Sedo News: New Member Certification for Premium Auction Events

[Sameh]

May 21, 2008

Sedo Recently Introduced a New Member Certification for Premium Auction Events!

In order to maintain a secure auction environment, Sedo has introduced new member certification levels for placing bids on Premium Auction Events hosted on Sedo and GreatDomains. All buyers bidding above 10,000 USD/EUR/GBP must complete the Premium Certification and all bidders placing bids above 100,000 USD/EUR/GBP must complete the Premium Plus Certification.

Excellent Move :tu:

No more shill bidding over $10,000

 

[Steven]

Great news
Sedo is now definitely stepping up to protect the sellers.

 

[Cronus]

I'm not too happy about the requirement that you keep a $1,000 deposit with Sedo earning no interest to be able to bid $100K+. If they are going to require the deposit, it should be applied to the first $100K+ domain you win, and then you should not have to keep a deposit there any longer since you have already proven yourself. The form already requires bank account numbers and credit card numbers, plus ID and bank statement or utility bill.

Similarly, I wish they would grandfather those of us who have already completed $10K+ transactions and not make us jump through all these new hoops.

Also, they say I need to provide "National Photo ID (i.e. Passport)". Does this mean they won't take my California drivers' license?

I'd also like to know when this becomes effective Are these rules in effect for the May GreatDomains auction which starts tomorrow?

I understand the value in requiring certification (and I've filled out similar forms for NameJet, Club Drop, etc. So I'm not complaining about the change. But I do wish they would at least address these points.

 

[weblord]

it's an excellent move for them

 

[wot]

Didn't take long did it Finally

Shill bidding under $10,000 still acceptable :?


BTW -What happened to Pizza.com :?

 

[-REECE-]

Sweet, this was my suggestion :tu:

I don't think many people with 100k+ to spend on domains are going to mind leaving 1k as a deposit -- that's chump change to me and even more chump change to most of the guys regularly placing bids at that level.

This is an excellent step in the right direction imho.

I'm not too happy about the requirement that you keep a $1,000 deposit with Sedo earning no interest to be able to bid $100K+. If they are going to require the deposit, it should be applied to the first $100K+ domain you win, and then you should not have to keep a deposit there any longer since you have already proven yourself. The form already requires bank account numbers and credit card numbers, plus ID and bank statement or utility bill.

Similarly, I wish they would grandfather those of us who have already completed $10K+ transactions and not make us jump through all these new hoops.

Also, they say I need to provide "National Photo ID (i.e. Passport)". Does this mean they won't take my California drivers' license?

I'd also like to know when this becomes effective Are these rules in effect for the May GreatDomains auction which starts tomorrow?

I understand the value in requiring certification (and I've filled out similar forms for NameJet, Club Drop, etc. So I'm not complaining about the change. But I do wish they would at least address these points.

 

[Ziggery.com]

About time Sedo woke up and smelt the domain shill bid coffee!

 

[wikes82]

it's about time... but it's still too high though..
under $10k shill bidding still possible..

 

[-REECE-]

I'm aware of many LLLL.coms "sales" on Sedo being shills.

Still, this is a great first and most important step -- the 10k+ range is where the large majority of Sedo's profits are made, so it only makes sense to start here. Hopefully there will be some safety implementations put into place for domains under 10k in the future.

it's about time... but it's still too high though..
under $10k shill bidding still possible..

 

[cbsort]

Great news !
Bad News to spam!

 

[dotnom]

I agree that is a very good for the quality of bids BUT it's bad timing for me

My QWA.com enters a premium auction today (22nd) and i don't know how many sedo users are already certified according to the new rules to bid at this auction

 

[-REECE-]

edit - didn't realize the limits were just in place for premium auctions