NameSilo

Non paying Buyers on Sedo...

Located in Domain Marketplace Reviews started by domainhacks, Dec 29, 2014.

Replies:
32
Views:
2,652

  1. domainhacks

    domainhacks Established Member

    Posts:
    351
    Likes Received:
    122
    Are they common? A guy bought a domain from me and keeps ignoring Sedo's payment requests.

    Why did he commit to buy and then go MIA?

    And the domain is not able to be listed because it has been "sold"

    Have you experienced them? Are they a common place there?
     
    The views expressed on this page by users and staff are their own, not those of NamePros.
  2. discobull

    discobull Top Member VIP

    Posts:
    1,135
    Likes Received:
    2,019
    Buyer's remorse. It happens. As I recall, Sedo gives the buyer up to 5 business days to pay. After that, you can request that the transaction be cancelled so that your domain can be relisted. Once Sedo cancels it, they will provide you with the buyer's contact info so that you can contact him directly and try to close the deal. As per their TOS, if you do complete the sale directly, you don't owe Sedo a commission ( it's up to them to collect it from the buyer themselves if they're so inclined. ).

    I had that happen to me once. The sale price I got from the buyer on Sedo was $1400, but after he defaulted I eventually got the guy to buy it from me direct for exactly $1k. Good luck with it.
     
  3. cloudguy

    cloudguy Established Member

    Posts:
    131
    Likes Received:
    97
    Maybe it's the same case happened to me when Sedo asked the buyer to pay through Alipay.com, page written on chinese or japanese.
     
  4. FPForum

    FPForum Top Member VIP ★★★★★★★★★★

    Posts:
    5,571
    Likes Received:
    1,503
    I wouldn't really say it's common. However, anyone who sells a decent number of domains will have it happen to them at least once. Whether you buy and sell cars, houses, or domains...It's never a real deal until the money has been sent and the item has been moved :)
     
  5. forge

    forge hoop dee do VIP

    Posts:
    4,232
    Likes Received:
    7,906
    What's Sedo?

    Seriously, I've almost forgotten they exist. I have several domains with them still, but I don't care. Sedo are has beens. They do nothing for sellers and never did. They had their heyday in parking but that's ancient history. GoDaddy Auctions is where the action is anyway.
     
  6. domainhacks

    domainhacks Established Member

    Posts:
    351
    Likes Received:
    122
    The guy still hasn't paid for the domain.

    Sedo told me that he has been using his Sedo account ....

    I'm almost positive he has bid on a variation of my domain on Flippa at 1/10th of the price (but a terrible misspelled variation)

    Really disappointed with Sedo. They sent me a message saying congrats on your sale! And proceeded to do lead me on.

    How they continue to let this buyer the ability to use his Sedo account without penalty is beyond me.
     
  7. FPForum

    FPForum Top Member VIP ★★★★★★★★★★

    Posts:
    5,571
    Likes Received:
    1,503
    If the buyer doesn't end up paying then Sedo will release their information to you. That's what has happened with me in the past. Then, if you want, you have the legal right to pursue further actions against them. To be honest, that's about all Sedo can do about it. They can't go put a gun to his head and make him pay, lol.
     
  8. mhdoc

    mhdoc Top Member VIP ★★★★★★★★★★

    Posts:
    2,147
    Likes Received:
    641
    As somewhat of an outsider, who has never played in that market, it looks like a low cost way to tie up a name while you look for a buyer
     
  9. discobull

    discobull Top Member VIP

    Posts:
    1,135
    Likes Received:
    2,019
    I think you're onto something. We should start a new marketplace that promises that non-payers will be hunted down and shot. :)
     
  10. domainhacks

    domainhacks Established Member

    Posts:
    351
    Likes Received:
    122
    Well, what they should do is pre-charge a credit card the transaction amount. So the buyer is committed to buying it.

    Giving me their info doesn't do much. I can't take legal action because they are in a different country and it's not worth the cost or time.

    Making the buyer commit with words is meaningless. Making the buyer commit with their pocket is what they should do.
     
  11. FPForum

    FPForum Top Member VIP ★★★★★★★★★★

    Posts:
    5,571
    Likes Received:
    1,503
    @discobull LOL :roll:

    @domainhacks You know...Something along those lines might not be that bad of an idea. Flippa for example, makes you add a credit card before making any bids above $200 or $250 (can't remember)...This would at least put some kind of pressure on the buyer. I know Sedo has some kind of approval process, but I think it's only for big priced domains over like 10k.

    From what I can tell in my experience, Sedo has always paid more attention to the bigger sales. If your domain is selling for 3 or 4 figures then it's not a big priority to them. That's something I've always thought they needed to change. At least that's what my experience has seamed like.
     
  12. Russkie

    Russkie Established Member

    Posts:
    293
    Likes Received:
    114
    Realistically, how to take a legal action from the UK, when a non paying 'buyer' lives across the ocean?
     
  13. vivaldi

    vivaldi Nothing personal VIP

    Posts:
    1,872
    Likes Received:
    1,615
    Or could they? :whistle:
     
  14. SpareDomains

    SpareDomains Jay VIP ★★★★★★★★★★

    Posts:
    3,462
    Likes Received:
    2,434
    I've got a good handful of non payers but that's over many years as I started selling in 2003. Most of those non payers in my list are years old as since GoDaddy bought Afternic and booted Sedo from their network the majority of third party marketplace offers I receive are from GoDaddy/Afternic now and Sedo are kinda dead.

    GoDaddy is the the largest used end user Registrar by a long shot so GoDaddy booting Sedo, DomainNameSales, etc... definitely slowed their leads down as having GoDaddy promotion can trump 100+ smaller partners. GoDaddy/Afternic is the third party market that trumps anyone else in leads that come my way.

    Most of my sales are direct as my domains point to my own sales pages. I prefer this as I can do everything immediately, negotiation response, escrow invoice to pay, domain pushed so deals are wrapped complete with money in the bank within a couple days. Third party markets way slower to respond, closed weekends, etc... so plenty of time for second thoughts. Closure rate much higher when you can jump on everything from negotiation to payment invoice and are open 24/7.
     
  15. Acroplex

    Acroplex Top Member DomainGang.com PRO VIP ★★★★★★★★★★

    Posts:
    3,991
    Likes Received:
    1,728
    Seeing how this thread gets new posts once a year, I'd say they aren't common. :-D

    On a serious note, report all NPBs to Sedo so that they clean up their marketplace. Banning repeat offenders benefits the community.
     
  16. Russkie

    Russkie Established Member

    Posts:
    293
    Likes Received:
    114
    No real need to report, as they also do owe money to Sedo :)
     
  17. imadoer

    imadoer Top Member PRO VIP

    Posts:
    4,915
    Likes Received:
    4,955
    Non paying buyers are everywhere not just sedo. Not all people go through with the thier purchases or agreements. Theres not much you can do about it. My last 3 deals in escrow the buyers backed out. What can you do. Not much
     
  18. Russkie

    Russkie Established Member

    Posts:
    293
    Likes Received:
    114
    Is there any realistic chance to sue such a buyer?
     
  19. E-Promote

    E-Promote Top Member VIP ★★★★★★★★★★

    Posts:
    967
    Likes Received:
    1,047
    I'm digging the @discobull approach. Hasn't happened to me at sedo, but if it did I would use the contact info sedo gave me (request it asap after time limit) contact the seller and offer them the domain for the full price including sedo comish (w/o commenting on the sedo default). If buyer does not respond offer the domain to them w/o sedo comish and w/a deadline to lock in lower price. If buyer buys w/ comish then you made more, if they buy w/o comish you make same and if they don't buy you are simply back where you started. You can still report them to sedo and everything else you may have wanted to do before.
     
    Last edited: May 28, 2017
  20. Russkie

    Russkie Established Member

    Posts:
    293
    Likes Received:
    114
    Nope. It will not work like this, Sedo will demand its commission, I cannot offer the domain without it. That's what I got: "The suspension of the transfer does not affect the Purchase & Sales Agreement between you as the seller and the buyer. In case you agree with the buyer to continue the transaction, Sedo may proceed with the transfer". It means Sedo does consider its further involvement
     
  21. Russkie

    Russkie Established Member

    Posts:
    293
    Likes Received:
    114
    Again, why shall I approach the buyer, if Sedo already did so (in three to four occasions, not certain, but before cancelling the transfer)? S/he did not reply. Time wasting. I doubt, I legally obliged contacting him before proceeding with an action.
     
  22. E-Promote

    E-Promote Top Member VIP ★★★★★★★★★★

    Posts:
    967
    Likes Received:
    1,047
    I was assuming sedo provided buyers email addy etc...true?
     
  23. Russkie

    Russkie Established Member

    Posts:
    293
    Likes Received:
    114
    sedo provided all personal data which i might need
     
  24. E-Promote

    E-Promote Top Member VIP ★★★★★★★★★★

    Posts:
    967
    Likes Received:
    1,047
    Then I would do what I outlined in my last post.
     
  25. Russkie

    Russkie Established Member

    Posts:
    293
    Likes Received:
    114
    the buyer was contacted by sedo several times and this person did not reply.
    why shall i continue contacting him? i am not obliged.
    (and i do not have illusions about his intention to buy, all what i want is to affect his credit score, he is already a debtor, i would like to formalise the situation, that's it)
     
    Last edited: May 28, 2017

Want to reply or ask your own question?

It only takes a minute to sign up – and it's free!
NameWorth
  1. NamePros uses cookies and similar technologies. By using this site, you are agreeing to our privacy policy, terms, and use of cookies.
    Dismiss Notice
Loading...