Bido is Closing

14 years ago

Originally Posted by gcintermed

Just got the word that Bido is shutting down as of May 5th.
Too bad, I was just starting to have fun with it.
They claim they will pay out what they owe. But if you have a credit in your account, I would ask for the payout. I just did, and got paid.

-Gene

Sorry to hear when any sincere business owner goes out but it doesn't surprise me. It was fun when it was just one domain per day, then built up to more, but it got to be like DELIVERANCE. It was just prospectors buying from prospectors and a lot of the domains were pretty horrible, actually.

Then I look the other day and I see there's auctions going off every minute? And so many of them never even got a bid. What do you think he could have done differently that would have helped it survive?

I used to listen to the domaining "experts" going on with their opinions as to why a domain was, or wasn't, valuable. Meanwhile, I'd have an obscure domain sale for $150 just because it was some kid's name. And Gene Pimental, who teaches domain flipping, demonstrates that you can get a domain for $10 and sell it for $250 within a very short period of time if you understand how to create "perceived" value in your prospect's mind.

So, it just doesn't surprise me that bido.com is going under with all the inbreeding that was going on over there.

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Gene Pimentel

14 years ago

Originally Posted by BizBoost

And Gene Pimental, who teaches domain flipping, demonstrates that you can get a domain for $10 and sell it for $250 within a very short period of time if you understand how to create "perceived" value in your prospect's mind.

Hey, at least get my name right (jk!)

Originally Posted by mariahm

Does anyone have a suggestion as to a good site to sell domains on now that does not include ebay?

Two of the most popular places are Sedo.com and Afternic.com.

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BizBoost 14 years ago

Originally Posted by Gene Pimentel

Hey, at least get my name right (jk!)

lol, I realized, later on, that I made that mistake, and I was wondering if you were going to say anything about that. Sorry, JEAN.
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gcintermed

14 years ago

I agree, he didn't get enough real buyers. I knew there was a problem when they told me I needed to market my own domains up for auction. What was I paying them 10% for? I think they were hoping that the voting system would produce higher quality names. But it's still going to be a marketplace of speculators unless you do something to market the names to those for whom it would have real value.

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Margaret Arumugam 14 years ago

I hope this has nothing to do with some ill-fated trend in the domains industry as I'm seriously thinking of adding domain flipping to my sources of income.

I trust Bido's closure is a one-off thing in an otherwise interesting industry.
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MediaHound

14 years ago

Thanks all. If any warrior is interested in acquiring the Bido.com, brand, site, technology, and list, do be in touch with me promptly.

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Mega B

14 years ago

Was it due to the economic climate that the site has decided to close ??? it does look to have great potential.

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BizBoost 14 years ago

Originally Posted by Mega B

Was it due to the economic climate that the site has decided to close ??? it does look to have great potential.

I need to ask you, in all sincerity, what makes it look like it has great potential? No insult to media hound because, simply, not everyone is going to see another's "golden child" as they do, and I looked at Bido as a scene out of DELIVERANCE. It was pure inbreeding - speculators buying from speculators. That's one of the huge problems with "insiders" creating venues for other insiders... unless you connect them back out to the larger world, you constantly have to bring in new blood and from a very limited, and dwindling, pool of interested parties.

Imagine putting all that time and energy into something that was destined to smash its head into a very low ceiling of growth potential? Modern domain prospectors, like "elite" college English professors, think they know what they're talking about when they wax on about domain potentials but we, as in this forum, are MARKETERS... our job is to SELL stuff, not to get caught up in things like domaining.

As I said, earlier, when Gene shows a method whereby a person can buy a domain for $10, make it rank for a keyword that a local/regional business is paying for, and then sell it to them for $100-$500, who wants to hang in a domain forum listening to people tell you why "roosterlegsores.com" is, or isn't, "viable"?

It was doomed from the start.
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