Sedo.com - Holding payments for longer - Company in trouble

[xbank]

Hello,

I notice recently sedo.com is having trouble and seems like they are holding payment for longer than usual, is the company having trouble with finance? or something else, guys please share your thoughts.

 

[Hootsifer]

No problems here on my end and this is even during the Pandemic.

 

[Haroon Basha]

Sedo is one of the best Payout companies. They do not keep your funds for a single day once your transaction is completed and the buyer got the name into his name. Casting doubt on Sedo is mischievous act.

 

[xbank]

Haroon, I have been doing domaining since 1999 and have seen things more than many youngsters and newbies doing in here, I hope seen companies did things in past as which they were not suppose to do.

I have seen companies doing and holding funds, in fact bigger companies than Sedo.

I have seen issue with one of my friend and still it's being delayed.

 

[Abdullah Abdullah]

Hello,

I notice recently sedo.com is having trouble and seems like they are holding payment for longer than usual, is the company having trouble with finance? or something else, guys please share your thoughts.

Did you try to contact them to know why your money is not released? How much are you talking about? @Sedo might be able to provide you some input too.

 

[TERADOMAIN]

Hi,

I sold a name for $XXXXXX and money got received in couple days. No issue at all.

Thanks

 

[clarkemarketing]

Last 3 payments I got from Sedo all seemed faster than usual

 

[xbank]

let's see how it goes another fella told me he got 6 days delay to let's see how it goes

 

[jim h]

In the past six months, the four domain names that I transacted on Sedo website have been cancelled by the buyers. I don't know why, there are more and more buyers who break contract.

 

[xbank]

Jim, same with my friend, you can share the info in private and I do the same too

 

[jim h]

Jim, same with my friend, you can share the info in private and I do the same too

shake hands

 

[platey]

I dont use sedo as i wont pay to list at auction well not sedo prices

But then again i very rarely sell domains and only buy hand reg

 

[xbank]

still issues with Sedo, another domainer sent me a news

 

[OliveOil]

Hello,

I notice recently sedo.com is having trouble and seems like they are holding payment for longer than usual, is the company having trouble with finance? or something else, guys please share your thoughts.

it's called Greed, not: "Trouble." so far, this year, they have 33+ top 100 domain name sales. NamePros can only account for (1) ... so, who's really in "Trouble"?

 

[xbank]

It seems you are absolutely right .. Sedo.com scamming and becoming greedy, I tell you something that I have figured out so far and I am going to do some more investigation on it before coming with a final verdict.

Sedo.com is holding a Threshold payment at their end, let say if daily 250k domain names sold and they are holding 250k in their bank account means if they delay for just 3 days (from the moment payment cleared in their account - and before it actually sent out to the seller) that gives them a high markup rate and also on the weekend too, so let's do some calculation here:

Minimum Figures:

250K USD x 3 days hold = 750K usd

they are always holding 750k minimum or even more than easily and they are earning quite a substantial amount of money as an Interest on that money which is kind of always at their end (excluding) the larger amount of sales.


I hope the people who think everything is simple and clean can understand what I mean here.


P.S I think we all as a domainer should do something to avoid this 3-4 days time frame when the domain is given to them the payment must be immediately release without any delay!

 

[Hootsifer]

Call them or email them and work out. Their reps seem pretty competent.

 

[xbank]

He did and they said they are going to do it fast, it's been more than 24 hours again and no response, I am following him carefully.

 

[Rhinnnn]

Minimum Figures:

250K USD x 3 days hold = 750K usd

they are always holding 750k minimum or even more than easily and they are earning quite a substantial amount of money as an Interest on that money which is kind of always at their end (excluding) the larger amount of sales.

I hope the people who think everything is simple and clean can understand what I mean here.

P.S I think we all as a domainer should do something to avoid this 3-4 days time frame when the domain is given to them the payment must be immediately release without any delay!

Let's assume your numbers are correct and they are getting $250K in sales daily. Saying "they are earning quite a substantial amount of money as an Interest" is ridiculous. At an interest rate of, say, 2% per year (I'm not sure where you can get that, but let's go with it), Sedo would win the enormous (not) sum of $13.69 per day. That probably doesn't even cover transfer fees.

I agree that payments could be processed more rapidly, regardless of marketplace. But if you say you've been "doing domaining since 1999" I'm surprised you don't know that, for example, Afternic processes payments in 8-10 days. Why not rant about Afternic too?

As you may have noticed, no one here thinks Sedo is in any trouble. Because there is no trouble.

 

[xbank]

Afternic receive payments from his partners and it's a whole different thing, the payment is processed by a third-party merchant and then it clears and go to another's account -- they use the cheapest method to save money and the transfer takes time.

I am talking about a direct payment when you made to Sedo.

My question is still the same .. regardless of any platform, once the name is sold the domainer must be paid quickly without strange delays and I truly stand for it.

 

[Jurgen Wolf]

As I know from Sedo...
If you have "For further credit" in your bank details - it will be processed manually once a week.
Autopayment (next business day after Credit Note) doesn't work in this case.

 

[Sedo]

Hi,

Just to clear this up and confirm, Sedo does not hold on to payments, as soon as the buyer confirms ownership of the domain and the transfer completes we release the money to the seller minus our commission. If you have sold a domain and not yet received the funds then its because the transfer is not completed. Please contact your transfer agent and they will let you know exactly whats happening with your transfer. Please communicate with your transfer agent directly through the Transfer Centre tool in your Sedo account:

1. Login to your Sedo account
2. Go to My Sedo > Transfer Centre
3. Click on the domain name
4. Click on the Transfer Status tab
5. Enter your message in the field "Your Comment" and click "Submit"

Or via phone +49 221 340 30-180.

All the best
Chris

 

[Soofi]

Sedo is one of the best Payout companies. They do not keep your funds for a single day once your transaction is completed and the buyer got the name into his name. Casting doubt on Sedo is mischievous act.

+

Their service & support is the best in the industry!

 

[xbank]

I hope they do exactly what they said!

 

[Igor Gabrielan]

I'm trying now, but Bidding History is broken there, and they cannot fix it.
Although the programmer must fix such an error in two minutes, they can no longer fix it in two days.