Sedo auction question (URGENT)

invincible · Nov 17, 2007

I received an offer for my domain. I want to start an open auction, but the offered price is not ok to me. How can I set the reserve price, because as I understood if I will start the auction and no one else bids on the name then the offer I received will win. Please, I need urgent advice.

ivoy · Nov 17, 2007

Once you start an auction, the offered price becomes the reserve price and you are obligated to sell your domain for that amount even if you do not receive any additional bids.
This is from Sedo's FAQ:
"A Marketplace Auction is an auction that is initiated by the seller once he has received an offer through Sedoâs traditional marketplace. This offer will then serve as the reserve price and an auction for the domain begins. . Since you already have a committed offer at the reserve price, your auction listing is guaranteed to end in a sale! ... "

klklinc · Nov 17, 2007

If the offer is not good enough for you and you are satisfied that the domain is worth a lot more then you should counter offer and hope the potential buyer increases his offer. If you send to auction at a price you are not happy with there are no guarantee's that anyone else will bid and you may regret it.

WeBuyThe.Com · Nov 17, 2007

What's the name? You may benefit by posting it here. Perhaps a number of people will express interest resulting in a sale price far greater than what you're expecting.