aqls

869 pounds converted to euros is 1 283.79 Euros
http://www.google.com/search?hl=en&lr=&q=convert+900+pounds+to+euros&btn G=Search
(midmarket price at 15.12 today)
This equates to an exchange rate of 0.6769 euros to the pound (or 1.4773 pounds to the euro)

To then have the market move against you -

[QUOTE = sedo]
In the 2 days it takes for payment to reach me . . .
[/quote]

To lose £31 pounds i.e. from £900 to £869, the exchange rate must have moved from 0.70104 euros to the pound. (or 1.4264 euros to the pound)

i.e. when you changed 900 to euros you got 900 / .70105 = 1,283.79 euros.

Looking at the yahoo exchange rate graph

British Pound to Euro Exchange Rate - Yahoo! Finance

You must have sold the domain exactly on the 1st April (april fool's day) and then had the money transferral take not 2 days, but until the 1st August until this exchange rate has gone against you to that extent.

You would have also been very unlucky to have caught the years low of the euro.

So you are a) extremely unlucky having sold the domain on that date. (the lowest value of the year)
b) extremely unlucky in that the money transfer took 4 months
c) extremely unlucky that the exchange rate moved the most it had moved all year in the opposite direction to your position during that 4 months.

Hard luck.

-aqls-

worlddom

Wow, that's some incredible research. I'm glad that it supports my case and that I dont have to come up with an argument against it.

Thanks for this information aqls, to be honest I hadn't even researched the exchange rates, I was too busy being confused about where Euros came into the equation.

FYI the sale went through reasonably quickly as far as I can recall and payout was last week.

retired_member11

So you are in Spain?

worlddom

I live in Spain some of the time, The UK the rest.

Below is a screenshot of the transaction information. $1000 dollars to the person who can spot the words 'Euro' or 'Euros' in this picture. (and no swapping letters around!)



I too would love to hear a satisfactory response.

aqls

exchange rate 4th August 2006
1.48116 euros to the pound
£900 is euro 1333.04

exchange rate 31st August 2006
1.48706 euros to the pound
1333.04 euros is £896.43

The exchange rate risk/loss was £900 - £896.43 = £3.57 at mid market rates.

The rest is trading profit i.e. spread, commission/fees, extra charges.

-aqls-

aqls

The word euro appeared twice in the above picture rendered by my monitor.

payment by paypal please.

-aqls-

retired_member11

\

In the screen shot? Where?

worlddom

lol aqls, did I mention payment was in Disney Dollars.

sedo

Hi Mark,

Our system is set up to send payments within Euro-currency countries in Euros. We send sterling to the UK and US dollars to the US. Our clients can choose the currency in which bidding takes place, but if you are located in the UK and choose to sell your domain in US dollars, your payment will be in sterling (the rate of conversion happens at the time of agreement).

This happens for several reasons. Mainly, most of our clients prefer to receive payment in the currency of their home country. For those who live in countries other than ones whose currencies we offer, we pay in Euros for parking or the currency of their choice for domain sales.

Sedo does not benefit from this currency issue and you certainly don't, either. Your bank does. This is a rare case (of which I have only seen happen twice, and both times were this past week). I'm going to send you a PM to go into more specific details with you, but I did want to make a post on here so others know what is going on.

Kind regards,

Brad
brad.tilley@sedo.com

__________________
http://www.sedo.co.uk joanna.birch@sedo.com

worlddom

Hi Brad

Thanks for getting back to me.

I'm sorry but I perhaps haven't made myself clear so far. My bank is within the UK, not Spain. The account is in Gibraltar (part of the UK) and is in Sterling.

Best regards
Mark