Sold on Sedo, month later buyer pays... ?

[DotWeekly]

I started an auction for a domain on Sedo and the auction ended 3-23-2008. Now today, 4-28-2008 payment was made.

Now, it's been 39 days and I truely never figured this buyer was going to pay after 14 days had pasted. I have looked at sedo's TOS and see nothing with an amount of "time" a deal is "open".

So in the mean time, I have listed the domain at another auction service and it's currently on auction with bids etc. So I need to know if I "have" to follow threw with the payment/sale at Sedo and the 39th day payment or if I can sell it else where? Currently the price is a bit higher then what it sold for 39 days ago, but I think 39 days is out of a contract to purchase if you ask me.

 

[-REECE-]

I've pressured them in the past to void a deal when it's taken 4+ weeks.

When you complain by email, they tend to want to "give it one last chance", which means waiting several more days... Perhaps a phone call is in order to straighten things out. The only thing I've seen regarding how long a deal is "open" is the 7 days from making your offer/counter-offer. Clearly is been alot past that... I've never had a problem getting excessively long transactions cancelled.

I started an auction for a domain on Sedo and the auction ended 3-23-2008. Now today, 4-28-2008 payment was made.

Now, it's been 39 days and I truely never figured this buyer was going to pay after 14 days had pasted. I have looked at sedo's TOS and see nothing with an amount of "time" a deal is "open".

So in the mean time, I have listed the domain at another auction service and it's currently on auction with bids etc. So I need to know if I "have" to follow threw with the payment/sale at Sedo and the 39th day payment or if I can sell it else where? Currently the price is a bit higher then what it sold for 39 days ago, but I think 39 days is out of a contract to purchase if you ask me.

 

[recluse99]

I saw this in the sedo agreement...
---
If, during the course of an Open Bid Thread, a User makes an offer for the conclusion of a purchase and sale agreement, then he/she is bound to this offer for 168 hours, which corresponds to seven days from the time when the offer was rendered.
---

 

[DotWeekly]

I saw this in the sedo agreement...
---
If, during the course of an Open Bid Thread, a User makes an offer for the conclusion of a purchase and sale agreement, then he/she is bound to this offer for 168 hours, which corresponds to seven days from the time when the offer was rendered.
---

I think that is just for the "Auction" but doesn't clearly state anything about how "long" the buyer has to pay the seller under the current deal.

I will call Sedo, but I already know what they are going to try and push, so I wanted some proof of a time period the buyer has to pay or the offer would be void.

**Just an update after talking with Erich Mueller on the phone from Sedo.

First off, he is in NO WAY professional about customer service. After he got a hint that I was calling off the deal, he was very short and very unprofessional.

My first question was the amount of time a Buyer has to pay for the sale to be valid. Erich stated the buyer has 10 days to make payment, after that, the seller has the right to void the sale if they choose. In this case, it has been 29 days past that, so I have every right to void the sale if I choose. It is not my fault Sedo didn't put enough pressure on the buyer to make payment in a timely fashion!!!

Because Sedo currently (39 days after the auction end) has the payment, Erich STRONGLY advised that I go threw with the transaction. No Kinding (for you and Sedo)! I had stated in 39 days, values change on a domain name and the purchase price that the sedo buyer purchased the domain for, was not what the current value IS as I seen it and I would be not willing to offer the domain any longer to the sedo customer! Plus, the buyer has 10 days to make payment and this did not happen!

Oh, BTW... I am pulling ALL my domains that I have listed with Sedo and this is 100% because of Erich Mueller and his piss ass attitude!

 

[Domagon]

In regards to sales / auctions, Sedo is a venue - that's all.

Sedo can't and won't enforce deals ... about the most Sedo will do is, sometimes, is suspend the person's account, which basically means nothing because the person can simply create a new one.

Don't sweat it - sell it elsewhere. Sedo had its chance and blew it - 7 days has long since past...

I'll wager the person is paying now because they saw your other auction and are trying to get it for less...

While on that topic, keep an eye out for that person in your other auction - if they happen to win that one, they may pull the same crap with you again.

Ron

 

[DotWeekly]

Thanks Ron.

Since Sedo protects it's buyers there would be no way for me to tell if the bidder would bid on the current auction for the domain. If they do decide to bid, they will be paying More, as the auction is higher then what it sold for 39 days ago on Sedo :lala:

 

[Rob J]

Oh, BTW... I am pulling ALL my domains that I have listed with Sedo and this is 100% because of Erich Mueller and his piss ass attitude!

Good. I pulled my domains after I learned of their association with the scam organization 1&1, by your account it sounds like they have the same customer service staff.

 

[recluse99]

Hope this one goes through, good to know that it is higher now...

 

[Domagon]

I thought Sedo released the buyer's name after the auction ended, but perhaps I'm mixing up Sedo with Afternic, which at least back in the day, had some transparancy in that one often knew (could easily find out) who they were dealing with.

I've sold two domains over the years via Sedo auctions, but in both instances I already knew who most of the bidders, including the winners, were beforehand.

If your current auction is where I think it is, this time it will likely be fine

Ron

 

[flamewalker]

If you sell the domain elsewhere, there is nothing they can do to you anyways... and unless its a major price (many thousands) they won't even bother cause it will cost them more to pursue you than their commission.

Good luck.

 

[Domagon]

If you sell the domain elsewhere, there is nothing they can do to you anyways... and unless its a major price (many thousands) they won't even bother cause it will cost them more to pursue you than their commission.

I've never heard of Sedo, Afternic, nor even Ebay for that matter taking legal action to recover "lost" commissions regardless of the sales amount...

Furthermore, when pressed Sedo, Afternic, Ebay, etc will fall back on something like "we are a venue" ... and basically say to the parties to settle the matter themselves; it's not our problem.

Ron

 

[flamewalker]

I may be mistaken, but I thought there was one or two cases for very large sales that Sedo went after the seller...maybe not... :p

 

[StoneRoses]

I am in a similar position having sold a name for low $x,xxx On April 9th, still not had payment and i informed sedo unless they pay within 24 hours then the deal is off, i received a reply stating that the buyer is away on a business trip until May 6th ,after which he can then check with the bank.

This is a joke!, it is 2008 and there is no excuse for not being able to contact a bank while you are way on business.
It really pisses me off that people think they can bid on a name and leave you waiting over 2 weeks for payment, it is completely unprofessional and damn right rude imo.This is not how i do business with people, i am not DFS and do not offer a buy now pay whenever you feel like it policy.
If i can't afford to pay for a name within an acceptable time scale then i will not bid on it.
Excuse the rant but as you can probably tell ,it infuriates me.

 

[recluse99]

I guess that is the NEW scam...
bid on a name and win-don't pay until there is an end-user to broker to.
If no end-user, don't pay, if there is pay and resell $$

 

[flamewalker]

StoneRoses: imho inform Sedo that the deal is cancelled. Their own terms say 3/10 days to pay based on what others here said...he is well beyond a reasonable period to make payment. Forget the deal and find another avenue imho. First to pay is the first to get... thats the way it works in real life. If you call a guy from a classified ad, and tell him you want it, you can't expect him to hold on to it (whatever "it" is) for more than maybe a few hours or a day or two if you are lucky.

 

[mjnels]

once upon a time i sold an $x,xxx domain on sedo.....

after 10 days sedo canceled the deal for non payment.
2 days later, i get a call from Erich Mueller saying it was canceled by "accident" and the buyers payment just came through...

the thing is, i lost money on this domain sale... so i breathed a sigh of relief when they officially canceled the transaction after 10 days of non-payment, without me having to even ask them to do so.


Erich was relentless trying to get the domain from me... he just would not accept that he canceled the transaction himself and that, NO the domain is not available for the voided auction price.


he finally hung up on me after repeating the same thing over and over 10 times....

 

[Semtex]

Association with 1and1?

Good. I pulled my domains after I learned of their association with the scam organization 1&1, by your account it sounds like they have the same customer service staff.

I am not for sure how 1and1 is a scam organization? I have bought and transfered dozens of names through 1and1 for a couple of years now and have never had a problem. There user interface is actually a lot more basic and more cut and dry than other registrars I have used.

 

[Rob J]

I am not for sure how 1and1 is a scam organization? I have bought and transfered dozens of names through 1and1 for a couple of years now and have never had a problem. There user interface is actually a lot more basic and more cut and dry than other registrars I have used.

well, i'd rather not hijack this thread but there is plenty of evidence around if you care to look, or listen to your fellow namepros.