Do offers mean anything nowdays?

[kidalex]

I had 3 offers in the last couple of weeks: one on SeDo, one on Moniker and one through a private contact. They were between $50 and $200, so nothing big. But once I've accepted the offers - I've never heard from them. So, here are my questions:

1. Why make an offer if you really don't want the goods?

2. Is this common in the domain industry?

3. Why don't sites like SeDO and Moniker force the buyers into the payment like eBay does where they simply subtract the funds from your known money source?

Thank you for your advice

 

[Pound]

1. People could be making offers without properly thinking through their options once they have the domain. When they realise that they could be the new owners of the domain they will do more research and find out they actually don't want it after all.

2. I have never had an experience such as this, however, it does seem to happen fairly often. There are huge problems on sedo with buyers not paying and sellers not giving the domains, etc.

3. This is an idea - I am fairly sure that this doesn't happen on eBay, though? I know that sellers pay for listing fees, etc. but I thought there was a large problem of non-paying bidders on eBay as well.

Sorry, and good luck with future offers! :tu:

 

[Spade]

Offers come in all the time. Private offers are easy to qualify. Get the contact information of the interested party. If they dont give it to you - odds are - they are not truely interested. Its just one of those stats. Out of every offer, I have about 1/6 actually close as a deal.

(This stat does include those $20 Offers I get through parking providers)

Justin

 

[accent]

Ebay does not remove the money from a buyers account, at Paypal or elsewhere. They do have a feedback system where established buyers and sellers have an incentive to follow through.

Fabulous has a system where if a buyer wants a domain he pays right then and the domain is his right then. I think this is surely the future of the domain industry and will be a huge boost to prices when it comes.

Sadly, the Fabulous people sound like they swallowed a bunch of marketing books and the cost of the system to the seller is ridiculous. Someone will fix this and become extremely wealthly in the process.

Inefficient markets compel development of more efficient practices. Take that you MBAs!

 

[kidalex]

OK, back to the topic. So, making an offer and agreeing on a deal means nothing in this industry then. Is that correct?

 

[larryharlow]

This guy once offered me $500 for the domain name Fórex.com(at ND) , it was clear it was a IDN but then he said he didnt want the domain.

So , to me itś like some Domainers make crazy offers at times (it has happened 2 my self) , then they win auctions they didnt expect 2, and they run...

 

[Spade]

I think you just need to roll with the punches... an Offer doesnt mean anything until the deal is closed... I promise you that.

Justin

 

[goodkarmaco]

Spade that is true for a personal contact thru a who is or a one on one with the domain owner.

But if a offer comes in thru Sedo or a auction house there should be an obligation to buy it. The buyer should in my opinion have to place a certain amount into the bid say 10% of the purchase price and if he backs out that 10% goes to the domainer for his time and hassle.

We have to have some kind of commitment.

 

[tristanperry]

OK, back to the topic. So, making an offer and agreeing on a deal means nothing in this industry then. Is that correct?

True.

 

[seeker]

as far vas going through a contract (i.e. SEDO), and offer as binding.
Unfortunately, as of late, I get many such offers, that are accepted, and the peron/company doesw not go through it.
It is a shame that SEDO (and others) do not make an extra effort to somehow make sure the buyer is legit.
My last one was for $4000, and I will be pursuing it for damages as I had to wait for 50 days, and in the mean time have the emails to prove that I had another offer that i couldnt accept because i was bound by SEDO's accepted offer.
ok, the money isnt a lot, but its the principal, and I will (as low cost as possible) make sure I go after that person for the loss of potential revenue and breach of contract. Sedo will give you the details in such cases. In the past I did nothing (even for much more), but it is time someone, somewhere does something.
as for tristan's reply, it is NOT true. An email agreement can be and is a contract.

 

[creature]

An email agreement can be and is a contract.

Yes, apparently it's a contract if,

1) you know who you are dealing with
2) you know what it is you are buying/selling & price
3) there's action by one side, ie payment or transfer

I guess various terms can be added to the above!

 

[seeker]

My example was specific to SEDO (and applicable to Afternic and a few others) who do draw contracts...

 

[Spade]

An email agreement can be and is a contract.

Unfortunately as in most cases - When it boils down to it, this is going to be exceptionally difficult to uphold. I would never try to enforce an email as if it were a contract.

 

[Len]

I have had offers on this forum for 2 domains that have not been followed through with. The latest was a couple of weeks ago for $800....I have not heard from the person since and he/she has not answered my pm's even though I know they have read most of them. I personally would not make any offer unless I was going to buy! Appears some don't have any scruples!!

 

[domainacrobat]

Unfortunately as in most cases - When it boils down to it, this is going to be exceptionally difficult to uphold. I would never try to enforce an email as if it were a contract.

Unfortunately some folks do feel that an email is a binding contract.

I was in correspondeence with a buyer via email. He made an offer I made a counter offer. He usually replied within 1-2 days, but over the course of 1 week he never replied. I assumed he did not want it. Selling names is my business so I put it into auction and then I notified him that the name was in auction and he may bid if he wanted the name and that it was starting at only $1. There was even potential for him to get it for significantly less than my counter offer! He eventually placed a bid, but it was after the auction closed and I could not in good conscience honor his bid as there were other bidders. He got so mad that he basically threatened me and claimed we had an agreement I have copies of alll the emails blah blah blah! etc etc etc.


As for Sedo - I just had my first NON paying bidder 4 days ago. Sedo canceled the sale. Not my favorite thing. :td: Luckily it was only for $100. Which is pretty amazing because earlier this year I got a $400 bid for owner-manuals.com - Hmmmm I thought to myself this has to be a deadbeat bidder, nope, they paid quickly too!

IMO they need to start a feedback system with buyer ID.

 

[seeker]

guys.
at SEDO (someone please read their TOS), once an offer is accepted , it is BINDING and can be (and has been) enforced to the full length of the law.
The law that stipulates that emails are the same as fax contracts was passed in the US in the 90s.
But my point is, that IF you go through a broker, you DO have legal rights.

 

[Spade]

once an offer is accepted , it is BINDING and can be (and has been)

Although I doubt doubt it - Im curious in what case it was enforced? is this public info?

Justin

 

[creature]

I would never try to enforce an email as if it were a contract.

Why not? A deal is a deal and (as I understand) an email is a contract with the 3 points listed above.

 

[seeker]

what do you mean you doubt it???
Have you read the TOS at Sedo?
Have you looked through the various legal sections of different forums over the last years?
I am not sure what part you are dubting Justin.

 

[Spade]

what do you mean you doubt it???
Have you read the TOS at Sedo?
Have you looked through the various legal sections of different forums over the last years?
I am not sure what part you are dubting Justin.

Correction... I meant to say "Dont Doubt it" not "Doubt Doubt it"

However, I would love to see a court order forcing a completion of a sales or even awarding damages.

Why not? A deal is a deal and (as I understand) an email is a contract with the 3 points listed above.

How do you know the individual emailing you is who they say they are?... How do we know a kid didnt get on his parents computer? What aspect of the domain is legally binding? How do you enforce if an offer comes in from overseas?

Trying to enforce an email, as a legal contract is down right silly.

Justin