discuss Sold on Sedo for 300,000 EURO But Buyer Didn't Pay

[illumy]

I had a 300,000 EUR unpaid sale record on Sedo, which was cancelled 2 weeks ago on one of my premium .APP domains to US buyer, online Purchase and Sale Agreement seems like a joke on websites like GoDaddy or Sedo. Heard too many unpaid stories about how they failed to do anything concrete on unpaid buyers. Literally a waste of time and money in many occasion.

What do you guys think of this? Just move on?

 

[Oblivious Fella]

You can't say it is sold until you receive funds. Lolz

 

[illumy]

You can't say it is sold until you receive funds. Lolz

What do you think it should be titled then? Sedo's fake-sale lol?

 

[Oblivious Fella]

A bad joke

What do you say it should be titled then? Sedo fake-sold lol?

 

[eurorealtor]

Well, Sedo only gives the address of the buyer, all other details they aren't going to disclose it unless requested by legal/attorney.

Last time I had unpaid case on Sedo, they provided the full info of the Buyer, but it was a Great Domain Auction sale. Anyway, I never chase a ghost so I just moved on.

 

[Brands.International]

One thing we all should learn in domaining, and that will save lot of frustration:

you can consider anything sold only after money are confirmed to be in escrow ... never before.

The good thing is also that you still keep your domain name if it is not sold.. and who knows, it might sell for even more in future, if the quality of the name is good

 

[MapleDots]

For that type of money on an app extension I can understand the buyer getting cold feet.

This is what I see happening

Example: redhot.app

Buyer probably went this route: redhotapp.com (or similar)

Saved themselves 300,000 Euro

That's just me speculating but if someone was going to offer that much they are probably still looking for a similar name so it would not be too hard to track down new registrations.

Then if you have any luck with that contact them privately.

 

[MapleDots]

Which reminds me...... if you have an absolute premium .app it might be wise to protect buy the .com if it is still available.

ie: nameapp.com

I did just that

PhotogrApp.com & Photogr.app

 

[wwwweb]

ok you got over 500 views, let's see the name.

 

[illumy]

One thing we all should learn in domaining, and that will save lot of frustration:

you can consider anything sold only after money are confirmed to be in escrow ... never before.

The good thing is also that you still keep your domain name if it is not sold.. and who knows, it might sell for even more in future, if the quality of the name is good

Yea that's what I thought too, since I got many terminal acquirers making decent offers (as well as many non-terminal buyers with small budget), will see who really deserve it.

 

[jideofor]

There should be a small fee to show commitment to the deal, like 5-10% of the total sum paid via Paypal or something and then, they follow through...

Just an idea, not sure how feasible in the real world.

 

[illumy]

For that type of money on an app extension I can understand the buyer getting cold feet.

This is what I see happening

Example: redhot.app

Buyer probably went this route: redhotapp.com (or similar)

Saved themselves 300,000 Euro

That's just me speculating but if someone was going to offer that much they are probably still looking for a similar name so it would not be too hard to track down new registrations.

Then if you have any luck with that contact them privately.

Haha good thought, but not likely as it's not an unpopular word or creative words, in fact it's the most popular word-for-registration during Nov 2018 by report.

 

[Brands.International]

.

Yea that's what I thought too, since I got many terminal acquirers making decent offers (as well as many non-terminal buyers with small budget), will see who really deserve it.

Exactly. It is important to stay with good spirit As I can see, you have some of the best .app domain names, I am sure you will do very well.

Personally, I would not even post here the domain name in question, it is not your duty, no matter that some people are curious.

Move on, and focus on positive, they will bring you much joy and consequently, money.

 

[illumy]

Which reminds me...... if you have an absolute premium .app it might be wise to protect buy the .com if it is still available.

ie: nameapp.com

I did just that

PhotogrApp.com & Photogr.app

Unfortunately all of my premium .APP ones won't have ***app.com available.

 

[illumy]

ok you got over 500 views, let's see the name.

I should've asked for 2000+ views, this seems too easy lol.

Anyway the domain was TOKEN.APP, and there's a number of acquirers still negotiating about the offer, not in a hurry to sale, still have inbound inquiries near daily basis.

 

[illumy]

There should be a small fee to show commitment to the deal, like 5-10% of the total sum paid via Paypal or something and then, they follow through...

Just an idea, not sure how feasible in the real world.

That's exactly what they all need to do, but according to one of the Sedo staff I've spoken to, they can't do this pre-charge without a license to do so so unfortunately they are not allow to do so, either in Germany or in US. So is GoDaddy, which really sucks.

 

[wwwweb]

I should've asked for 2000+ views, this seems too easy lol.

Anyway the domain was TOKEN.APP, and there's a number of acquirers still negotiating about the offer, not in a hurry to sale, still have inbound inquiries near daily basis.

It's a popular term, we know tokens.com sold for $500K, and not sure what token.com sold for, but I think it is rich. The domain has value for sure, $100 renewal given this extension is manageable, you probably paid a lot in EAP to jump the que to own it though.

 

[illumy]

.

Exactly. It is important to stay with good spirit As I can see, you have some of the best .app domain names, I am sure you will do very well.

Personally, I would not even post here the domain name in question, it is not your duty, no matter that some people are curious.

Move on, and focus on positive, they will bring you much joy and consequently, money.

Thanks for the word and advice, personally I don't mind sharing it, and I already gave word so can't really dismiss my own promise without a good reason haha. It's not any mysterious or magical word so it's ok too.

 

[MapleDots]

Wow.... just wow

300k Euro??

It seems a bit rich to me.... the buyer probably got cold feet.

I mean, great if you get that much but we are in prime .com territory money wise here.

 

[tldboss]

I like the name. Take your time, considering you are getting consistent offers for it. Good luck

Move on, don't stress about the fake buyer.

 

[4better]

Well, there are always some buyers/jokers out there who, from time to time, changed their minds, backed out, or probably just want to create a joke and make you happy momentarily or perhaps simply drunk or high on drugs when the BIN was clicked. So many reasons which only the buyer himself knew. At one time, I received a million dollar offer for one of my domains. I just laughed it off and never responded as it's basically just a tiny spice of life.

 

[Rick Ace]

I had a 300,000 EUR unpaid sale record on Sedo, which was cancelled 2 weeks ago on one of my premium .APP domains to US buyer, online Purchase and Sale Agreement seems like a joke on websites like GoDaddy or Sedo. Heard too many unpaid stories about how they failed to do anything concrete on unpaid buyers. Literally a waste of time and money in many occasion.

What do you guys think of this? Just move on?

If it's Sedo, you can try contacting customer service to see what they say. Although, I admit there's not much that can be done.

 

[hohoho]

I had a 300,000 EUR unpaid sale record on Sedo, which was cancelled 2 weeks ago on one of my premium .APP domains to US buyer, online Purchase and Sale Agreement seems like a joke on websites like GoDaddy or Sedo. Heard too many unpaid stories about how they failed to do anything concrete on unpaid buyers. Literally a waste of time and money in many occasion.

What do you guys think of this? Just move on?

For €300,000 (and this also depends on the resources you have available, and on the counterparty) you might want to talk to a lawyer to see if you can enforce the sale. I personally would.

If an officer of a company (i.e. the CEO) made this "purchase" then it will likely be legally enforceable. But you will have to sue in the US. Unless you're dealing with an empty shell company, or you think you're likely to find a new buyer at €300k, it could very well be worth it.

Don't let them off the hook.

 

[Silentptnr]

It happens. Sorry it happened on a big one this time.

 

[DomainVP]

Most of these platform inquiries go nowhere, hell most inquiries in general go nowhere.

I ignore all platform inquires until they make a second inquiry or they finally just eMail me directly.

You want to waste a few days w/ GoDaddy going back and forth with a "buyer" only to find that their budget is $200 USD - sod off.

You count the money when it's in your bank, you talk when it's worth speaking. This will save you a lot of time and frustration.

 

[Andrew Knox]

Escrow is the same, i use efty with escrow pay and i've had it happen numerous times where they click buy now and agree to the agreement but then never pay. After 30 days it just gets cancelled.

Yeah I just had this for an 18k name