Sedo buyers: Gaming the system with multiple accounts

[JuniperPark]

It's now very clear to me that some people have MANY accounts at Sedo for bidding on names. One person even called me on the phone about his bids, and exposed himself when he mentioned his bids and bid comments from "another" account simultaniously bidding "against" him. When over 10,000 domains listed, I've notice I'll have about 4 near simultaneous "bids" on the same name after years of no interest.

If I cancel a bid (because these are mostly dozens of low-ball bids), I'll almost immediately get "another" new bidder at the same amount, wasting even more of my time.

As I've complained before, Sedo is allowing fake accounts which then don't pay when the bid is accepted. The seller gets a cryptic "the buyer hasn't confirmed his account details yet". I've said it before, and it's time for Sedo sellers to speak up:

DO NOT ALLOW BIDS FROM FAKE "Unconfirmed" ACCOUNTS!

I have been burned on this over and over again, as have many others. Sedo has to STOP ENCOURAGING FRAUD ON ITS SYSTEM.

Matt Bently had promised someone would be done when I met him at Traffic last February, but he apparently was demoted after that and none of the improvements we discussed have been implemented, such as the insulting pre-canned comments.

 

[maxo]

As far as I know, Sedo is scanning users with multiple accounts and suspending them from the system. Same happens to unconfirmed accounts, which fail to pay for the purchase. However, it is not always possible to detect them.

 

[JuniperPark]

As far as I know, Sedo is scanning users with multiple accounts and suspending them from the system. Same happens to unconfirmed accounts, which fail to pay for the purchase. However, it is not always possible to detect them.

These is NO EXCUSE for "unconfirmed accounts" being allowed to bid end enter sellers into binding contracts. This is assisting in fraud. The seller has to take his domain off the market for weeks until Sedo sends you the "congrats, you've been burned by our failure to confirm accounts again" letter.

The problem is that Sedo is unmotivated to fix the problem, and thye have proven to be unwilling to listen to customers. I don't know if a single suggestion made by sellers over the years that has been implemented. I've participated in 2 of their surveys, and again, all survey results were ignored.

Sedo, I challenge you to listen to your customers (SELLERS) for once. Get into the game! How about this: for every failed transaction due to Sedo's failure to verify bidder accounts, the next sales transaction is FREE.

 

[JuniperPark]

By the way -- when buyers from multiple bidder accounts are asking the domains to be pushed to the SAME eNom account, that's a clue!!!

 

[Theo]

Sedo's making a killing out of the seemingly paltry 10%. Personally, unless the offers are satisfactorily high I decline the offers - serious buyers simply do a WHOIS and contact me directly - the rest is taken care of through Escrow.com

Sedo needs to force buyers commit financially when placing an offer, by registering a valid credit card.

 

[hookah]

I use 'minimum price' option to avoid low ball bids wasting my time.

By the way: this bidding system needs to be improved greatly. So long time passes until I can conclude a transaction. Many buyers need even 2 weeks (sic!) just to confirm their personal details. Then sometimes they need another 2 weeks for sending a payment (or not). I am waiting at least 1 month, a domain is frozen (cant sell it to somebody else), etc. Tiring.

At least I'd suggest to demand full confirmed details of bidder's account to make a bid or give him 24 hrs. otherwise the transaction is cancelled.

 

[JuniperPark]

That's yet another problem at Sedo -- nobody at Sedo follows up when the seller fails to pay, I have to bring it to their attention, sometimes even after FOUR WEEKS of inactivity! I'm paying 10% for the transaction, and still having to do the follow-up myself.

Yet another way for Sedo to make amends for bad service -- If I'm having to monitor the escrow period and point out that the escrow period has passed with no payment, I should NOT be paying the 'full service charge' of 10%. I'm doing your job at that point.

 

[dolansco]

i once waited 12 weeks for a sale to finish ... but to be fair it was a very profitable sale ... and it went thru in the end ..... BUT .. they should make bidders put a cr.card on account first. Thats just logical imo ...

 

[Theo]

Imagine having to deal with a "Reputable buyer" (in the words of Sedo) whose behavior ended up being that of a crook - stretched a five digit sale over a period of 3+ months and apparently had pulled the same stunt other times.