2010-5-5 Update: Bido ran out of runway and put itself on the auction block today (details here).
Since discovering and testing Bido over the past few months, I’ve decided that it’s the best way to quickly and easily trim down my domain name portfolio, especially sub-$500 domain names (that’s because Bido has no minimum commission, whereas Sedo has a $50 minimum).
While Bido is still young, with it’s share of little bugs, it’s developers are rapidly iterating and improving the site, which is one reason why it’s growing so fast, taking market share from the larger players, such as Sedo. They’re also friendly and helpful and will respond rapidly and personally should you have any questions, comments, etc.
How Bido works
- Sellers submit domain names for consideration by the community.
- The community votes to send names to auction.
- Bido runs the auctions and provides the escrow service for the Buyers and Sellers.
That’s basically it (there are more advanced features to explore later). To reward the community for participating in the selection process, Bido has created an innovative system that works like this: Every time an item you voted for sells, you get a percentage of the sale price. The earliest voters earn the most, and you can earn up to 0.77% of the sale price.