Experiences with Sedo

[Ben Thomas]

Hi all,

I recently sold a domain on @sedo (an RoR domain) that was on offer for £800, the buyer offered me £800 and I sold it at that price. The process has been smooth so far, the buyer paid into Escrow almost instantly and I have now transferred the domain over to the buyer. However, the payment hasn't come through to me and in the transfer centre it states they are still waiting for the buyer to confirm the transfer.

How does this process work? Does the buyer receive a separate email from @sedo that they have to click on to confirm the transfer has happened? I feel slightly exposed now, this is my first transaction on Sedo and I have neither the money from the sale or the domain in my possession.

Thanks

 

[deluxedomains]

Hi all,

I recently sold a domain on @sedo (an RoR domain) that was on offer for £800, the buyer offered me £800 and I sold it at that price. The process has been smooth so far, the buyer paid into Escrow almost instantly and I have now transferred the domain over to the buyer. However, the payment hasn't come through to me and in the transfer centre it states they are still waiting for the buyer to confirm the transfer.

How does this process work? Does the buyer receive a separate email from @sedo that they have to click on to confirm the transfer has happened? I feel slightly exposed now, this is my first transaction on Sedo and I have neither the money from the sale or the domain in my possession.

Thanks

Felt the same way when i sold my 1st domain through them..next day i received payment.all be ok

 

[Nigel]

it is normal procedure - although a bit annoying (caused by GDPR and lack of info on whois). On occasions I have pasted in the transfer email from nominet to show that nominet have definitely transferred it. Credit note should be issued within a couple of days and then payment is usually made the day after that.

 

[JMI]

What was the total commission you paid in the end?

 

[Ben Thomas]

15% commission. Unreal. I thought I read somewhere it was 3%

 

[Domaintial]

15% commission. Unreal. I thought I read somewhere it was 3%

Its less if it was parked on their NS before the negotiations began. Going from memory, been a while since we sold through SEDO.

 

[Ben Thomas]

It's all good, it's been an ok process to be honest and I wasn't expecting the sale and it's not bad profit for me considering I paid £3.75 for it.

 

[RobM]

.

 

[Sean]

it is normal procedure - although a bit annoying (caused by GDPR and lack of info on whois). On occasions I have pasted in the transfer email from nominet to show that nominet have definitely transferred it. Credit note should be issued within a couple of days and then payment is usually made the day after that.

If you make the whois name and address visible before the transfer, they stay that way afterwards and you can then send a link to the whois to show the transfer has completed.

 

[Ben Thomas]

If you make the whois name and address visible before the transfer, they stay that way afterwards and you can then send a link to the whois to show the transfer has completed.

I haven't found this to be the case. All of the domains I register are open WHOIS (unless for specific clients), and now that the transfer has been completed, the details of the registrant are private.

 

[Domaintial]

If the buyer doesn't respond to confirm that the transfer is completed, SEDO will auto close the transaction in 5-7 days, and assume everything was fine and release the monies.

 

[sedo]

First of all congratulations on selling your domain. As one of the members here correctly stated, due to GDPR the information change is likely not shown on the whois information. Our Transfer team will write to the buyer giving 5 days to confirm that they have ownership of the domain, should the buyer not respond after this time then the transfer agent assumes the transfer has taken place and creates a credit note, the payment follows shortly after (normally 1 or 2 days). As you have not stated the domain I can not check this for you but if you have any further questions about the transfer then feel free to email [email protected] or phone them directly on 0049 221 340 30 180 and they can give you a better idea of the time frame.

Concerning commission:

15% commission applies to all marketplace sales as Make Offer or Buy Now.

3% commission fee only applies if you reach a sale outside of Sedo and purely use the transfer service / escrow and not our marketplace.

10% commission applies to sales where the domain is parked with Sedo and sold directly on our marketplace.

All the best. Chris

 

[JMI]

So you had to pay a middleman £120 commission to do transfer work yourself when the buyer would have made contact and bought from you anyway, and then wait weeks to get the money.

Could have been free if you used domainmanage.uk

 

[Domaintial]

So you had to pay a middleman £120 commission to do transfer work yourself when the buyer would have made contact and bought from you anyway, and then wait weeks to get the money.

Could have been free if you used domainmanage.uk

Sadly its the nature of the game still... realistically what they are charging for is access to peoples attention (as well as acting as some form of "credibility" for the buyer). True, a buyer may well have contracted and dealt directly with Ben, but if they don't know him, his company, his brand etc, he may have achieved a lower sale price, or no sale at all (risk consideration). Buyer may have felt more comfortable as they are familiar with SEDO, established, brand, etc. Human nature.

GBP 676.50 profit from a single transaction... like Ben said, he's a happy chappy.

Although we have landers on all of our names (our own system rather than DomainManage), the bulk of the offers we see are through the platforms (SEDO and others). Buyers are on their site looking at name inventory in a broader sense. If you don't want to incur the commission, then don't list on their marketplace. This is how free market economics work

@inteldigital you gonna share the name?

 

[newguy]

It's all good, it's been an ok process to be honest and I wasn't expecting the sale and it's not bad profit for me considering I paid £3.75 for it.

Very Nice profit then and glad you've received funds! What was the domain if you don't mind me asking?

 

[JMI]

You can tell who's new to domaining when they seriously believe in SEDO and think end users care about the size of the company.. I actually think it's confusing. I've never lost a sale to an end user when dealing 1:1

£676 might be ok when it cost £3.50 but what about the other side of the coin when it cost £500 that's half the profits gone

 

[ian]

So you had to pay a middleman £120 commission to do transfer work yourself when the buyer would have made contact and bought from you anyway, and then wait weeks to get the money.

Could have been free if you used domainmanage.uk

But how do you know the buyer didn't find the domain through browsing Sedo's 'stock' rather than direct? Also, maybe the buyer wanted the reassurance of an escrow service.

(not that I condone using Sedo...they are shiiiiite!)

 

[Domaintial]

And you can spot an asshat that can't read when you look through forums

 

[Domaintial]

But how do you know the buyer didn't find the domain through browsing Sedo's 'stock' rather than direct?.

You ignoring me Ian?

 

[Ben Thomas]

Guys, come on. I listed the domain among others almost immediately after they were registered as a "stop gap" service whilst I worked on RoR sales and auctions and other things. I didn't have a single chance to put my own for sale pages on the domain as it sold that fast. I don't recommend using Sedo at such ridiculous commission prices. On this occasion I don't mind, and I have to say the service has been good from Sedo.