Bido: Selling Is Easier With Vested Partners On Your Side at Conceptualist.com, By Sahar Sarid

Bido: Selling Is Easier With Vested Partners On Your Side

Published by Sahar Sarid on February 22, 2010 in Bido and Domain Names.

Let’s face it; Selling is not an easy job. To sell, you not only have to have what someone wants, you also have to price it right. You sometimes have to beat the alternatives, and surely you need an audience to sell to. Who would object to having some help with marketing their domains that are for sale? Now that we understand (and possibly agree) that selling isn’t an easy job, our job here at Bido is to try and make it easier, and we think we may be onto something. With Bido, before an item goes to auction, it goes through our our unique Vote For Profits program. That process calls on community participants to indicate which items are priced to sell, and which are not. Not only does the community vote, the community actually invests in those items they vote on. What do I mean by that? Let’s explore an example of a recent sale on Bido, the case of domain name Pepe.com.

Here’s what happened:

1. The seller listed the domain Pepe.com for sale on Bido with a 35K BidoPrice.

2. The domain was listed in our vote/pre-bid/buy tab and quickly got the ten necessary votes in order to go to auction. The voters cast between 1 to 3 votes, based on how strongly they felt that the domain was likely to sell.

3. The domain was listed for sale in Bido’s live auctions tab.

4. The first voter who voted on pepe.com cast 3 votes and grabbed the 3 best slots (the first to vote earns the most). This voter went on Twitter and tweeted the following message:

5. A potential buyer who was reading Twitter streams accidentally stumbled upon this message ended up placing a bid (and buying the domain) for 15K.

6. Since the seller’s BidoPrice of 35K was not met, but there was a high bid, the seller chose to accept high bid in lieu of the domain’s BidoPrice. Sellers have 24 hours to log in and click to accept the high bid that did not meet the BidoPrice.

In short, what happened is the the domain had more vested parties than just the seller himself. There were those who voted for it who had financial incentives to get the word out, and in this case, one has done so, and was able to turn his modest investment into an amazing ROI:

When you list on Bido and get the necessary votes, you gain more than just access to live auctions, you gain vested partners. If you would like to learn more about voting on Bido, view the payout table, and try the earning calculator, please visit our page: Vote For Profits.

Have a great day,

Sahar

2 Responses to “Bido: Selling Is Easier With Vested Partners On Your Side”

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1 Shane
Feb 22nd, 2010 at 2:04 pm

Sahar,

First of all. you’re doing a good job. You are working as hard as anyone can at this. But you can’t keep going back to Pepe. It was a great sale and it IS how you’d like it work but it has been one of a kind. I’ve posted it here 10 to 20 times. It’s the quality of the names that are important not the buyers. The buyers will find the quality name. They hunt them, they want them. And please don’t take this wrong, I want you to succeed. You are good for the industry

—-answer—-

Shane,

We had a higher sale just few days ago, for 16.5K (UDRP.COM via BGP). Right, it isn’t enough, we know, we need more of them, and I’m sure we will see many more in coming months.

It’s the quality of the names that are important not the buyers.

You may have noticed inventory and quality starts to improve. If you go through the upcoming auctions you will see Cheese.US, Wine.US, Mules.com, and other good domains listed. It’s just a start of our new initiative driving quality inventory to Bido. We believe there’s a time and place for everything. In our earlier days our focus was mainly to build the technologies and concepts of the Bido platform. Without it, there would be nothing special to what we do, and just being another place to list inventory that doesn’t move, well, we had no interest in that. We believe we’ve done most of what was needed so far, and now are focusing on better inventory, more inventory, distributions, and partners. We’re just hired another professional today to help further with this job, and later next month I’m moving to San Fran. area to further our effort finding talent, partners. Consider the fact that we’ve only been out with “multiple auctions per day format” for approx. six months, this job called “inventory” was never overlooked, just not something we could have done or seriously focused on before.

Thanks Shane for all your support!

Sahar
2 dcmike77
Feb 22nd, 2010 at 2:56 pm

No one is going to pay those reserves. And if they had the $$, they’d go buy a solid .com