$1 With No Reserve

[Raider]

When I first learned of Bido, I thought about submitting one my premium domains, but when I learned the starting bid was $1 with no reserve, that thought quickly vanished.

I think when you start the bidding this low with no reserve, it will be extremely difficult for the site to attract premium domains, this is why we see so much crap being auctioned off.

Considering how low domains are selling for at auction these days, I don't think owners holding premium domains are going to risk it, I know I wouldn't.

Where am I going wrong?

 

[Sonny Banks]

When I first learned of Bido, I thought about submitting one my premium domains, but when I learned the starting bid was $1 with no reserve, that thought quickly vanished.

I think when you start the bidding this low with no reserve, it will be extremely difficult for the site to attract premium domains, this is why we see so much crap being auctioned off.

Considering how low domains are selling for at auction these days, I don't think owners holding premium domains are going to risk it, I know I wouldn't.

Where am I going wrong?

You right.
Is a risk sell names from $1 via auctions these days.

Talkin about Bido...the problem is the quality of the domains auctioned on their platform.

 

[Raider]

Talkin about Bido...the problem is the quality of the domains auctioned on their platform.

This is the point, the low reserve is in direct relation to the low quality domains we see.

 

[Sonny Banks]

This is the point, the low reserve is in direct relation to the low quality domains we see.

I'm curious to see the LLL.com on Bido the next days...

 

[MediaHound]

The quality of domains being auctioned will improve at Bido.
The submissions need to improve first and we are introducing some changes to the site very soon to address this core issue.
We truly feel we've picked the best of whats been submitted, and since the quality of submissions was sub par we are introducing some fixes to address that. Of course we want to see the quality increase as well. The main concern of ours now is providing the platform to find this balance. We can band-aid the issue in the meantime by injecting house domains (a series of three letter .com domains will be sold one per week for the next several weeks). This will bring quality up but the long term solution is different.
We addressed the issue here in the comments on Newfound Names' blog - http://www.newfoundnames.com/domain-auctions/life-after-namejet-and-bido/

We also have a series of articles starting with this one that are well worth a read:
http://www.conceptualist.com/2009/02/23/the-importance-of-accurate-pricing/

We are listening to all the feedback, and appreciate the discussions. Thanks!

 

[Raider]

Does improving domain quality include the possibility of higher reserves or a higher starting price? The way I see it; your not going to get domain owners to submit real high quality domains unless you do one or the other.

 

[MediaHound]

Raider, while I cannot comment on the exact changes at this time, we will make an announcement soon.
If you are a registered member, you will know first as we will send the notice there to all our members.