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Verification needs to be required on all offers not just auction bids

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equity78

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So earlier in the week we saw the 2 million pound bid on Lifestyle.com cancelled. Some wondered how could this happen? Sedo makes people submit to greater verification to bid 10,000 or more. Additional Certification may be required: Please note that in order to place bids above 10,000.00 EUR, an additional certification is required and completion of this process may take several business … [Read more...]
 
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I don't think it's a good idea to force buyers through the verification process just so they can make an offer, but maybe it shouldn't be possible to start an auction based on an unverified buyer's offer (actually I don't think it should be possible at all, it's a terrible "feature" from the buyer's point of view - actually I wouldn't be at all surprised if the purchase fell through exactly because of that).
 
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Obviously, @Sedo wont change,

“So naturally, the problem has to fall on us.”
 
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Did Sedo ever fix misleading “BIN” “auction”?

Nope.

Samer
 
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I don't think it's a good idea to force buyers through the verification process just so they can make an offer, but maybe it shouldn't be possible to start an auction based on an unverified buyer's offer (actually I don't think it should be possible at all, it's a terrible "feature" from the buyer's point of view - actually I wouldn't be at all surprised if the purchase fell through exactly because of that).

Not any offer, for offers 10,000 or more like auction bids.
 
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Not any offer, for offers 10,000 or more like auction bids.

That would cost sedo many lost sales, they will never do it (I wouldn't).
Or - in a slightly better scenario - it would put an artificial limit of first offers at 9999 euro, which would also impact the sales.
 
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$10,000 seems like a good threshold to require verification.
 
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The term "Your offer is legally binding..." is obviously not good enough these days.

I think pre-registration & verification for high value auctions is the only way forward.
 
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A deposit on whatever marketplace the bids are being made should be required. The amount to be placed on deposit would based on whatever limits the bidder requires (something like 5% of total limit). If a bidder does not complete the auction, 75% of the deposit is paid to seller and 25% goes to the market place for dealing with the deadbeat. Of course the bidder is permanently banned from the marketplace in the event of non payment.
 
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I am not accusing anyone of anything, this is a general comment.

The auction business be it domains or other items has a history of being very dirty.

Some auction houses might not mind fake bidders, it helps push the price up.

In addition, by having a platform with little verification, it allows them to create fake accounts to push up bids especially when they might know the amount of a proxy bid.

Check what just happened on NP, imagine without the mod

https://www.namepros.com/threads/ojul-com-means-sole-in-hindu-dutch-next-bid-1010.1164124/
 
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SEDO is still very powerful,
I sold a couple of good domain names on SEDO,
I hope I can sell more domains in the future
 
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Not any offer, for offers 10,000 or more like auction bids.

Sorry, i misunderstood as “all” too...
(though still dont like Sedo.. they dont change )

We trying make industry liquidity easier
things like verification further barrier to entry

$10k is more than fair; wish u reflected in title.

Sorry again, @equity78

Samer
 
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