SEDO Auctions

[Pound]

So I had a very low offer and I then counter-offered with a much higher value, if they accept this offer can I still take it to auction or is it only if I, the seller, accept the offer?

Thanks.

 

[yoyosean]

if they accept your higher offer it is binding

 

[NameClerk]

I have read where others sellers have counter offered and then sent the domain to auction.

I believe the answer to your question is yes, you can still send it to auction.

-Bill

 

[IAmAllanShore]

I hope Mara can comment, but I sure hope not...

If the seller makes an offer and it is accepted, that should be the end of it...

-Allan

 

[circa1850]

If you get an offer, and you make a counter offer, and the offer is accepted, you can still take it to auction.

This is where you can maximize your revenue.

Here is the key; once you do accept the offer and you take it to auction and there are no more bids, you have committed to selling the domain at the accepted price.

I have personally sold a few at auction on sedo.

Here are some other strategies.

Price your domain names reasonably on sedo to generate some offers.

Once you get an offer, you can negotiate back and forth all you want.

Once you accept an offer, you can take it to auction. The prospective buyer may not be too thrilled as now his offer has become cause for taking the domain name to auction.

This is where you have an opportunity to get much more for your domain name than you had originally planned. The domain name is now on auction where it receives a great deal of exposure. If you monitor the domain name you will see a big spike in visits and hits on that domain name.

If however you do not receive any more bids, you are committed to sell the domain for the original offer that you accepted.

So be sure when you accept an offer you are okay with that offer in case you do not receive any more bids.

Going to auction can definitely work in your favor. This is how TRACTORS.COM brought $143,500.00 instead of $35,000.00. Good for the seller, not so good for the person who thought he/she had snagged it for much cheaper.

 

[Pound]

So if I have received an offer of $90 for a 3 character .com - I would definitely not want to sell it at this price, if I then counter at $150 or so and they accept, can it be taken to auction?

Thanks circa1850, rep +

If you get an offer, and you make a counter offer, and the offer is accepted, you can still take it to auction.

Have you actually experienced this before?

 

[circa1850]

So if I have received an offer of $90 for a 3 character .com - I would definitely not want to sell it at this price, if I then counter at $150 or so and they accept, can it be taken to auction? Thanks circa1850, rep +
Have you actually experienced this before?

Yes and thank you, and yes.

You can take the offer now (at $90) and take it to auction. A three character dot com should bring more than $90. But if you accept the offer and take it to auction and by chance it does not get any more bids, you are committed to selling at $90.

If you counteroffer at $150 and the counter offer is not taken, you lost your chance to take it to auction. But, if the counter offer is accepted, you can STILL take it to auction.

Unless you work with a Sedo Broker and they broker your domain name by putting it on auction, the only way you can put a domain on auction is IF the domain name receives an offer and the offer is accepted.

This new method of auctioning creates a whole new strategy for the seller in pricing domain aggressively in order to get offers. Once the domain name is on auction, the exposure and hits on that domain name are incredible...about 4 times the normal visitors to that domain.

Sedo has about 6 million domains under their control so anything to put one of your domain names in the limelight is definitely advantageous.

An auction format like this is a seller's best friend...its more or less a win/win scenario. It will sell...either at the accepted offer or for more. For me, the strategy is to price domain names at a reasonable starting point. If the offer comes in, a little negotiating takes place. I reach a point where I say to myself, "I can live with that" and accept the offer. Then I take it to auction. The worst case scenario for you, the seller, is you sell the domain for what you can live with. How's that for a worst case scenario!

As a buyer, I am not too sure I like it. As a matter of fact, as a buyer, I definitely don't like it. I find a gem, I make an offer, you accept the offer, I think we have a deal and all of a sudden, I've got competition for our agreed upon price. I tend to believe that this is not a too well known process at the moment as it was just launched a few months ago. And it may backfire in some cases.

I would be concerned about driving serious buyers off once they find out that their offer is nothing more than bait. Look at it this way; you were the one who made the offer of $35,000.00 for TRACTORS.COM. The offer was accepted. You think you have a deal only to find out that the domain is now being auctioned off and the domain name is thrust in front of millions of viewers. The exposure and publicity runs the final price up to $143,500.00.

Who do you think is the happier of the two...the seller or the person who thought they had a deal for $35,000.00?

 

[sld7]

If the seller counter offers and the buyer decides to purchase at that price how can it be taken to auction?

1) That's unethical.

2) It destroys the whole auction process. Why would any buyer feel comfortable in bidding.

Something is not right....

 

[danmanmktng]

I have learned the hard way that if you accept the buyer's bid, then you can send to auction -- if the buyer takes your offer, then you cant.

 

[Pound]

Well I'm hoping circa1850 is right and you two are wrong because I have just coutered with a low amount in the hope that it is then taken to auction!

I'll see what happens...

 

[circa1850]

If the seller counter offers and the buyer decides to purchase at that price how can it be taken to auction?

1) That's unethical.

2) It destroys the whole auction process. Why would any buyer feel comfortable in bidding.

Something is not right....

I agree, it does not seem ethical...especially from the buyer's standpoint. But that is how Sedo is currently doing it. So is it unethical? Not from the seller's and Sedo's standpoint. They both will gain.

That is also whay I say I think this may come back and bite Sedo in the ass as the serious buyers begin to realize that their serious offer is nothing more than bait.

So, for now, as a seller...take advantage of this to maximize your revenue.

As a buyer, stay away. Because that gem in the rough you think found? Ain't gonna look too rough when it is featured in their auctions and thrust in front of millions of perspective buyers.

I have learned the hard way that if you accept the buyer's bid, then you can send to auction -- if the buyer takes your offer, then you cant.

Not so. I have thus far sold three domains on sedo auction since they implemented their new auction structure.

Sedo's control panel is a little confusing. If you get an offer or accept a counter offer and you want to take it to auction, drop all the way down and click on TAKE IT TO AUCTION. If you do click on ACCEPT THE OFFER then you have concluded the transaction. I am sorry, I do not remember all the exact verbage on their buttons but hopefully you get the idea. The point is to ignor all the other blocks and icons etc. and drop down to the bottom of the page and take it to auction.

This is how things worked about a week ago. Unless Sedo has gone in and drastically changed things...but I doubt it. If you sell it for more, Sedo makes more. It is not in their interest to change their format (at the moment).

Also, if you price a domain name rather than set a minimum offer;
If you price the domain name and someone buys that domain name at the price you set, you MUST SELL it at the set price.

So forget setting prices. Set minimum offers. Do this in a realistic manner. If you set it too low ($60.00) you will be bombarded with offers and you'll be going back and forth all day with offers and counter offers.

Most of my minimum offers are set at $100 for the "diamonds in the rough" domains. Naturally, the real gems are priced accordingly.

If you follow these instructions, this is how it is done. There have been several on this forum site that have done this and have been happy with the results.

And, again, I agree...from a buyer's standpoint this really sucks. Unethical? I am not sure about that. Look at what TDNAM is now doing. If a bid is placed in the last 2 minutes of an auction, it is extended an additional two minutes. No more sniping or attempting to snag something at the last second or two. I have seen their auctions go on for hours beyond the original ending time. Who benefits the most? The seller and TDNAM. In most cases, TDNAM is the seller.

...I have just coutered with a low amount in the hope that it is then taken to auction!

I'll see what happens...

Be sure you immediately go to TAKE IT TO AUCTION if the offer is accepted. Bypass all the other bull and icons and boxes.

I have sold three on auction even after counter offers and have instructed several to do the same on this forum and thus far everyone has been happy.

Make a counteroffer that is the absolute minimum you will take that you can live with...in case it does not get any bids. Again, if the counteroffer is accepted, ignor all the other buttons, boxes and icon and click something that reads like TAKE IT TO AUCTION.

You will still end up selling it for the accepted offer. That is why it is a win/win situation for the seller.

 

[TPSchaeffer]

Thx, this was an interesting post. There is another side of this great new auction at Sedo that is an avantage to buyers too! For example I put in Sweetdrinks.com with no reserve and no initial bid as the broker said he would then stick it in with no previous offers. I thought with new years and sweetdrinks the timming is right. ^_^. I received no bids until the last few minutes. Then I got 8 bids. It was a nail biter but very exciting. I made a few bucks out of the deal but certainly not what I had hoped. It sold for about 95% less than appraisal value but I am not complaining. It was fun. Now sweetdrink.com is in auction, but this time I placed an ad and the appraisal value in the profile. I also wrote to 30 to 40 places that sell sweetdrinks that I found on a google search. I still have no bids yet, but I am confident they will wait until the last minute again. It appraised at over $XXXX but I will be happy with a few hundred. ^_^. So bidders can get bargains too.