The Bido Guarantee Program is now ready for your submissions (previous related blog post here). We’ve just given all existing Bido members 2 free Bido Credits that you may now use to submit your domains to the Guarantee Program. The auctions are weekly auctions, that run each week Monday through Friday. If you submit this week, your item will be in next week’s auction, starting Monday at 9AM and ending on Friday at 5PM.
Not all items will receive a guarantee, the partners are not forced to bid if they do not wish to. We ask that you keep that in mind when selecting the domains you wish to put through the program. However, with that in mind, selecting the very best of your domains to put through the program is entirely risk free because remember that after the private partner auctions end, sellers are presented with their choice of 3 options to decide within 72 hours: Accept the Guarantee and make the sale, decline and walk away (knowing what the guarantee was for, similar to an appraisal), or use 75% of the Guarantee as a starting bid in a public auction. All members of Bido may participate in the public auction and so you have a chance to sell the domain for more than what the Guarantee was for. Partners should remember that if they are outbid in the public auction, they become a partner in the auction proceeds 50%. Some partners will purchase domains, some will earn money for participating, and some will do both.
Partners of the Bido Guarantee Program have a Partner Ticker in the special area where the guarantee auctions occur. Its similar to the familiar ticker on Bido, however this ticker is in the Partner area and relays information only about the Guarantee Program auctions to the Partners. You may view the current list of partners here, and if you would like to apply to become a Partner, discuss some of the benefits, etc., please email Jarred Cohen, Bido COO, at jarred@bido.com.
In other news here at Bido, one of the other changes we released, to further strengthen the balance of the auctions on Bido is something we call “per day acceleration limits”. This means that the amount of accelerated auctions is now directly related to the amount of auctions from voting. We feel that this will create a better balance moving forward.
Please get started and submit your domains to the Bido Guarantee Program at this time.
Congrats on the launch! I have already submitted one domain to the program - here is to hoping it gets some bids!
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Good luck. In the near future (probably after the TRAFFIC LV show) we will run interviews with many of the partners so those who wish to submit understand better what these partners are looking for.
Best,
Sahar