Sedo's Marketplace Auctions is a trap?

[kaziolas]

So I submited my domain to Marketplace Auctions on sedo's website. I received like 2,700+ views on the auction page and 1 bid for £400 for that domain like 7h before the finish of that auction (that was my last time I checked as I went to sleep).
So the auction supposed to finish at 10am CET and I get an email at 9.13am CET stating:

We regret to inform you that we have been forced to cancel the current highest offer made on the domain xxxx.
Following a routine customer check, the buyer’s Sedo account has been suspended due to a breach of our terms and conditions. In this case, the offending party was the highest and only bidder on the domain and as a consequence we have been forced to cancel the auction.
Please note that we make such security checks to protect our clients from fraudulent activity in order to ensure a safe and secure domain marketplace.

I understand what happened but why would you cancel my domains auction 1h before it supposed to finish!? Please tell me that someone had this issue as well and has a proper explanation, because I had a good chance of getting another bids that last 1h when it would outbid the first (fake) bidder...

 

[juanda]

I personally have never had any problems when I put a domain auction in Sedo,.
and I have many years doing it...

It could be that Sedo has seen than the possible buyer was not trusted, or may be is new member or never has made any transaction before with sedo.....

 

[kaziolas]

Yeah but that doesn't allow them to cancel my auction 1h before it actually finishes.. I emailed them, of course there was no response..I contacted them via live chat, and the person said that she will pass it on for a security department as it was a security error and they should add my domain again, but of course, once again, no information from them even when she said I will be contacted asap..
It just shows you how well established business loses their customers because of that kind of nonsense..

 

[D Haynes]

It seems Sedo has more fake bidders than real ones from my experience with them. When I lost days from a paid auction due to a fake bidder I emailed them and complained and they re listed the name. Just a shame it took me prompting them and not them doing it off their own back.

 

[kaziolas]

Thats true, as their support is just awful, times aspecially..I wish they could be as good as godaddy