asking price on sedo

[peacock]

I saw this one on sedo today.
Looked like a bargain so I made a bid at the asking price.

Seller came back with a counter bid of £30k

What is the point of an asking price if they are going to put something less than 1% of what they actually want ?

Maybe they just want to make it look like there have been lots of bids when they pump the price back up ?

 

[Gal]

hmmm, isnt there some sort of consumer law where if you list something for sale at a certain price you have to adhere to it?

mind you Sedo probably have something in there terms and conditions to avoid this. there service is pretty good for the seller. at least you didnt repeatedly under bid the asking price only to get tied into an auction and see the domain I could have had for £150 go for well over 1k, hand + face = Doh!

 

[bensd]

Lee seems to have all/most of his domains listed at a £200 price. Not sure why though, maybe he thought he was listing £200 as the minimum bid.

 

[rob]

Min bids generally filter the people who trawl offering £50 a name.

 

[wb]

hmmm, isnt there some sort of consumer law where if you list something for sale at a certain price you have to adhere to it?

Think you may be thinking of contract law. The price shown is just an 'invitation to treat', and no contract is formed until there has been offer and acceptance. With Sedo it is the interested buyer submitting an offer first and awaiting either a counter offer, acceptance or rejection

 

[retired_member32]

I saw this one on sedo today.
Looked like a bargain so I made a bid at the asking price.

Seller came back with a counter bid of £30k

What is the point of an asking price if they are going to put something less than 1% of what they actually want ?

Maybe they just want to make it look like there have been lots of bids when they pump the price back up ?

i have posted about this before and it is very frustrating ,it is a means of ranking your domain higher up the search engine and yes sedo should pull the plug on it ,or even to put a disclaimer on the "asking price" stating that the "person who is listing this wants 1000% more and if you could make a bid for £200 i would appreciate it because it makes my average domain look brilliant and pushes it up the listing".