After $2 auction, platform needs to step up quality fast or users will lose interest.
I love Bido.
There. I said it. Bido is an imaginative auction platform. It’s the first truly social domain auction platform. Stop by the site during auction hour and you can join a discussion. Prior to bidding you can read what other people have said about the domain. It’s fun and engaging.
There’s just one problem: the domains up for auction stink. And I’m not the only one who thinks so. Today’s domain, myEntitlement.com, sold for a whopping $2.
That’s no surprise, given the pre-auction expert comments:
“It is unfathomable to me why this domain was selected for auction on Bido. Not only is this domain completely worthless, it’s another black eye for an otherwise promising platform.”
“Another generic domain with little to no appeal.”
“This domain isn’t a great pick for anyone.”
“I don’t see anything redeeming about this name. Not even registration fee.”
“This is worth reg fee or less in my opinion. I do not think this domain will even get into the double digits.”
The past few days haven’t been much better. Yesterday BuyCheaply.com sold for $16.
These are domains that could eventually sell for much more to an end user, but otherwise don’t have much value. They’re like lottery tickets.
It can be fun entering a live chat when there’s a hotly contested domain auction. It’s lame when the domain isn’t even worth talking about. To make matters worse, many Bido customers have submitted domains for auction. They feel snuffed when they see a domain like this selected.
To be sure, there are some domains on the horizon that could sell for four figures. ZJP.com is coming up and should sell for $3,000-$5,000.
But a no reserve auction platform requires robust bidding activity, and trust with both buyers and sellers. If domain quality doesn’t improve then buyers won’t bother stopping by. And if buyers aren’t there, sellers won’t want to list their domains.
There, I said it. Now let’s step it up a notch guys.