain on Bido you can overbid with confidence 10,204.8 (as long as bid is in before auction start), knowing well if you win you get 2% (or $204.8) cashback. To those who missed math class that day, the formula for you here is: X/.98=Y
X: Desired bid (in the case above, 10K)
Y: Adjusted bid that if 2% is deducted, equals your desired bid.
On another note, today’s guest in the Bido chatroom during auction is Gary Taylor of 3ac.co.uk
Gary started domaining in 2002, has about 400 domains, and an allegiances with the .co.uk extension. Gary is strongly into developing domains and using different online marketing techniques including viral games, affiliate programs, social networking and SEO. Gary is currently working on a mobile SEO platform in partnership with oneresult.co.uk and scorchsystems.com. Gary’s own personal experiences include winning the Young Entrepreneur of the Year 2008 at the UK’s Midlands Business Awards for his efforts in promoting financial services online. Gary has been featured in several financial services publications, one notably was Mortgage Strategy magazine.
Over the last few years, Gary has mainly bought domains, and owns a bizarre collection ranging from financial , gaming and adult including a cool selection of seo and online reputation management domains.
Have a great day!
Sahar
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