The weather in Miami is perfect and the pre-bidding for SwapFest is heating up. One bidder has already submitted more than 100 pre-bids. With more than 5,000 auction lots in this SwapFest, there is something for everyone. Whether you are attending SwapFest-Miami or not, Pre-bidding for SwapFest is a good strategy. Here is why.
- Pre-bidding can be done remotely: Unlike SwapFest.com #1 which was restricted for DevCon participants only, SwapFest #2 allows for remote pre-bids. For Developers on a budget, Pre-bidding is the way to go.
- Pre-Bids get Priority over Live Bids: At each bidding cycle, the Pre-bids get processed first. For example, if the bidding is at $500 in the Dutch auction countdown, and there are multiple room bidders with bids, the pre-bids will take priority. For anyone who observed a photo-finish at SwapFest #1, it is easy to see why a Pre-Bid would be a wise strategy.
- Pre-Bids are Confidential: The risk with pre-bidding would be if others knew your pre-bids. SwapFest has a strict privacy process — only Luke Webster and I know the pre-bids right up until the start of SwapFest Live. We may share how many pre-bids have been received in total but not what domain, who bid or for how much.
- Pre-Bids are Strategic: With more than 5,000 assets up for bid, it will pay to do your homework and map out bidding targets before the action begins. While nobody is likely to win all of their pre-bids, pre-bidding means you won’t forget to bid when the action begins.
For anyone in Miami, stop by the SwapFest cabana to learn more about SwapFest and Epik. For anyone not in Miami, we’ll keep blogging about latest SwapFest news and answering popular questions about SwapFest.