Bido Updates Today: Introducing Lower Fee Structure (Reserve Auctions), An Autolist Feature, And More

Reserve pricing Format Change, listing fees now cost credits

Reserve auctions on Bido previously cost a minimum of $29.99 upfront (3% of the reserve requirement or $29.99, whichever was greater). From today forward, however, the reserve pricing schedule is 1 credit per $1,000 of the reserve (capped at 10 credits maximum). Credits are available for $8.88 per single credit, and Bido offers discounts for bulk packages. Previously, the listing fee was returned if the auction completed with a winner - as well as in the case of “reserve not met”, if the seller selected the high bid within 24 hours. The reasoning is to hold sellers accountable for quality listings with realistic reserves and accurate pricing. Now, with our new format using the tiered credit structure, presents a world of savings to sellers looking to list reserve auctions. A reserve auction of $900 would previously cost $29.99, however now it only costs 1 credit ($8.88), a savings of $21.11. The credits are returned in the same fashion if the auction completes with a winner. If the auction sells, you can reuse the credit(s). We feel that this change will allow Bido to truly be there for you when you need to liquidate your domain names. Bido Credits are available at this link. As an extra bonus for sellers, we now cap the maximum of credits ever needed to list a reserve auction at 10. So submissions with a $50,000 reserve will only cost 10 credits (as opposed to 50). Previously, there was no cap on listing fees, making it astronomical to list well priced high quality domains. With this change to credits, we also introduce this 10 credit cap. 10 packs of credits cost $79.99 - so in the above 50K reserve example, this presents an upfront savings of $1,420.01 passed to the seller.

Autolist & Preferred Preview Window setting

This new feature of Bido is something we’re really excited to announce. It’s a setting for sellers to enable that allows the Bido system to automatically list the auction in the next available timeslot (all auctions on Bido are currently staggered apart by 1 minute). Sellers may now pick their preferred amount of days for the preview window (default is 5 days away, but sellers may select anywhere from 1 day up to the maximum of 20 days of preview). Once the setting is enabled, based on the amount of days the seller selected, the auction will be automatically listed with no intervention by the seller. Sellers may then write their auction’s description as normal any time up until the auction starts. One of the other highlights of this new setting is the ability to have listings setup for auction only 1 day away. Previously, Bido mandated a 1 week minimum preview window, this change allows Sellers more control over this amount. We feel this feature also allows Bido to truly be there for you when you need to sell sooner rather than later. Once you enable the setting, as soon as your submissions get enough votes (or if you accelerate and skip voting), they’ll automatically be setup for auction. Reserve auctions are treated in a similar fashion, once you assign the credit to the submission, it’ll automatically be setup. The feature is a great time saver and reduces fatigue on sellers. Simply enable the setting, submit your domains, kick back and watch your auctions roll.

Many other minor changes, security enhancements, ease of flow, and others have been included as part of the release. As usual, we welcome your comments, feedback, and all other motions in our direction.

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all on Bido today.

To view and bid on any of these auctions, visit http://www.bido.com

These are all NO RESERVE auctions, bidding starts at $28, so join in right now. Auctions run for ~1 hour (barring extensions).

Hope to see you at the auctions.

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Bido.com