Fake offers on Sedo

[Wot]

I am sure I am not the only one who has received "fake" offers but it really should be better regulated by the main brokers such as Sedo.

Three times in the last four months I have received and accepted offers(total value app $28,000) on names listed at Sedo. Each of them has failed has failed to come to fruition this is what I get:

"The buyer of the domain has yet to confirm his personal details and contract type. Every effort is being made to contact the buyer in order to get him to complete this information. Once this has been done, the transfer can proceed to the next stage."

With the last one Sedo confirmed they have "buyer" details on record so they know who he/she is.

Questions to Sedo:

1) Do you actually ban these people when they do this?

2) If you have the names/details of these people why not publish a list of their names/details on the forums - some form of "Shame sheet" then others will know who they are and be forewarned.

I have had two successful sales in the same period, thank you - but a very poor conversion rate

 

[Theo]

Instant solution: move your domains out of Sedo. I'm currently testing other PPC co's.

 

[SedoCoUk]

Hello Wot,

We follow up with bidders who do not fulfill their obligations to purchase a domain once they agree to purchase it and we do suspend their accounts. We try to be flexible and understanding but you are correct we can't and do not continue to accept offers from peopel who do not follow through.

Jay
[email protected]

I am sure I am not the only one who has received "fake" offers but it really should be better regulated by the main brokers such as Sedo.

Three times in the last four months I have received and accepted offers(total value app $28,000) on names listed at Sedo. Each of them has failed has failed to come to fruition this is what I get:

"The buyer of the domain has yet to confirm his personal details and contract type. Every effort is being made to contact the buyer in order to get him to complete this information. Once this has been done, the transfer can proceed to the next stage."

With the last one Sedo confirmed they have "buyer" details on record so they know who he/she is.

Questions to Sedo:

1) Do you actually ban these people when they do this?

2) If you have the names/details of these people why not publish a list of their names/details on the forums - some form of "Shame sheet" then others will know who they are and be forewarned.

I have had two successful sales in the same period, thank you - but a very poor conversion rate

 

[dvdrip]

Then how come I had a fake buyer come back after a few months making an offer on the same domain?
He finally paid for it the second time around but that doesn't explain anything.

 

[Theo]

Not only fake bidders need to be banished, but also derogatory comments sent along with offers should be disallowed as well.

 

[Wot]

Hello Wot,

We follow up with bidders who do not fulfill their obligations to purchase a domain once they agree to purchase it and we do suspend their accounts. We try to be flexible and understanding but you are correct we can't and do not continue to accept offers from peopel who do not follow through.

Jay
[email protected]

Hi Jay,

Welcome to DNF.

Yes, I believe they are being banned and also I have the name/details of the last person who did this. Perhaps consider what I said and put a "list of shame" up somewhere on Sedo so that all may see.

Alternatively SEDOBlog.com may be going live in the not too distant fiture so maybe you could use that :cheeky:

 

[Theo]

[mod]harrasing comments deleted[/mod]

 

[pelican]

i think that sedo should list out the names of those who break the contract, so that other domain name community will be aware.

 

[ehdonhon]

Then how come I had a fake buyer come back after a few months making an offer on the same domain?
He finally paid for it the second time around but that doesn't explain anything.

Had the exact same thing happen to me. The guy that was supposedly banned from the site ended up making a second offer on the same domain. For some reason, he actually followed through with paying the second time around.

-Dan

 

[domaindirk]

Between the fake offers and low revenue over the past weeks, I've had enough. :disappoin

DD

 

[goeagles]

A feedback system is the key to any successful trading platform

 

[ehdonhon]

A feedback system is the key to any successful trading platform

I'm not so sure about that.

Suppose there was a feedback system offered. What would you do differently when receiving an offer from somebody with no feedback vs. somebody with a lot of feedback? Would you refuse their offer based just on that?

 

[SedoCoUk]

We've actually developed plans for feedback system. It is a long-term project and currently its in a very preliminary stage. Our marketing team is still sketching out how it should work but we believe that a transaction based feedback system is definitely worth implementing.

Jay
[email protected]

 

[DomainTurn.com]

sedo has been an effective way to sell domain names. There ppc is just ok
you don't have to use threre ppc to sell domain names it just cost a little more.
and takes a little longer. they are very direct in there sales. I do agree there should be a rating and they might look at dnforum for there script. It's very easy and direct
so if you choose to do business with someone that likes to make offer's and not pay you can. I myself had that hapen but it was on afternic. Sedo seems to be an awesome place to do business and they have set the standards for all domainers
I will always be thankful for places like sedo. They are a super star and a quailty
forum in which doing business is alway a pleasure. Thanks for being there sedo. I know there are people you can't control but thanks for the ones you do.

dt

 

[goeagles]

Feedback adds a layer of protection for both sides of a transaction. Feedback systems stimulate trading by promoting a safe and community driven platform. The domain industry is its own community of speculators and as as such the feedback system would funtion well. Zero or little feedback should always be approached with caution and the protection of escrow must be used. Once a feedback system is in place, trading between speculators with established feedback will lessen fraud and no -pay incidents and help self police the system.

 

[Theo]

We've actually developed plans for feedback system. It is a long-term project and currently its in a very preliminary stage. Our marketing team is still sketching out how it should work but we believe that a transaction based feedback system is definitely worth implementing.

Jay
[email protected]

hi Jay,

A feedback system would be less effective, in my opinion. All Sedo needs to do is require all bids to be accompanied by a CC validation process. Most buyers are not repeat buyers, they want a particular domain and that's it.

 

[SedoCoUk]

hi Jay,

A feedback system would be less effective, in my opinion. All Sedo needs to do is require all bids to be accompanied by a CC validation process. Most buyers are not repeat buyers, they want a particular domain and that's it.

We're still in the process of carefully planning out how this would work. Actually we do have many repeat buyers, but you are correct a significant number of buyers are end users who are looking for a single online branding solution. So past transactions wouldn't be the best way to rate them. We are looking at other options for buyers including a cc verification. Our fears with that are that many sincere buyers will be unintentionally filtered either because they don't have a cc handy or would be reluctant to give that information up front, etc..

The feedback system is still in the planning stage though so this option, among others is still on the table.

Jay
[email protected]

 

[namestrands]

The CC verification for new members really is a must.. as for them being filtered out.. I would think that if people want the domain then they will do what it takes.. companies like Snapnames and Enom, Ebay etc require valid CC or bank details online, I am confident that their business model has not been affected by this.

 

[domaindirk]

Just thinking out loud here:

• I assume that Sedo has a PayPal account, sooo….
• A buyer places a bid by sending the bid amount to Sedo’s PayPal
account.
• Sedo notifies the seller.
• Seller accepts the bid.
• Seller transfers the domain to the buyer.
• Sedo transfers funds to seller’s PayPal account, minus commission.
• Or, seller counters bid.
• Buyer accepts, or counters by sending additional funds to Sedo
PayPal account.
• If any counter bid is not accepted by the buyer, or seller, the funds
are returned to the buyer.
• Paypal fees should be absorbed by Sedo.


d
DD

 

[Theo]

The problem is not in the transfer/payment process but rather in the negotiating process: bidders place an offer - then they never pay (nor get the domain of course).