So many bids! Why no sales?

[binaryman]

As a bit of a newcomer I have noticed that on the SEDO domains for sale listings if you search for a particular category and select the order of the names to be shown by "BIDS" you then get to see a lot of domains many of them with 3,4,5, even up to 56 bids. What then perplexes me is that some of these domains have a very low asking price like $300-$500 but yet they are not sold but have so many bidoffers. It does,nt make sense to me. I saw one just now that is for sale at $250. There are 23 bids made. So why has the owner not accepted the best bid? I mean he is asking $250 surely at least a few of those 23 bids must be close to the amount he wants? Can somebody explain this to me.
Regards
Binary

 

[cache]

they must all be low ball bids.

 

[Monolith]

Often people will list domains at values far below what they want for them just to get bids. It helps them get a sense of the value/demand for the name, and it also makes their name look more valuable when there are a lot of people bidding on it.

Also, sedo doesnt let you list names at more than $10,000 without an appraisal, so you'll often see domains listed at that price or less with a lot of bids, but the owner just doesnt want to pay sedo $30 for the appraisal.

 

[binaryman]

These domains I am talking about are not even close to a top domain. These are domains being put up for sale at $100. Surely that is not going to give you an idea of what your site is worth??
I,m missing something here. I was looking at the $300 bargains and what I find strange is that many of those low-priced domains have plenty of bids but they are still for sale. ???? In one particular case there is a domain advertised for $100. There are 24 bids for this domain yet it is not sold. How can this be??? Surely one of those bids must be close to $100 and the site should be sold. I mean if I have a domain for sale at $100 and I get 24 bids I imagine some of those bids must be close to $100 and I am not going to hold out for excactly $100. I,ll sell for 95 or whatever. I just dont get it. Surely someone would have offered the $100 after 24 unsuccesful bids? So many bids surely indicate that there is a lot of interest for the name and surely after 24 bids someone would have offered the $100? For such a cheapy I find it hard to understand why it is still being bidded for. Also as Sedo rules state
"You could also choose to use the Fixed Price option, but please be aware that you are obliged to sell at this price if a potential buyer agrees to buy – there is no further negotiation."
So please can someone explain to me how this can be??? There are many more cases like this and in higher price catagories to. I can still understand this happening in the higher price classes but not in the cheapie bargain bins.
Regards
BinaryBill

 

[TestCase]

I'm not sure about all the ins and outs of bidding at SEDO but maybe the bids haven't even come close to the asking price. Since all communications have to pass through the Sedo system so they can track (and get their cut...) maybe each email sent to the seller, whether an actual bid or just a question, registers as a bid. (Just an idea... As I said earlier, I have know idea how things work there.)

Wish they would list the bid amounts.

I remember watching a domain listed at $2 million (attorney.com I think) for several months. I swear it got to the point that the number of bids didn't change for at least a month. But I moved my domains to another parking service and stopped watching it. Went back the other day and took a look and saw it was no longer listed. I'd love to know how much it finally went for....

 

[Monolith]

These domains I am talking about are not even close to a top domain. These are domains being put up for sale at $100. Surely that is not going to give you an idea of what your site is worth??
I,m missing something here. I was looking at the $300 bargains and what I find strange is that many of those low-priced domains have plenty of bids but they are still for sale. ???? In one particular case there is a domain advertised for $100. There are 24 bids for this domain yet it is not sold. How can this be??? Surely one of those bids must be close to $100 and the site should be sold. I mean if I have a domain for sale at $100 and I get 24 bids I imagine some of those bids must be close to $100 and I am not going to hold out for excactly $100. I,ll sell for 95 or whatever. I just dont get it. Surely someone would have offered the $100 after 24 unsuccesful bids? So many bids surely indicate that there is a lot of interest for the name and surely after 24 bids someone would have offered the $100? For such a cheapy I find it hard to understand why it is still being bidded for. Also as Sedo rules state
"You could also choose to use the Fixed Price option, but please be aware that you are obliged to sell at this price if a potential buyer agrees to buy – there is no further negotiation."
So please can someone explain to me how this can be??? There are many more cases like this and in higher price catagories to. I can still understand this happening in the higher price classes but not in the cheapie bargain bins.
Regards
BinaryBill

Just because someone bids $100 for a site with an asking price of $100 doesnt mean it automatically sells.

My point is that people often put really low "prices" on their domains just to attract bids.

 

[fonzie_007]

So even if someone meets the asking price, the seller doesn't have to sell? That seems weird to me... I would think the seller has an obligation to sell if the buyer has offered what the seller is asking for.

 

[Monolith]

Seller still has to agree to the transaction. Dont shoot the messenger.

 

[fonzie_007]

Seller still has to agree to the transaction. Dont shoot the messenger.

Not trying to shoot you at all... This is actually very helpful information to know. Thanks.

Rep added.