On Bido, how do I know what to ask for my domains?

[Clint1]

I see every thread here is started by "MediaHound" so I don't if this is "his forum" or what. ;) And I'm not sure where to ask this, so I'll ask here. On Bido, how do I know what to ask for my domain names? I have a few I want to sell.

I'm unclear on the fee structure. I saw a "$8.88", a "$29.95" and I think an "8%" somewhere. What's the bottom line? What I do I owe if my domains don't sell? And if one does sell, what do I owe in total exactly for that?

Thanks.

[flhu]

I was just looking at that.

The listing fee of $30 or 3% (whichever is greater) is only applicable to domains that you set a minimum bid on (aka reserve). If you don't set a minimum, you don't have to pay the fee.

8% commission is paid to Bido on all successful auctions, but your listing fee is returned. If the auction is unsuccessful ( no buyers ) you forfeit the listing fee.

[Clint1]

Thanks for replying. I'm a bit confused on that.....you say "If you don't set a minimum, you don't have to pay the fee", but you do have to pay the fee if the domain doesn't sell, correct? If so, that means if I try and sell a $10,000 asked-for domain and it doesn't sell, I'm out of $300?

[Clint1]

I forgot, what about how do I know what to ask for my domain names, is this accurate? https://www.certifiedofferservice.com/CertifiedOffer/offer/makeoffer.do?dom=YourDOMAINHERE.com

[flhu]

Well, if you set a minimum, and it doesn't sell you pay the fee.

If you don't set a minimum, and it doesn't sell, there is no fee to pay.

If you set a minimum, and the domain sells, you get the fee back, but pay 8% of the final bid.

If you don't set a minimum, and the domain sells, you don't pay a fee, but you pay 8% of the final bid.


I image this is to avoid, or at least cut down, on people setting unreasonable reserves just to get a free estimate of how much the domain is worth on the open market.
Like I said, I was just looking into this myself, so I'm not an expert.

[mediahound]

Hi Clint1, thanks for the thread, always happy to discuss and explain how Bido works.
flhu pretty much covered the bases here before I got to the thread but overall he is correct in his breakdown of the format.

Listing fees only apply to Reserve priced domains. The fee is returned if the domain sells.
No Reserve domains are free to list, and are voted on by the community to go to auction. Those with the most votes go to auction, those with the least (within 30 days of voting) will not. This ensures the quality of what is auctioned remains high.
Sellers have the option if they don't want to wait for votes to do something called an Auction Acceleration. More info about it is here: Bido.com - Social Auction Platform (http://www.bido.com/AuctionAcceleration)
It allows sellers to pay a small fee to list the domain right away and skip the voting process.

These formats are all designed to ensures quality names will be listed as sellers are held accountable to list quality names that will sell. At this time, starting bids on Bido are $28 for every auction.
Listing fees (on some sales) and the 8% commission (on all sales) are two different things, so if you keep that in mind it should become clearer.

To really take a spin on all the above, we also just released a sneak preview of our Bido Guarantee program. More info is here: Bido.com - Social Auction Platform (http://www.bido.com/BidoGuarantee)
It allows you, as the seller, three options when auctioning your domain.

Submit your domains to the Bido Guarantee Program and either make a sale or get a Bido Guarantee - with no obligation. If the Bido Guarantee is not acceptable to you, you can simply walk away.

Bido has assembled the top buyers in the domain industry, our Guarantee Partners, who submit their offers for domain names that they are willing to buy in a private auction not open to the public.

After the private auction takes place, you have three choices:
1. Accept the Guarantee Offer as a sale
2. Send the domain to No Reserve auction using the Guarantee as a starting bid
3. Pass on the Guarantee and walk away


So we have the regular Reserve/No Reserve auctions (with the basic fee structures outlined above), and the new Bido Guarantee program.
Hope the info helps, happy to discuss more if you would like.
Regards,
Jarred

[Clint1]

Well, if you set a minimum, and it doesn't sell you pay the fee.

If you don't set a minimum, and it doesn't sell, there is no fee to pay.

If you set a minimum, and the domain sells, you get the fee back, but pay 8% of the final bid.

If you don't set a minimum, and the domain sells, you don't pay a fee, but you pay 8% of the final bid.


I image this is to avoid, or at least cut down, on people setting unreasonable reserves just to get a free estimate of how much the domain is worth on the open market.
Like I said, I was just looking into this myself, so I'm not an expert.
Thanks, I gotcha. ;)

[Clint1]

Jared, thanks for the info. You had me a bit concerned with that bit about having to have enough votes to post, but that Auction Acceleration is interesting. I assume the fee is not returned for that if it doesn't sell? The Guarantee program also looks interesting, I'll read about that.

I can understand about the voting process and crappy domain names. We all see those all the time with those criminal ph-arm-ace-utical terrorism websites. Meds10.com, Meds11.com, Meds12.com, etc., etc., because Meds.com through Meds9.com were all terminated due to harassment! (Yeah I just got another one in my email :mad:). Also crap like erfse.com, eoip.com, yebssdc.com, and other made up characters. Totally useless domains created for the sole purpose of harassing people and selling off paint chips and chalk from china formed to look like a pill.
Thanks.

[mediahound]

Correct, Acceleration fees are not reusable/refundable regardless if the name sells or not.

[Clint1]

Can anyone answer this please?

What about how do I know what to ask for my domain names, is this accurate? https://www.certifiedofferservice.com/CertifiedOffer/offer/makeoffer.do?dom=YourDOMAINHERE.com

[mediahound]

The website you link to is just a way to make an offer on someone else's domain, it is not a way to determine the value (unless of course they accept your offer, but certainly that's not what you ask about).
This is a very important topic however and Bido is committed to educating sellers about the importance of accurate pricing. We created a series of articles about the importance of accurate pricing, please take the time to read them and you will be very much more educated about determining where to price your domains (if you do not wish to run a No Reserve auction, of course). accurate-pricing archive at Conceptualist.com, By Sahar Sarid (http://www.conceptualist.com/category/accurate-pricing/)

[Clint1]

Ok thanks Jarred.

[Chief Ken]

I have a few domains I may be interested in moving.

[mediahound]

Sure thing Ken, we hope you'll consider Bido.
More information is here in our FAQ:
Bido.com - Social Auction Platform (http://www.bido.com/Info/FAQ)