Bido.com no longer guarantees a sales price to sellers.
After gaining experience from a couple week’s worth of domain auctions, Bido has made a sweeping change. It will no longer “guarantee” a certain sales price to sellers.
Bido cofounder Sahar Sarid noted on his blog “Looking at domain submissions we learned that if you state that you are willing to give a guarantee if certain guidelines followed, domain owners will submit anything and everything for your consideration, mostly outside the boundaries stated.”
So all domains submitted from now on will start at $1 and truly have no reserve. I think this is a smart move to draw in more bidders, too. If I feel that I may be able to get a bargain on a domain, I’m willing to show up and participate.
Granted, the market should determine the final bidding price, but I may value the domain differently than others. I may believe true value is less than the “Guarantee” price, but greater than what other people are willing to bid.
If you list your domain, it’s essentially guaranteed to sell. Whether it’s for $1 or $10,000, at least you know it got great exposure and a fair price.
Today’s auction for Compete.net starts at $1.