advice Domain sold at both Afternic and Sedo.

[medomain]

What do I do in this case? A domain is sold on auction at Sedo and BIN at Afternic. The afternic sale is two times more than sedo. Any suggestion what to do now?

 

[ivey]

Lets get the facts straight(The Bottom Line)...

1. The domain did not sell on both marketplaces at the same time. Why? The moment you started an auction at sedo where people are actively bidding..then you have already sold the name at sedo. You may not know the final price until the auction ends but the name is guaranteed sold from the first bid. So lets cut out this lie that the name was sold at both places. Implying it happened at the same time period. You can't start an auction and have a name listed as "buy now" somewhere else. That means two possible things: (A)-You were irresponsible and have no one else to blame. (B). You knew the name was listed on Afternic and did nothing about it, meaning you already made up in your heart and mind to not "honor" the auction if your name sold elsewhere while the auction was live.

Honor the sale from where ever the sale completed first. Maybe sedo..because the auction started before your name sold on afternic. Otherwise you would not have started the auction. And you would have got into an agreement with sedo already.

Integrity matters.

Yes, Afternic would mean more money. it's tempting, we can all relate and we understand. But the loss of your integrity in this business and in general is a far bigger loss. And the extra cash is temporary. So you would lose your sedo account, lose your honor/integrity, lose business and trust from your fellow domainers here on namepros. Sometimes the right call isn't the easy call, but it's the only call. Don't beat up yourself... just use this as a lesson to be better.

Concern:
Lets hope you didn't have the name on "fast transfer".
Maybe a buyer who missed out on the auction could be phony too but not wrong. Why? They may lose the auction, but have knowledge of afternic/godaddy fast transfer and took advantage to get around owning the name.

 

[karmaco]

If you take the cash on Afternic , I hope Sedo will ban you ️

You have a contract with Sedo

@Sedo

So the binding legal agreement at Afternic is less meaningful? The guy made a serious mistake but no venue deserves it more than the other.

 

[karmaco]

The correct answer from my opinion is if the Afternic buyer purchased before the completion of the auction that happened first. The Op made a serious mistake but if a receipt of money at Afternic happened first I would honor that and pay the penalty at Sedo.

Based on the timing it seems likely someone bidding in that auction saw the buy it now and really wanted that domain.

Not buying this Sedo auction takes presidence over a buy it now that happens before it ends. An auction could end with a non paying bidder. Nothing is set in stone until money is received.
The OP put both platforms in a bad spot.

 

[Michael Ehrhardt]

Wr

So the binding legal agreement at Afternic is less meaningful? The guy made a serious mistake but no venue deserves it more than the other.

wrong
When the auction started the domain should be deleted

 

[poweredbyme]

Wr

wrong
When the auction started the domain should be deleted

It doesn't change anything for the buyer at Afternic. He has the same legal rights with the buyer at Sedo. Both of them made payment for the same domain

This is a complicated situation. Both of buyers are entitled to own that domain

This is like a puzzle.

IMHO the fair solution should be like this: the buyer at Afternic should be the owner of the domain as he paid more. But the seller shouldn't take advantage of the higher price as the rights of the buyer at Sedo should be compensated. Seller should receive the money from afternic and should pay the difference to the buyer at sedo.

What do you think guys?

 

[Michael Ehrhardt]

It doesn't change anything for the buyer at Afternic. He has the same legal rights with the buyer at Sedo. Both of them made payment for the same domain

This is a complicated situation. Both of buyers are entitled to own that domain

This is like a puzzle.

IMHO the fair solution should be like this: the buyer at Afternic should be the owner of the domain as he paid more. But the seller shouldn't take advantage of the higher price as the rights of the buyer at Sedo should be compensated. Seller should receive the money from the afternic and should pay the difference to the buyer at sedo.

What do you think guys?

Logic
The auction started before the BIN at Afternic
First come....

 

[poweredbyme]

Logic
The auction started before the BIN at Afternic
First come....

Only the seller knew who was the first. Buyer at Afternic was not aware of it, perhaps he/she still doesn't know anything.
Another detail is that the actual payment date matters, not the auction start-end times. Seller is the sole owner until buyer made payment. You may argue there is an auction contract that allows the auction winner to pay at a later date. However in the mean time, seller is still the sole owner. IMHO, if someone else makes payment before the first buyer, seller may choose that second buyer, while the ownership was not transferred to the first buyer for the (supposedly) delayed payment of the first buyer. Logically, this situation maybe considered as the expansion of the auction at a different market place as someone else in a different place paid more for the same domain while the ownership transfer was not completed.