SEDO " Asking Price "

[Charley]

I need a little confirmation on this. Suppose I enter $ 500 as the asking price :-

1. Can the bid start from $ 60 or any higher than it ?

2. Would $ 500 be the reserve price ?

3. What happens if the highest bid closes on $ 450, is there a sale ?

4. What happens if the minimum price is set at $ 250 and asking price $ 500 ?

Thanks for looking into this thread.

 

[Kate]

The asking price is just your price expectation as a guide to the potential seller.
It is not binding.
You can also set a minimum offer amount to filter out low bids.
Another possibility is setting a fixed price, then no negociation is possible. The buyer can only purchase at that price and you must honor the price.

You are always free to refuse an offer even if it is above your initial asking price UNLESS
- the buyer accepts your counter-offer OR
- you have set a fixed price

 

[Lasher]

Just a word of caution here, if you also list names at Afternic and set an asking price, that IS binding.

 

[Charley]

Does this mean buyers can start bidding from $ 60 till any amount higher than the asking price ?

The asking price is just your price expectation as a guide to the potential seller.

 

[gazzip]

I'm not sure if you mean just listing a domain for sale or selling in auction but maybe some of this will help ?

Off sedo's website

Normal listing a domain at sedo for sale

In order to provide you with maximum flexibility when negotiating your sales, we offer various pricing options which you can assign to each of your domains. The options are as follows:

Minimum offer: Once you have entered a minimum offer, any offers below that amount are automatically rejected by the system. In this case, interested parties are encouraged to make another, higher bid.

Asking Price: The price you enter is used as a basis for negotiation. You are not obliged to sell at this price. If you do not enter a price, your domain will be listed as 'Make Offer'. All offers received are passed on to you by email.

Fixed Price: Offers are only accepted if they match your exact price. You are however legally obliged to accept this offer! Should you decide to set a fixed price, please enter the fixed price in the ‘Asking Price’ field and type the letters ‘FP’ in the ‘Minimum Offer’ field.

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What is the difference between Marketplace Auctions and Brokerage Auctions?

In Marketplace Auctions the reserve has already been met at the start of the auction, while in Brokerage Auctions the reserve has not been met when the auction starts.

A Marketplace Auction is an auction that is initiated by the seller once he has received an offer through Sedo’s traditional marketplace, and this offer will serve as the reserve price for the auction. Since you already have a committed offer at the reserve price, your auction listing is guaranteed to end in a sale!

Sedo offers an auction program for premium domains where the domain owner will work in coordination with a Sedo broker to determine the reserve and start and auction for the domain. For brokerage auctions the reserve is not met from the start of the auction and a sale is only guaranteed if the reserve is met through the auction. The reserve is not listed on the auction page until it has been met.

...........................................

Hope this explains some of it for you


.

 

[Kate]

OK, I am going to answer your questions 1 by 1, may be clearer for you

I need a little confirmation on this. Suppose I enter $ 500 as the asking price :-

1. Can the bid start from $ 60 or any higher than it ?

The minimum bid amount at Sedo is $60, or your minimum offer price if you have set one - whichever is greatest

2. Would $ 500 be the reserve price ?

No, your asking price is not binding. But the buyer can reasonably expect that if you ask $500 and they offer $500, you will accept the offer...
I hate people who set a low asking price like $1000, then I offer $1000 and they counter-offer with $5000 :yell:

3. What happens if the highest bid closes on $ 450, is there a sale ?

It's up to you to decide if the best offer is close enough to your expectations
But if you set a fixed price and the buyer agrees - then you must sell.
If you counter-offer and the buyer agrees - then again you must sell at the price you stated.

4. What happens if the minimum price is set at $ 250 and asking price $ 500 ?

It just means a potential buyer must offer at least $250 as a starting bid. Then you negociate to bring the price higher. It may be a good idea to set your asking price a bit above your desired price so as to leave room for negociation, but not too high so as not discourage potential buyers.

 

[Sedo]

Hi,

Thanks for the explanations sdsinc, you did a great job.

With Sedo there are a few options for setting a sales price.
Make an Offer – The seller posts a suggested sale price and is open to accepting all offers. (if there is a minimum offer set (see below) offers below the minimum price will not be accepted)
Fixed Price – The seller has set a fixed sale price and will only sell when that sale price is submitted.
Minimum Offer – The lowest offer at which the seller will begin sale negotiations.

With Sedo’s offer/counter-offer system the seller negotiates individually with each prospective buyer. The seller may send a domain to auction only after receiving an offer.

There are a few ways to complete a sale.
1. Buyer accepts seller’s most recent offer
2. Seller accepts buyer’s most recent offer
3. Seller accepts buyer’s most recent offer as the reserve price of the auction and the domain is sent to auction. After a maximum of 7 days the auction closes and the domain goes to the highest bidder.


The questions:

When the seller sets $500 as the ‘make offer’ price, but does not set a minimum offer all offers from $60 and above will be relayed to the seller.

The make offer price of $500 is a suggested sale price helping the buyer know what price the seller has in mind. When the seller sets the price at $500 make offer, the seller is not obligated to accept a $500 or higher offer, but of course without good reason it’s not wise to substantially increase your offer within a bid thread as the buyer may get discouraged and cancel negotiations.

As sdsinc mentioned, within the bid thread between seller and buyer, a binding sales agreement is reached when the buyer accepts the seller’s most recent offer, even if it’s lower than the seller’s suggested make offer price.

It is not possible to set a reserve price with Sedo’s offer/counter-offer system. With Sedo auctions the reserve price is determined by the offer that prompted the auction (see www.sedoauctions.com for more info)

In the offer/counter-offer process if the minimum price is $250, then all offers below $250 will be rejected. Any offer above that will be relayed to the seller. Meeting the minimum offer price does finalize a sale.

I hope this cleared up some confusion. Please let me know if you have any specific questions.

Best,
Mara
[email protected]

 

[Charley]

Thanks for the reply. REPS added.

I hope this cleared up some confusion. Please let me know if you have any specific questions.

 

[markfromslo]

I cannot get the "FP" to stick in the min bid field when I key it in there, along with a price in the asking price field. This is the way Sedo says to do it. I usually not surprised when something doesn't work in Sedo, but this should be something that works.

When I click the "Execute" Save Marked Changes button, the FP disappears.