What should I do?

[invincible55]

I have a domain listed on Sedo.

It is geo domain name, ccTLD of Lithuania (.lt)

Someone made me the offer and after some negotiation I sent domain to the auction.

2 day before the end of the auction I received this kind of email from Sedo's personnel:

Dear Mr. xxxxxxx,

I’m xxxxxxxxxx, the Country manager at Sedo.com.
You are selling the domain xxxxx.lt on our auction and the bidder was an Italian customer.
I have been in contact with this customer, and he has written me an e-mail and told me that he made a big mistake with this domain. He was sure he was buying the .IT domain: xxxxx.it.
I have spoken with him and taken a look at your negotiation. He told me you were very clear and wrote in your comments 2 times it is a .LT and not an .IT domain. He simply didn’t read your comments: he received 3 counter-offers from you and read only the first comment.
Therefore, he made a mistake and was sure he was buying the .it domain. He doesn’t need the .lt domain and would like to break off the transaction.
He is very sorry, and would like to offer you a little sum of money for the time you have wasted with him.

Would that be ok for you?

Best regards,


My position is:

To wait the end of the auction. I want to sell this name. The buyer agreed (according to Sedo rules) to pay this sum when he made me his offer and as it seen from email I was clear with him.

What kind of legal actions can I use against this buyer and this situation?

I need your advice asap: What should I do?

 

[Len]

If it get's to the end of the auction and there are no more bidder's then what are you going to achieve? If he does not pay then you have the option to persue this through the courts, but are you willing to spend the money for a lawsuit? I do not know if or how easy it will be to sue someone from another country.
Having figured out what the domain is and the current bid, I would not think that it would be worth the hassle and money it will cost you even if you win!

There are non-payers on sedo all the time, you are lucky that you are at least getting some form of explaination as to why this guy doesn't want the domain and he is willing to compensate you for your trouble.

I would ask for 10% of his offer as compensation and request sedo re-list it on open auction with a reserve price that you are comfortable with.

 

[SpareDomains]

I agree with Len, very rare to get an explanation and an offer of some form of compensation which indicates the potential buyer has some form of class, personally I would say okay to the compensation and ask sedo if maybe they could feature the name for free, you can fight it legally but the amount of time and money involved I don't think would add up or make it worthwhile.