New Feature on Sedo's offer page - One to watch out for

[gazzip]

Hi all, I just noticed that on the offer page at sedo it now has a facility for the buyer to change what currency the offer is made in - ie $US £GBP and euros.

It says - The seller has listed the domain in USD. Please choose your preferred currency

Worth keeping an eye on what currency the offer comes through at - it could be an expensive mistake if you don't check it as the rates are very different.

If you get an offer for say - $100 but you think it is still set to pounds you could get a shock

.

 

[fonzie_007]

That's a good tool. I'm surprised they didn't have that function long ago, but it will help buyers and sellers alike to understand what they are really going to pay/receive.

 

[SimpleDomaining]

thanks for sharing. yea i would not think about that.

 

[gazzip]

I just found this on sedo's website - It explains it alot clearer:

New: Now possible to make bids in different currencies!

Several thousand domain names are transferred successfully though Sedo every month. Recent surveys have shown however that many potential buyers decide not to make an initial bid as they are unfamiliar with the chosen currency of the seller. In order to improve the sales process, Sedo have introduced a new feature to the bidding system.

If the potential buyer of a domain is unfamiliar with the currency chosen by the seller, then they have the option to make an offer in a preferred currency (Euro, US Dollar or Sterling). The sales price chosen by the seller will then be automatically calculated according to the latest conversion rates and displayed in the buyers account in their chosen currency.

During the negotiation process the buyer and seller can make offers in their preferred currency. Should either party make an offer in the currency of the opposing side, then it will no longer be possible to change the currency for further bids.

Once an agreement has been reached, the currency of the last bid made is written into the sales contract. Irrespective of the contractual currency, payment documentation for customers located within the EU will be in Euros (with the exception of the United Kingdom where Sterling GBP will apply). The currency conversion will take place according to the official conversion rate on the date of agreement.

.

 

[rome2ng]

thks for the info.

i will try it out.

but it depend muchly on the conversion rate offer by sedo. hmm

 

[wot]

Check your conversion rates at somwhere like xe.com.

 

[Xombie]

Thanks a bunch for the heads up eh. Will check it out. Still only three currencies though.