Sedo In Financial Trouble?

[namestrands]

I have to ask the question as I purchased 2 domains back at the beginning of December, both sellers have gone AWOL and SEDO have cancelled the transactions.. however despite numerous calls and emails SEDO have not returned the funds. In fact they are putting up smoke an mirrors as to the reasons.

I have to wonder if someone has called the administrators in.

 

[Gerry]

Funny...sounds like a normal day of business to me.

 

[Theo]

I think February has no major holidays in the UK, Germany or US so they are bound to be back in full force

 

[draggar]

You forgot St Valentine's day, Acro.

Oh, wait, you said major. :lol::smilewinkgrin:

 

[Bill Roy]

Here is a list of Saints that are celebrated this day, I wonder could it be that Sedo are celebrating St. James the Hermit?

Bl. Amadeus of Lausanne
St. Antilnus
St. Valerius
St. Thyrsus, Leucius, & Callinicus
St. Thomas Aquinas
St. Cannera
St. Flavian
St. Glastian
St. James the Hermit
St. Jerome Lu, Blessed
St. John of Reomay
St. Julian of Cuenca
Bl. Lawrence Wang
Bl. Roger of Todi
St. Richard of Vaucelles
St. Odo of Beauvais
St. Palladius
St. Paulinus of Aquileia
St. Peter Nolasco

 

[namestrands]

Well if I don't get my money soon.. looks like I will be issuing a county court judgement against them.

 

[Jon]

That's ridiculous. Let us know what comes of it.

 

[Gerry]

however despite numerous calls and emails SEDO have not returned the funds. In fact they are putting up smoke an mirrors as to the reasons.

We are looking at essentially the same time line I had my last go round with.

If your agent is named Joe Palombo, get the hell out now.

For weeks this *** did not answer any emails or return calls.

I demanded funds back. Only after contacting the higher ups did I get a response from him.

Totally non-apologetic and lying.

What really pissed me off, instead of honoring my repeated requests to refund the money, this jerk created a damn godaddy account and deposited the domain in there WITHOUT my authorization.

Created an account, told me where it was, and then list the transaction as having been concluded.

 

[Keynes]

it's sad, but it's gotten to the point that one should almost wait to get a manual confirmation from the escrow agent that the buyer intends to follow through before moving forward

 

[mvl]

I bought a name that got cancelled by Sedo. On january 14 I received an email message from a Sedo rep confirming my refund was processed, but I haven't received anything since.

 

[namestrands]

Will do. At the moment they owe me just over $1500 US now. I have sent a total of 8 Email and made 4 phone calls.

This is not the first time either. They owed me over $13k just the other week and it took a month to get that back.

I hate to say it but if they cant pay their customers then what sort of future does this company have? and while I appreciate that they are a money pit, one has to question where that money is?

If it aint going to the domainers in the form of revenue, and if it isnt being returned from botched up auctions then where is the money going?

 

[Gerry]

And I certainly hope Tom and Monica from Sedo.UK are reading this because this is the type of lame shit going on with Sedo.

Having to wait more than 30 days (some more than 60 days) for payment, waiting a month or more for names to be transferred, and playing games like I stated above.

Real professional organization here.

And if I cashed in on all the "oh, we're so sorry. Here are a couple of free featured listings for your inconveniece,"...

Hell, if I did cash all those freebees in, I would OWN sedo's homepage.

 

[namestrands]

Well how is this for Irony.. as soon as the auctioned ended, I totalled up over $40k of domain purchases.. I got an email from one of the reps demanding payment for the domains. (guess they wanted their christmas bonus)

Actually the problem maybe that the reps don't want to part with their bonuses, so they are dragging their feet.

 

[Bill Roy]

Let us say 5% interest on an average of $1,000,000 held at any one time on account then that is $50,000 a year they are earning by holding on to customers money. Sorry but what else do you expect from Sedo?

For the past couple of years there have been similar threads to this one and yet look how many people park there! Generally one of the worst pay out rates for clicks in the industry, never answer emails, botch even huge auctions as well as small auctions, hold customers money, never answer straight questions with striaight answers, do not pay for multiple clicks on different adverts by the same visitor, the list just goes on and on and on.

I find it astounding that domainers still park with them let alone do business (when that is possible) through them.

 

[TiffanyR]

ive never had a problem with them

 

[Bill Roy]

Tiffany I am glad for you, honestly.

But the solution is if 'you' get bad service from a company stop doing business with them. If 'you' get good service from a company then keep on using them.

 

[Salient]

NT, with the world economy about to take a digger interest rates have dropped and they need to keep your funds banked longer to match their typical returns.

 

[namestrands]

I have the contact details of Stéphane Cordier the CEO of SEDOs Majority shareholder AdLink, and seeing as I am a shareholder of AdLink I think its time I exercised my rights. Letter being drafted now, and rest assured that I will insist that they take a look at this forum.

 

[SedoCoUk]

Hi Namestands. Tom has already been in touch with our finance department to issue the refund for the first domain in question. You can view the refund by going to the billing section in your Sedo account. Please PM me the other domain you're referring to so we can solve this issue.

Anyone else who would like us to look into a specific transaction, please send a PM with the specific domain name in question.

Thanks!

Monica

 

[namestrands]

"COMMUNICATION"

Learn that word.. I noted another transaction in my account that has been refunded, and guess what.. no "COMMUNICATION" as to why..

I have had a gutful of this.

(by refund I mean that it say this in my billing summary, however no refunds have been made to me personally)

The latest domain was a .co.uk.. so I have paid all the nominet fees relating to this transfer and now I note that SEDO has put a refund on the billing screen.

Which means I am out more money.