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The Bido.com Social Auction Platform Is Now Running Domain Name Auctions

Posted on: Thursday, 19 February 2009, 11:57 CST

BOYNTON BEACH, Fla., Feb. 19 /PRNewswire/ -- Bido is Back! Bido.com, the Social Auction Platform, announces that their premium one domain name per day auctioning has returned. The one-domain-a-day auction puts the focus on the value of one domain instead of requiring buyers to search through thousands of domain listings to find a domain of interest. Bido markets the domains in each daily auction to their contacts, domain name industry partners, and end-users identified as possessing a potential interest in the domain name at hand. The auction lasts one hour (bids in the last few minutes extend the auction) and starts at 1:00PM EST, every day between Monday and Friday. The starting price is always $1.00, which allows the market to determine the final selling price. In business, nothing happens till a sale is made. Therefore, all Bido auctions are no reserve auctions, unlike other auction venues such as eBay where unless the reserve is met, there's no sale.

Bido.com focuses on one premium domain name each day. People both within the domain name industry and outside the domain name industry have a chance to acquire great domains at fair market value via our auction.

Jarred Cohen of Bido commented, "We're ecstatic about bringing auctions back to the domain community. There's been many months of blood, sweat, and tears that has gone into building the architecture of our social auction platform. This social auction platform has revolutionized the online auction concept. By having a network of Expert Members, and one domain auction per day, Bido puts a major focus on the auction block and everyone benefits. Expert Members build their brand by participating in the discussions."

Bido was founded on the principal that the domain name industry needs change. Bido has contributed to this change by building a platform to conduct auctions online, but with a social networking twist to them. Bido is currently focused on auctions in the domain name industry, but the platform is versatile to be used for many different industries, such as classic cars, for example. Domain names are equivalent to online real estate, and getting a good name these days is hard. A number of companies have sprung up with made-up names or unique names that leave out vowels, such as flickr.com. This is because they cannot register regular domains as they have all been gobbled up long ago. Bido.com focuses on one good domain name a day, so people both within the domain name industry and outside the domain name industry have a chance to acquire great domains at fair market value via the auctions. The one domain a day auction allows the mass of people that visit the site to focus on the value of one domain, instead of having to search through thousands of domain listings to find a domain they may or may not want.

Bido picks one domain from thousands of submissions they receive on a weekly basis. Jarred commented, "We write a description about the domain's potential uses, find videos that correspond with that domain to try to visualize our description, and then we market the domain to our contacts, partners, and end-users identified as possessing an interest in the domain at hand. The auction lasts one hour and starts at 1:00PM EST. The starting price is always $1.00."

Members submit domains with no reserve and let the market determine the final selling price, while the Bido team ensures the technology and brand are there to ensure the maximum sale price that the market will bear.

Jarred continued, "The type of format we use for auctions is unique, as is the platform and technology we use to push the domain names up for auction." Bido has built their own proprietary "push technology" for the online bidding platform. The technology allows the website to push all of the bidding prices, the bidding history, high bidder status, and other information directly to the user -- without requiring the user to refresh his web page in the browser. All information is updated in real time and no action is needed from the user -- as far as domain auctions go, this is completely unique. Jarred added, "We're not trying to be the next Google or Yahoo, but we've produced a revolutionary platform to conduct auctions online."

For more information about Bido, please call 1-800-611-Bido or visit the http://www.Bido.com website.

SOURCE Bido.com

Source: PR Newswire

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