Sedo "Buyer Certification" program

[VisualArtistFrankBonilla]

10/26/06

I received an offer on a domain of mine on . I counteroffered on the same day.

10/30/06

Hadn't heard anything from the buyer. I lowered my counteroffer to match the original offer of the buyer.

Today 11/06/06
Still haven't heard a word from the buyer, or Sedo, even though my last counteroffer matched the original offer of the buyer.

I cancelled the transaction. So much for Sedo's "buyer certification" program. Doesn't look like it improved anything with the "deadbeat" buyers.

Frank

 

[tipsfromthetop]

Frank,

sorry to here you had a bad experience there my friend. I hope the buyer comes back to you again mate. Was it an indian domain? also was it on listed.co.in? if so let me know and i will make it a feautured listing due to your advertising in your sig for me. Lets hope i can give you more exposure.

your friend

Steve

 

[Kate]

I would not call him a deadbeat buyer.
Buyer made an initial, binding offer. You decided to ask for more.
Technically you submitted a new offer, thereby making the previous offer null and void (no longer binding).
Although it looks obvious buyer was not serious in the first place it seems to me that he did not violate the Sedo terms. Maybe he had second thoughts and was no longer willing to spend the initial amount of offer.

As a matter of strategy I would wait until the counter-offer expires (7 days) before making a new offer so as to keep the lead in negociations.
Don't be in a hurry. Don't be too flexible on price. Sometimes buyers are not very serious or motivated. There is little you can do.

 

[estibot.com]

I agree with sdsinc completely.

You blinked. The buyer has a huge advantage now. If I was the buyer, I'd come back with 50% of the original offer...

Keep the price tag reasonable, and, as sdsinc said, don't be too flexible. You might think you can collect a huge profit from a major company, but if your name isn't premium, you can't. That's how they became major companies, by making every dollar count.

Of course, if you've got a premium name, then keep the price high and just wait....

I just made a bid for a name I wanted. The negotiations are still ongoing, so I won't disclose the details yet. But I think the seller blinked and I've got the upper hand. I'll let you know how it goes.

Good luck with the name in the next sales negotiations!

 

[VisualArtistFrankBonilla]

Thanks

Thanks, guys, but I wasn't talking about "selling stragety". I was referring to the fact the a buyer made a bid, and disappeared. I thought the new "certification" was to help eliminate this. Even if I hadn't made a counteroffer, I really don't feel like I would have heard from this buyer.
I guess I just don't understand why someone would bid on a domain, if they are really sure they wanted it. We weren't talking about thousands here, the buyer bid $75.

Frank

 

[Kate]

The purpose of the so-called certification program is to avoid the registration of bogus accounts so that deadbeat buyers can be tracked down more easily by Sedo if they default.
Sedo is not going to help here because the initial offer is no longer binding. Buyer is free not to maintain the initial offer and did nothing wrong (aside from wasting your time) :gl:

 

[VisualArtistFrankBonilla]

ok

Ok, I agree with your on that.

Frank

 

[HcDomains]

There always have some Bad Dog.

It is a part of life, and your business.

Stop being anfry and Looking for next sale

 

[IAmAllanShore]

Frank,
I don't think that this is a knock against the "Buyer Certification" program, nor is it any evidence of a failure in any of their methods. (However, I acknowledge that the SMS cert is less than ideal on its face.)
In this case, there was an offer, and then when it was not accepted, they decided not to pursue it any further. If you had accepted their original offer and then nothing happened, that would be an issue. However, I have thought better of many bids on Sedo after I made them, and can just count my lucky stars when they aren't accepted. You have now lowered your original counter - if I was the buyer (I'm not), I'd continue to not respond and see how much lower you'll go. No reason to throw away money if I didn't have to.
Best to you,
-Allan :gl: