Bad form to ask buyer to go through auction?

[deadweight]

If I've been contacted through email about one of my domains and he has submitted a price he's willing to pay... is it bad form to suggest going through a sedo auction? Obviously that would maximize my potential for the domain... but might also turn off the buyer and crush the deal.

Any thoughts?

 

[IAmAllanShore]

Being upfront with the buyer is definitely the route to go - just relay that you think it is worth more than that, but if he is unwilling to go higher and thinks the price is fair, he is more than welcome to let that offer start the bidding (Or even start the bidding at a lower amount if you're confident that the interest in the domain does exist.).
-Allan

 

[dgridley]

I'd rather someone just come back at me with a price they'd be willing to accept.. suggesting an auction would just turn me off to the deal.

 

[deadweight]

I'd rather someone just come back at me with a price they'd be willing to accept.. suggesting an auction would just turn me off to the deal.

Yeah, kinda my thoughts too. Hard to walk the line between being a good businessman and being a jerk, I suppose.

Thanks guys.

 

[Spade]

Agreed. I would pass at that point, in addition your creating lots of red-tape (uneccesarily) and you also run the risk of simply losing more of your money, if in fact the auction stays at the same price, and you have to pay sedo's fees.

If a buyer told me to bid at Sedo, I would simply tell him Im no longer interested.

Justin

 

[tmuldoon]

It depends.

Do you want to use Sedo to try and get a better price, or for payment security?

I would say it has a high probability of putting the buyer off unless they are very motivated.

 

[dgridley]

Payment security is a good point but I still think it would turn off 99% of potential buyers.

Do you want to use Sedo to try and get a better price, or for payment security?

I would say it has a high probability of putting the buyer off unless they are very motivated.

 

[Ronald Regging]

If the buyer didn't find your domain through Sedo to begin with, then they more than likely either don't want to use Sedo (why they contacted you directly) or they have no idea what Sedo is. I imagine that in both cases, they will be reluctant to go through Sedo.

Also payment security can be had by using Escrow.com

If I'm looking to buy a name, I may peruse some auctions to see if I find anything I like. But if I'm looking at purchasing a specific name, I dont want to waste time with unnecessary third parties, 7 day auctions, etc... We either come to a price agreement or we dont.

*also

As a businessman, it's your job to sell the value of the domain to the buyer. If you ask to put it on auction, you're essentially stating that you aren't sure what its worth. This sort of indecision will only cause doubt in the buyer's mind as to whether the domain is actually worth what you are asking. If you don't have a solid figure in mind, then it's worth exactly what the buyer's initial offer was

 

[jacal1]

I agree with the other posts, but I think it really depends on the name. The more obscure and niche, the more likely I'd accept an offer. The more generic and potentially popular, the more likely I'd be to send it to auction.

Another way to view it: the more likely that this offer will be the last for a while, the more likely you should take the $$$$.

Can you give a rough idea of the domain, like in terms of google, ovt, price of the item it refers to if applicable, and unique visits numbers.

 

[Kaleidozone]

I've never bid on a Sedo auction, but aren't Sedo bidders told they are bound to their bid if the domain goes to auction and there are no higher bidders within the time frame of the auction?
That being said, I'd definitely go the negotiation route first if it's a price you're willing to accept. I had one auction winner (out of 3) who didn't pay and he / she wound up getting their account barred and it was not worth the lost time, etc. for me and I was very patient in waiting for payment. At the end of the day, I wasn't sure if it was the auction that put him / her off or if they just couldn't pay or changed their mind. From my limited experience, I'd recommend negotiation and if you can live with the price take it.

 

[labrocca]

If I was buyer...I would let you auction it but I wouldn't place a bid.

If I was seller (YOU) I wouldn't use Sedo and just negotiate to a price I felt fair. Why give Sedo a cut?

 

[Kaleidozone]

If I was buyer...I would let you auction it but I wouldn't place a bid.

If I was seller (YOU) I wouldn't use Sedo and just negotiate to a price I felt fair. Why give Sedo a cut?

It goes into the auction with the interested buyer's offer made via Sedo as the reserve and current high bid, and they're bound to their high bid if nobody bids more and if they don't honor their offer made via Sedo their account is closed.

And, I have sold domains outside of Sedo as well. Since they've cut their miminum fee way down if the domain you sell through them is parked with them, it's not a bad deal :imho:

 

[Ringtonebro]

Sending it to auction is not customer friendly. If I were the buyer I would walk away.
You are better of making a counter-offer if you are not satisfied with the offer.

 

[goodkarmaco]

I just received a offer a couple weeks ago for $120 thru Sedo for a name, I sent it to the Sedo auction and four days later the name sold for $601. I am not sure the buyer would have paid that amount if no other bidders showed interest.

The auction is good if you want others to see it.