clarification rqd plse

[fish]

Can anyone clarify what the last sentence means?

who is the 'you' reference?

thnx

Howie

From sedo information popup on offer page:
within 5 days of reaching an agreement, the seller has the opportunity to start an auction based on the buyer's latest offer. Other interested parties then also have the opportunity to bid on and acquire the domain through the auction process. The buyer's original offer remains binding. Should no higher offer be received during the auction then the domain is automatically sold to the original buyer. You also have the opportunity to bid on the name, raising your original offer in order to decide the result of the auction.

 

[GlasgowBob]

I'm assuming they mean the person who put in the offer before it went to auction

 

[EdwinEdwin is verified member.]

Yes.

Here's how it works:-
1. You offer 1,000 pounds
2. On the back of your offer, the seller clicks to send the domain to auction with 1,000 pounds as the opening bid
3. Anyone at all (including you) can bid on the auction
4. The winner is the person who bid highest when the auction closed (except that if nobody else bid, you automatically win at 1,000 pounds i.e. = to your offer)

 

[fish]

I'm assuming they mean the person who put in the offer before it went to auction

as the seller you'd think so, the 'you' should really be 'buyer' or 'original buyer'

Yes.

Here's how it works:-
1. You offer 1,000 pounds
2. On the back of your offer, the seller clicks to send the domain to auction with 1,000 pounds as the opening bid
3. Anyone at all (including you) can bid on the auction
4. The winner is the person who bid highest when the auction closed (except that if nobody else bid, you automatically win at 1,000 pounds i.e. = to your offer)

thnx Edwin, have been thru the process a few times but never read their info

 

[fozfoz is verified member.]

You also have the opportunity to bid on the name, raising your original offer in order to decide the result of the auction.

Never spotted that before. Could that not be seen as shill bidding?

 

[Bailey]

I'm very surprised it's actually sanctioned as a method of getting names into the Auction process, I did wonder whether things were begining to dry up at Sedo due to the 'first bid process' required to go to Auction.