Buying a domain (from a seller) question

[FCSJamie]

Hey,

I'm currently looking at a domain that's listed on GoDaddy and on Sedo. However on Sedo the seller has a buy it now price of 1k which is ridiculous, they'll never get that and they also accept offers.

On GoDaddy it says the domain has had two bids/offers on it and the enter bid amount is $96 or more. Is this amount the next bid amount or the minimum bid amount?

Also, once the domain auction runs out in 4 days then is the highest bidder automatically awarded the domain or does the owner of it have to decide whether to accept or decline the final amount?

Printscreen: gyazo.com/a24ef91bc18f59c892874d8165054809.png

Cheers

 

[Keith]

The minimum bid is just to get the sellers attention. It is not a reserve! You can bid the minimum and get a counter offer or nothing.

As for the $1k asking price...the seller could as for a million. It's up to you to negotiate a fair price or move on!

 

[FCSJamie]

The minimum bid is just to get the sellers attention. It is not a reserve! You can bid the minimum and get a counter offer or nothing.

As for the $1k asking price...the seller could as for a million. It's up to you to negotiate a fair price or move on!

Thanks for your reply Keith,

What happens if I bid though on GoDaddy and I'm the top bidder, do I get awarded the domain or does the owner have to accept or decline the final highest bid? Ta

Edit: Just done some further reading and it seems he has to accept my offer due to the listing type 'Offer/Counter Offer'

 

[Ted.T]

Thanks for your reply Keith,

What happens if I bid though on GoDaddy and I'm the top bidder, do I get awarded the domain or does the owner have to accept or decline the final highest bid? Ta

Edit: Just done some further reading and it seems he has to accept my offer due to the listing type 'Offer/Counter Offer'

It's not an auction, it's an offer/counter-offer sale. You can't win it until the seller accepts your offer. And the fact that you are the highest bidder doesn't matter, the seller decides to sell for that price or not.