Recall Media’s one-name-per-day auction site, Bido.com bowed today with the inaugural auction of DiscountImages.com. Was is a success? Only the team over at Bido.com can say for sure. There were four bidders with a total of 20 bids on the name. That’s better than almost all of the low reserve/no reserve names at the last TRAFFIC auction in Orlando. The end result was a winning bid of $911US.
The appraisals for DiscountImages.com varied from lows of $500 to highs of $15k targeted at end-users. My own appraisal of $750-1500 was based on a variety of factors including past sales, recent offers on my own domains, industry trends and end-usage. I might have a couple of factors I’ll keep under my hat, but overall this isn’t rocket science. End-users are not the target for Bido.com and value expectations that take the end-user into account aren’t going to hit the mark here.
Does having industry expert appraisers weigh in on a name help or hinder the auction process? It might mean that some names get less, but I think it’s best for the industry as a whole. Overpaying for names means the industry is in a bubble (and look where that gets the real estate market). Having realistic appraisals and data on the likely end-use and/or development for a name presents us all with the opportunity to create a stable marketplace that will continue to grow over time.
Would I use Bido to move some of my names? You bet. There are many names in my portfolio that I either hand-regged or picked up in a drop or otherwise paid very little for. Why would I *not* take a few hundred to a couple thousand dollars for them? Are there names in this group that I’m not willing to trust the model to? Of course. But the crown jewels are few and far between. Domain investors who can be honest with themselves over their portfolio and the likelihood of a big payday for those mid-tier domains might find great success at Bido.com.
Cheers to the Bido.com/DNZoom team.