NameSilo

Question regarding Sedo offer & counter offer

Located in Domain Marketplace Reviews, started by belmar313, Oct 14, 2019

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  1. belmar313

    belmar313 Established Member

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    Hi, I have a question.
    Sedo has been changing some terms, such as their min commission, fees, etc.
    I would like to know something: I'm not a huge fan of the idea of sending to auction, but I need to be sure how it works now. If I receive an offer on one of my domains, do I need to counter in order to send to auction? Or can it just be sent to auction with that first offer?

    Thanks.-
     
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  2. equity78

    equity78 Top Member TheDomains Staff TLDInvestors.com PRO VIP ★★★★★★★★★★

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    Just send to auction do not counter offer.
     
  3. moe

    moe Established VIP

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    In my experience don't send it to auction, potential buyer would feel a little "insult" and if no other bidders he'd feel the name is not good enough and most likely will not complete the purchase, just counter offer with realistic amount.
     
  4. equity78

    equity78 Top Member TheDomains Staff TLDInvestors.com PRO VIP ★★★★★★★★★★

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    Yes a lot don't like it, but it is a binding offer and Sedo will ban you from the site if you don't follow through with payment, per Sedo.
     
  5. belmar313

    belmar313 Established Member

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    I've read that in many cases buyer gets upset with domain being sent to auction and ends up not paying. I assume they will be banned, but apparently is pretty common behavior from buyers when a domain is sent to auction and doesn't receive any more bids.
     
  6. equity78

    equity78 Top Member TheDomains Staff TLDInvestors.com PRO VIP ★★★★★★★★★★

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    True, you have to decide is it a name that if a bunch of people saw at auction they might bid? Like a 4L.com or pronounceable 5L.com. Now if it was a new gtld or cctld I would just counter not send to auction.
     
  7. Sedo

    Sedo VIP Member Sedo Staff VIP ★★★★★★★★★★

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    Hi Belmar,

    Thanks for your comment.

    When you receive an offer on your domains you can either accept the offer, submit a counter offer to the buyer or start a marketplace auction using that offer as the reserve price. You can not counter offer and then start an auction after you have counter offered, it is either or.

    You can counter offer or start an auction in your sellers account as so:

    1. Login to your account

    2. Go to My Sedo > My Domains

    3. Click on the domain name

    4. Click 'Offers Received

    5. Select the domain Counter Offer / Start and Auction


    The process of how you would begin a Marketplace Auction is:

    1) You list your domain for sale in your Sedo account.

    2) You receive an offer through the standard Sedo marketplace from an interested buyer.

    3) Accept the offer as the starting bid and reserve price for your auction within the first 5 days of the 7-day binding offer period.

    4) Wait to receive additional bids during the remaining time of the auction. Since you already have a committed buyer at the reserve price, your auction listing is guaranteed to end in a sale, even if no other bids are made.

    It may be the case that by starting the auction the buyer may not be totally happy about it. But this option is explained in the terms /policy to the buyer which they have to agree to before making the offer.

    If you need any further help then please email [email protected] directly from the email registered on your Sedo account with the domain in question so we can help you further.

    All the best

    Chris
     

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