question Sedo: Receiving offer > push to auction

eternaldomains · Sep 19, 2019

Got an small offer on Sedo but I intend to push to auction since I read that that way it'll be a free auction, but I need to know what will happen:

Example case: I get a $200 offer for a domain priced at BIN $1200 (FYI not real amounts)

1) Start bid: does the bid have to start at $200, or do I get to set it lower/higher?
2) BIN: can it be changed before and/or during auction?
3) Does auction start automatically with 1 bid from the original person making the offer or not?
4) Any way to add descriptions to domain in auction? I know I can add details for normal landing/offer page but not sure if the same goes for auctions.
5) (Just to confirm) Auction is only 7 days right?
6) any other things I should know?

Didn't log into Sedo yet, didn't want to trigger anything yet (if any, don't know if I will have to respond once I log in or ??)

biggie · Sep 19, 2019

eternaldomains said:
1) Start bid: does the bid have to start at $200, or do I get to set it lower/higher?
2) BIN: can it be changed before and/or during auction?
3) Does auction start automatically with 1 bid from the original person making the offer or not?
4) Any way to add descriptions to domain in auction? I know I can add details for normal landing/offer page but not sure if the same goes for auctions.
5) (Just to confirm) Auction is only 7 days right?
6) any other things I should know?

1. yes, starts at $200 and you cannot change it
2. no
3. yes
4. no
5. yes
6. yes, READ sedo's terms of service and auction process procedures

and if you login, it won't automatically trigger any action that isn't already in action

Good Luck!

imo...

saucey · Dec 30, 2019

Any update on what happened? Did you push it to auction? Did you sell it for higher than the original offer?

I'm in the same position and debating the same thing... Do I counter with a higher price and risk having he potential buyer cease negotiations.... or do I push the auction and hope somebody else in Sedo Land is interested in the name and a bidding war is started?

biggie · Dec 31, 2019

saucey said:
Do I counter with a higher price and risk having he potential buyer cease negotiations.... or do I push the auction and hope somebody else in Sedo Land is interested in the name and a bidding war is started?

Hi

only you can make those decisions.

if the offer would be a satisfactory selling price for you, then any higher bids is a bonus

if the offer is not, then you risk selling for that amount, if there are no other bids.

cue Jeopardy music.....

Good Luck!

imo...

saucey · Dec 31, 2019

biggie said:
Hi

only you can make those decisions.

if the offer would be a satisfactory selling price for you, then any higher bids is a bonus

if the offer is not, then you risk selling for that amount, if there are no other bids.

cue Jeopardy music.....

Good Luck!

imo...

Exactly...

I guess I should have specified in my earlier post that the offer is a lowball offer... a whopping $200.... I feel fair price is in the low-to-mid xxxx ... with the possibility of going much higher if an end user bidding war started...so, I'm really not comfortable selling at the price offered...

I have sold other names on Sedo but I have never sent an offer to auction before so I just wanted to find out how @eternaldomains did and if it's a good way to gain traction and if exposure is better or if you still need to self promote while it is in auction...

I think if you are happy with the offer then it's a no-brainer to send it to auction... but if the offer is low, do you risk sending it to auction and then hope that with the added auction exposure more people get interested and start bidding it higher?

biggie · Dec 31, 2019

Hi

even if someone else auctioned their name and got higher bids from exposure, that in itself, doesn't mean there will be a favorable outcome for you.

as you know, each name is unique, so activity is always related to that.

some years ago, I sent a name to auction at sedo once, after getting an initial 4 figure offer that I would have been happy to sell for.
but, I didn't get any additional bids during that auction.

domain was purecontent.com

imo...

.X. · Jan 2, 2020

I don't recommend doing it, the backlash isn't worth the gamble IMO.

saucey · Jan 2, 2020

.X. said:
I don't recommend doing it, the backlash isn't worth the gamble IMO.

Backlash? You mean possibility of it back firing? Or, is there more than just that to be concerned about?

sharfab · Jan 2, 2020

I dont like the risk of the auction whereas you may not get any offers above the initial $200 dollars, which then obligate you to sell the name at that low ball price..

.X. · Jan 2, 2020

saucey said:
Backlash? You mean possibility of it back firing? Or, is there more than just that to be concerned about?

Yeah, back firing, i had a friend send his name to auction after a formal offer was made, the person who submitted the original offer backed out once the name went to auction. It was a $4,000 offer, that hurts. the worst part, the name ended up selling for $750 on auction at NameJet , he had $900 in the name.

saucey · Jan 2, 2020

.X. said:
Yeah, back firing, i had a friend send his name to auction after a formal offer was made, the person who submitted the original offer backed out once the name went to auction. It was a $4,000 offer, that hurts. the worst part, the name ended up selling for $750 on auction at NameJet , he had $900 in the name.

Interesting....

Not sure when that was, but these days that is not allowed to happen. The original offer stands as the bid and the buyer cannot back out....

So, if your friend was offered $4,000 and sent it to auction, he would be guaranteed to receive the $4,000 no matter what, but would have the possibility to earn even more money if somebody put in a higher bid during the 7-day auction.

So if you get a good or even a great offer for your name I don't see any problem with sending it to auction as you are definitely guaranteed that original amount.

It's more risky to send it to auction if you're doing so on a lowball offer. If nobody else bids in the auction then you are bound to sell it at that lowball price.

.X. · Jan 2, 2020

saucey said:
Interesting....

Not sure when that was, but these days that is not allowed to happen. The original offer stands as the bid and the buyer cannot back out....

So, if your friend was offered $4,000 and sent it to auction, he would be guaranteed to receive the $4,000 no matter what, but would have the possibility to earn even more money if somebody put in a higher bid during the 7-day auction.

So if you get a good or even a great offer for your name I don't see any problem with sending it to auction as you are definitely guaranteed that original amount.

It was in 2009, I myself haven't ever sent a name to auction at Sedo, I have always went the offer/counter offer route. But if i have nothing to lose by sending a name to auction, i would do it

UncleBrand · Jan 2, 2020

you have more chances increasing the offer by negotiating
just counter with what you will be happy to get for the domain
offers can go back and forth with serious prospect for some time

branding · Jan 2, 2020

saucey said:
Not sure when that was, but these days that is not allowed to happen. The original offer stands as the bid and the buyer cannot back out....

Interesting. Didn't know they changed that. Never sent a domain to auction.

As a buyer I would be pissed off though. I think this is a ludicrous way of handling offers sent to auction by Sedo.

The option is fine (for some cases) but making the initial offer a binding bid in an auction is insane.

capybara · Jan 2, 2020

NameDeck said:
The option is fine (for some cases) but making the initial offer a binding bid in an auction is insane.

Why is that "insane"? Any offer is binding, other than some delay and publicity, the buyer still has to pay the price.

branding · Jan 2, 2020

Don Gondon said:
Why is that "insane"? Any offer is binding, other than some delay and publicity, the buyer still has to pay the price.

I agree. But from my point of view when I make an offer that offer is valid only on a direct sale. That would not mean I'm willing to participate in an auction.

Even if I would be the sole bidder, once it's sent to auction that could delay the purchase which can be annoying.

In my opinion when you push a domain to auction you decline the offer therefore the first bid shouldn't be binding.

I'm sure it's all covered somewhere in Sedos fine print but I find it questionable.

branding · Jan 2, 2020

Came across this DNW article on Sedo auctions. Might be an interesting read to some:
https://domainnamewire.com/2018/12/19/pushing-domains-to-auction-at-sedo/

biggie · Jan 7, 2020

NameDeck said:
Came across this DNW article on Sedo auctions. Might be an interesting read to some:

Hi

the article basically says some of the same things we've already mentioned, for both sides of the coin.

as for questioning whether or not to send those two names to auction:
that's the sellers choice and option to exercise at sedo

and
since the writer of article doesn't know what sellers' roi margin is, for those names respectively,
then how can they say what price to sell for or at?

it's only in retrospect,
where one can say, which decision should have been made or was the right one to make, at a particular moment in time.

in the moment, decisions,
for each person, is their moment
the space of time where they weight the if's and then's
of the consequences, or benefits,
that will or may happen, with the click of a button.

imo....

saucey · Jan 7, 2020

I decided not to push to auction but instead responded with an asking price (instead of "make offer") and a note to the seller explaining that their offer was too low but that I would accept an offer within a certain range...

Three or four days has passed now without response. I believe they were probably bottom fishing so I'm no longer expecting a response and will most likely not make a sale with this person(s) on this name.

question Sedo: Receiving offer > push to auction

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