How do you cancel a Sedo sale? Need advise.

[Datalife]

Hi can anyone help me out with this situation. I have posted a site on Sedo for sale for $300 (which is really cheap) and I got a bid from someone for Euro 200. Right now, Euro 200 is under $300 once converted.

My problem is I forgot that Sedo charges a minimum 50 Euros on whatever sales that go through. That means I'll only get Euro 150 which works out to $230 or so.

In the meantime, I received an offer for $300 outside Sedo from someone whom I corresponded with last year.

I've agreed to sell to that person who offered me $300 outside Sedo....but what about my Sedo sale?

How do I cancel it? Help me out anyone?

 

[Jaco]

Honor your first sale, even if it's for less, and tell the second seller that you already had a binding commitment.

"Integrity" is doing the right thing, even if you could technically 'get away' with something else.

 

[gazzip]

I don't think you can cancel it .....and I don't think you should TBH, sometimes learning experiences cost money.

..breathe in...breathe out ...move on !


.

 

[Bannen]

You didn't mention whether you had already ACCEPTED the original Sedo offer; if you accepted it, then that transaction is binding, that's a real contract just as if you'd told your best friend 'sure, I'll sell you my bike for $100'; keep your integrity there and go through with the sale. Just because another friend comes along and offers 150 after that, you don't f**k your best friend and take the higher offer... you've already made a good-faith deal with your first friend.

If you didn't accept the offer yet, that's a different story. If someone makes an offer thru Sedo on your name, you can turn the offer down. If you make a higher counter-offer back to them, they can turn that down; or if they accept the counter offer, that is now a binding contract, since your counter offer is saying 'I will sell the domain to you if you accept this price'.

In short: if you accept a Sedo offer, or make a counter offer that is accepted, it's a binding contract between you, Sedo, and the buyer. Tell your other private party buyer sorry, your mistake, you had a binding previous offer through Sedo.
If you haven't yet accepted the Sedo offer, you can do whatever you want with the name.

The above is, of course, guidelines if you want to be known as an upright, honest domain trader. If that doesn't matter, then sure, make all kinds of sale promises, and go back on them whenever you get higher offers Often, honesty/integrity means losing out on something you might want. But that's always the test, right?

 

[Jaco]

You didn't mention whether you had already ACCEPTED the original Sedo offer; if you accepted it, then that transaction is binding

If you didn't accept the offer yet, that's a different story.

Very true, good point. OP didn't mention if he accepted the offer on SEDO or not.
If not, then no worries. Take the better of the two offers. If you did accept the offer, then honor your commitment. It would be tremendously weasel'ish to not hold up your end of the bargain.

Is your integrity worth $70? For some people, yes, Their integrity can be bought and sold for sums like $100, $70, $50, $10, $5.... For others, there is no price on their integrity.

 

[Datalife]

No I have not agreed to any sale yet on Sedo.

The thing is he made the offer in Euros which amounts to my asking price in dollars. So I cannot make a counter offer above my asking price...

But after the Sedo fee, it is way less than what I expected....and I didn't use Sedo all this while, so I didn't know about their Euro 50 fee...

BTW, how safe are Paypal Echecks?

Cos the buyer has sent me a Paypal Echeck but it will take some time to clear and in the meantime he is asking me to push the domains to him. So I'm starting to be a bit suspicious.....

Any advice? Thanks.

 

[Bannen]

No I have not agreed to any sale yet on Sedo.

The thing is he made the offer in Euros which amounts to my asking price in dollars. So I cannot make a counter offer above my asking price...

But after the Sedo fee, it is way less than what I expected....and I didn't use Sedo all this while, so I didn't know about their Euro 50 fee...

BTW, how safe are Paypal Echecks?

Cos the buyer has sent me a Paypal Echeck but it will take some time to clear and in the meantime he is asking me to push the domains to him. So I'm starting to be a bit suspicious.....

Any advice? Thanks.

Tell buyer you need to wait for the echeck to clear, since you don't actually have the money in the bank until it does. Just because he made the payment doesn't mean that you have received it. Don't push the name until you know the funds are in your account.

Since you didn't accept the sedo offer, you're free and clear to sell the name to someone else
Let us know if it goes thru smoothly. GL

 

[Datalife]

Tell buyer you need to wait for the echeck to clear, since you don't actually have the money in the bank until it does. Just because he made the payment doesn't mean that you have received it. Don't push the name until you know the funds are in your account.

Since you didn't accept the sedo offer, you're free and clear to sell the name to someone else
Let us know if it goes thru smoothly. GL

Thanks for the advice

You know what? I've just been asked to cancel the E-Check in place of a normal Paypal payment by the buyer....

BTW, how do you seasoned guys handle chargeback problems with Paypal because to my understanding so far (and all this while I've been mostly a buyer not a seller) that Paypal does not offer Chargeback Protection for Domain Sales?

I'd be most interested to get any advice

 

[DnEbook]

No I have not agreed to any sale yet on Sedo.

The thing is he made the offer in Euros which amounts to my asking price in dollars. So I cannot make a counter offer above my asking price...

But after the Sedo fee, it is way less than what I expected....and I didn't use Sedo all this while, so I didn't know about their Euro 50 fee...

BTW, how safe are Paypal Echecks?

Cos the buyer has sent me a Paypal Echeck but it will take some time to clear and in the meantime he is asking me to push the domains to him. So I'm starting to be a bit suspicious.....

Any advice? Thanks.

i have sold a domain via paypal echeck, it was agreed that after the 4-5 day clearance time only then would the domain be pushed , it worked out fine , but yes do wait until cleared

 

[ssamriga]

well, I would send the domain to Sedo auction if your "outside sedo" selling agreement isn't final, and then both buyers could bid the price up. If you haven't accepted the Sedo offer and have accepted the "outside" offer than there isn't many options- just don't accept Sedo offer and sell to the other party.

 

[DomainTalker]

I have posted a site on Sedo for sale for $300 (which is really cheap) and I got a bid from someone for Euro 200. Right now, Euro 200 is under $300 once converted.

Hang on...


If you choose a 'For Sale' (at $300) listing for a domain at Sedo - and, someone offers you that 'For Sale' price via Sedo - then, its my understanding, a binding contract has been made. You don't get the option to reject it....You offered it for sale at a certain price, and someone accepted that offer....ie a contract......And, Sedo's fee is Sedo's fee.


That's different from listing a domain at Sedo as 'Make Offer' - where you can accept, reject, counter-offer, or send to auction, any offer made on the domain.


If the offer for your 'For Sale' (at $300) domain via Sedo is LESS than the $300 USD that you listed it at - and you haven't accepted the offer - then there is no binding contract for it, and you're free to sell it to someone else.

.

 

[mwzd]

If it was me, I'd take the sedo offer.

Much safer, the other 'offer' sounds dubious.

:wave:

 

[Datalife]

Hang on...


If you choose a 'For Sale' (at $300) listing for a domain at Sedo - and, someone offers you that 'For Sale' price via Sedo - then, its my understanding, a binding contract has been made. You don't get the option to reject it....You offered it for sale at a certain price, and someone accepted that offer....ie a contract......And, Sedo's fee is Sedo's fee.


That's different from listing a domain at Sedo as 'Make Offer' - where you can accept, reject, counter-offer, or send to auction, any offer made on the domain.


If the offer for your 'For Sale' (at $300) domain via Sedo is LESS than the $300 USD that you listed it at - and you haven't accepted the offer - then there is no binding contract for it, and you're free to sell it to someone else.

.

The main problem is the currency change. I think I can still counter offer in Euro then....since the bidder bid in Euro.

And Sedo is deducting in Euro; I listed my price in USD....I lose more as a result.

That's a difference there.

---------- Post added at 03:02 PM ---------- Previous post was at 02:27 PM ----------

well, I would send the domain to Sedo auction if your "outside sedo" selling agreement isn't final, and then both buyers could bid the price up. If you haven't accepted the Sedo offer and have accepted the "outside" offer than there isn't many options- just don't accept Sedo offer and sell to the other party.

I think that makes sense. The bidder should have bid in dollars to save us all this trouble and also Sedo would have to deduct in dollars. That would have been the best way...

 

[Bannen]

If you choose a 'For Sale' (at $300) listing for a domain at Sedo - and, someone offers you that 'For Sale' price via Sedo - then, its my understanding, a binding contract has been made. You don't get the option to reject it....You offered it for sale at a certain price, and someone accepted that offer....ie a contract......And, Sedo's fee is Sedo's fee.


If the offer for your 'For Sale' (at $300) domain via Sedo is LESS than the $300 USD that you listed it at - and you haven't accepted the offer - then there is no binding contract for it, and you're free to sell it to someone else.

.

This is from Sedo's TOS (Terms of Service):

'5.1.1.5. Fixed Price and Minimum Offer Listings

If the Seller states a fixed selling price, then a binding offer for the conclusion of an agreement for the stated sales price lies in the listing of the Domain and is binding until the Domain listing in the Seller's user account has been changed and the change has been reflected on the Domain Marketplace. The sales price is considered to be the end price for the Buyer including any applicable taxes.
If the Seller does not state a fixed sales price, the Domain listing serves as an invitation for other Users to submit an offer for the purchase and sale of the Domain that is the subject of the Domain listing.
If the Seller states a minimum offer, the Domain listing serves as an invitation for other Users to submit an offer in excess of the stated amount for the purchase and sale of the Domain that is the subject of the Domain listing.'

What it means is, as DomainTalker said, if you have your domain listed for sale at a fixed price ($300), then that is considered a binding price should someone offer that amount at Sedo. If they offer even $1 less, then the offer is considered below your asking price and is not a binding offer and can be rejected. Technically, if they offer $300, it is binding, as that is your BIN price.

It works a little differently at auction; if someone makes a bid on your name that is less than any fixed price you have set, you can push the name to auction, and bidding will actually be allowed to go PAST your bin price, as high as the bidders take their bidding; but if you're not at auction and someone offers your BIN price, you're required to follow through with the deal at that price and cannot technically reject the offer.

However, you stated in your original post that the 200 euro offer came in at less than $300, so the offer was not for your bin price and you can still reject it.
***You may want to go into your sedo account right now and double your bin price, just in case you get another offer there for exactly $300

 

[Datalife]

This is from Sedo's TOS (Terms of Service):

'5.1.1.5. Fixed Price and Minimum Offer Listings

If the Seller states a fixed selling price, then a binding offer for the conclusion of an agreement for the stated sales price lies in the listing of the Domain and is binding until the Domain listing in the Seller's user account has been changed and the change has been reflected on the Domain Marketplace. The sales price is considered to be the end price for the Buyer including any applicable taxes.
If the Seller does not state a fixed sales price, the Domain listing serves as an invitation for other Users to submit an offer for the purchase and sale of the Domain that is the subject of the Domain listing.
If the Seller states a minimum offer, the Domain listing serves as an invitation for other Users to submit an offer in excess of the stated amount for the purchase and sale of the Domain that is the subject of the Domain listing.'

What it means is, as DomainTalker said, if you have your domain listed for sale at a fixed price ($300), then that is considered a binding price should someone offer that amount at Sedo. If they offer even $1 less, then the offer is considered below your asking price and is not a binding offer and can be rejected. Technically, if they offer $300, it is binding, as that is your BIN price.

It works a little differently at auction; if someone makes a bid on your name that is less than any fixed price you have set, you can push the name to auction, and bidding will actually be allowed to go PAST your bin price, as high as the bidders take their bidding; but if you're not at auction and someone offers your BIN price, you're required to follow through with the deal at that price and cannot technically reject the offer.

However, you stated in your original post that the 200 euro offer came in at less than $300, so the offer was not for your bin price and you can still reject it.
***You may want to go into your sedo account right now and double your bin price, just in case you get another offer there for exactly $300

Thanks Bannen, you took the trouble to dig that out!

I guess if I cancel and sell to the other buyer (but of course it is not as safe as with Sedo) it isn't totally ethical, but then I would have sold to him if the bidder had bid at $300 at the start. That would be binding as everyone said.

But since he bid in Euro which does not come up to $300 (it's around $296) technically....it isn't wrong to cancel now is it and take the other guys offer which is fast but not guaranteed money....all the risks that come with it. (We stuck with the ECheck so I can still refund him anytime within this few days).

Or should I take it to auction? I cannot modify my price now in Sedo, it is grayed out. I wish I could change the price to $350 so that Sedo can take their $50 and I can take my $300 :p I (think) the Euro buyer would still agree if only I could change it. All I want out of this now is $300.... to be honest. Is it possible to even talk to the Euro guy over Sedo?

Actually $300 that is a pretty low asking price if you ask and I knew it at the start, but I need the money ASAP to do something.

And if the buyer is from Europe and using Euros, it is even cheaper....

 

[Michael]

If the domain isn't showing up in your transfer center, you don't have to sell.