Sedo just waste my time

[ships]

Hi,

I have had yet another sale fall through with Sedo.
I would like to know if this is happening to other sellers on a regular basis.
I do not understand why this happens. Sedo state that when making a bid,that you basically form a legal contract that is binding.Why do they not enforce this? It is a waste of time and all the time that the domain is so called "sold", it is not earning or being marketed.

I think they need to have a serious look at how their system works as it does not!

 

[Takwa]

Happens everywhere not just at Sedo

 

[Alex-Z]

Hi ships, I sold a domain on Sedo on the 3rd of July and I'm still waiting for the payment.
Apparently the buyer hasn't paid yet.
Shaun and Iris have been answering my emails and been very kind, but there are no traces of the money yet.

I'm just not sure how much Sedo are chasing the buyer to pay. Personally I believe they should be his worst nightmare until he pays what he legally committed himself to paying.

I'll let know you what happens in the end, as I've been talking about this in a number of forums and blogs and I will definitely make the outcome public, including Sedo's performance, whether it's good or bad.

 

[Alien]

I sympathise; I've had a number of sales fall through with Sedo and the so called 'legally binding contract' never actually appears to get actioned! LOL. All you eventually seem to get is the 'buyers' details to pursue yourself, if you'd like to - great.

I'm currently waiting for payment on another recent Sedo sale which is now looking like it'll be yet another non-paid for sale by a non-paying buyer.

 

[GreyWing]

Mate Sedo doesn't phone people up and tell them not to pay, it's really not their fault that the world is full of idiots who want attention by agreeing to buy domain names.

Should they stop people being paid out revenue etc, maybe but that's a different matter with regards what they are allowed to do by their ads supplier.

I'm sorry to say it but people can't consider something has sold until the money is in the bank, up until that point it hasn't sold. Yes there is maybe a contract to trade, but it hasn't sold.

All the best
GW

 

[squash247]

i have sold a couple of domains through sedo....but they take absolutely forever and you have to do all the work....they don't seem to contact the buyer or send any of the correct information....to be honest i don't think they are set up to deal with .co.uk domains.

Its always better to sell direct in my opinion but if the buyers come through sedo theres little you can do.

All the best

 

[grantw]

You will get timewasters wherever you sell your domains, the problem is that by going through a third party you are losing control of the situation and are sometimes left waiting months with poor communication. Sell them yourself - if the buyer ignores your emails for payment you know instantly it's a no deal without waiting around like a spare part!

Grant

 

[retired_member12]

Some Sedo bashing taking place again. I myself have purchased through Sedo, and was guilty of not paying promptly. Nevertheless, i found them to be quite fair and reasonable about chasing things up, and doing what they could to smooth the transfer process through. Below is a brief of what happened, and when you consider how little commission they stood to get out of it on a $100 transaction, I'd say they were very good.

22 May 2008- Your recent offer of $??? for ??? has met the seller's reserve and the seller has decided to hold a public auction for the domain. Your offer of $??? will be used as the starting bid and reserve price. If the seller does not receive a higher offer during the auction period your offer of $???, which remains binding for seven days from your initial offer, will be accepted for sale. (No bids were made).

28 May 2008- (Email)- Agreement reached. Please send us your payment for the domain. The payment request for this sale can be found here: (Payment Request). As soon as your payment reaches our escrow account we will inform you and the technical transfer can begin.

5 June 2008- (Email)- Payment reminder for Order # ???????. Thank you for your order from 28 May 2008. Unfortunately, our records show that you have not yet paid the balance on your invoice. We ask that you please make the payment within the next five days.

15 June 2008- (Email)- R E M I N D E R for Order # ???????. Unfortunately we have yet to receive your payment for your order from 28 May 2008. Please pay the balance from the following Payment Request within the next five days.

18 June 2008- (Email 1)- We have received full payment for this domain. Please await further instructions from your transfer agent. It is often the case that we have to go through certain preliminary stages with the seller in order to prepare the domain for transfer, so please be patient during this period.

18 June 2008- (Email 2)- In order to facilitate this transfer we have requested that the seller push the domain into our account at his registrar. Once the domain is in our account we shall unlock it and instruct you to put in a transfer request so that we can authorize it.

23 June 2008- (Email)- The seller of the domain has pushed the domain into our account. We shall now prepare the domain for transfer, and inform you when you can put in your transfer request. Do not start the transfer until you receive our email.

24 June 2008- (Email)- In order to expedite this transfer I have created an account for you at the seller’s registrar, GoDaddy. The domain has been pushed there. Please note your following login information. ID: ??????, PW: ??????. For security purposes, please change this password as soon as you have logged in. Thank you for working with us and please feel free to contact me with any additional questions or concerns that you might have.

25 June 2008- (Email)- This transfer has been successfully completed!

If i had decided not to pay up, it would have been me at fault, not Sedo. Unfortunately, it easier to publically bash them than the buyer!

 

[ships]

It's not about wanting to publically bash Sedo. I just think that as Sedo offer to act as a third party in buying and selling and it is a market place that they are not doing the job well.
If you state that a contract is "legally binding" then that's what it should be. Its not my job to chase a buyer for non payment,its Sedo's job.
On a slightly different note,I have had numerous sales go through with Sedo,however,rarely smoothly.They used to always be chasing me for paperwork that I had alreay faxed.The last transaction that went through was a joke.They released the money to me and then came back saying they had not got the transfer forms,(which I had faxed 2 months prior) if I had felt like it,I could of done nothing and the buyer would not of got the transfer without a major headache.The funds should not of been released to me until the transfer papers were in place.
Anyway,I just think they should pull their finger out,so that it does what it says on the tin.

 

[Alex-Z]

they don't seem to contact the buyer

is that true?

 

[sedo]

Hi Everybody,

they don't seem to contact the buyer or send any of the correct information....to be honest i don't think they are set up to deal with .co.uk domains.

First of all, I can categorically state that we DO contact buyers and sellers during a transfer. Now the system for co.uk transfers have changed, they are starting go through extremely quickly. I can't comment on Ships' individual case as I am not sure what it was (feel free to PM me the name if you would like me to have a look at it).

As far as non-payment and 'legally binding contracts' go, I can't really say a lot that I haven't said on numerous other threads. As always, feel free to contact me directly if you have any problems or feel you are not being kept in the loop by your transfer agent.

Regards,

Shaun

[email protected]

 

[zytec]

Hi Shaun, perhaps you can give us some input on one of you own cases that is still pending please??

I can say for me so far Sedo has been a complete waste of time, while this may not be Sedo, or Sedo's staffs fault, it's clear the system is just not workable due to the amount of idiots that bid with absolutely no intention of buying.

My case is one of yours Shaun so you should have all the details. Initially zfz.com received a bid of 6,300 usd and was auctioned raising to 10,100 usd at end with about 15 bids, (from memory) .

After waiting ages and having to ask for updates it was finally cancelled,

I re-listed it and a bid of 7000 usd came soon so I re-auctioned. Suspiciously I received no other bids at all but towards the end received an email that stated my auction had received another bid. I can only concluded the original bidder placed a higher bid to ensure he won it as it stayed at and sold for 7000 usd, no other bids showing.

This to me seemed extremely suspicious no bids this time compared to 15 the first time, along with this ghost bid that didn't show up. No problem I thought at least it has sold to someone that wants it this time...

WRONG almost a month on and still no payment again!!. The worst part is lack of information, who was the original bidder? were they blocked from bidding after failing to pay for winning my domain? if not why not? how do I know they haven't bid again just to waste my time? Why can't other bidders be given a 2nd chance offer when the winning bidder fails to pay within 10 days?......... so many questions, so little information...

Also there is no reason it needs to take so long, when I bought this domain name it was completed in less than a working week. if buyers and sellers had to commit 100 usd (or 10% for lower value auctions) for every bid it would cut the time wasters, but my guess the figures would not look so good...

For instance... Sedo sells 10,000 domains a month looks good...... doesn't look so good when the small print reads 9,500 ended months later in no actual payment though.....

 

[sedo]

Hello Zytec,

First of all, I can confirm the buyer this time around is not the same as the one from the first transfer - that person's account was suspended following the cancellation of the transfer. In terms of the current transfer, I will send you an e-mail about it once I have finished writing this post. I did send you an e-mail about this at the end of last week - did you not receive this?

In any case, if the winning bidder doesn't pay for a domain, it is possible for us to contact the second highest bidder and ask them if they want to buy the domain, but we don't do it automatically, because not every seller wants us to do that. If you would like that to happen, please contact your transfer agent.

For instance... Sedo sells 10,000 domains a month looks good...... doesn't look so good when the small print reads 9,500 ended months later in no actual payment though.....

I posted yesterday that at the moment, we have a cancellation rate of about 15%.

Regards,

Shaun

[email protected]

 

[paulc]

It would be better if Sedo could put something in place to stop all of these non paying buyers, as the problem seems to be on quite a large scale.

I have had two sales fall through in the past 4 weeks.

 

[Takwa]

Sedo frying pan cooking here

They do make buyers register their credit cards for high bids, but still it can't force a payment or doesn't stop them doing charge back like for my case.

Can't blame Sedo as it's down to too much stupid bidders, but you would think the high commission you would get better protected won't you?

 

[retired_member12]

Having bid for a trading name of mine from a seller, to see the bid be acceptable to him, but he then used it to start an auction i found very irritating. It was part of the reason i delayed paying him, because in the real world no one usually buys things like this.

If Sedo had an option for the bidder to make the offer conditional than no Dutch Auction is allowed or encouraged, then it may actually help seal a few more deals.

Out of interest Shaun, what are the percentages of:

1. Bids that sellers turn into auctions?

2. Auctions that actually trigger off more bidding?

 

[rob]

Just for the record - had one sale complete inside 4 days I think it is from bid to payment

 

[zytec]

Thanks for the quick reply Shaun:-

I did ask the question about 2nd chance offers on the previous auction

----------------------------------------------

----- Original Message -----
From: "BladeRunner" <[email protected]>
To: "Sedo :: Sxxx Opxxxx
Cc: "BladeRunner" <[email protected]>
Sent: Friday, July 04, 2008 12:50 AM
Subject: Re: zfz.com


> Thanks Sxxx, can you cancel this previous transaction please as I'm still
> unable to do anything with the domain as it stands now.
>
> Reason:- buyer failed to pay in allotted time.
>
> Do you have second chance offers to other bidders on auctions btw?
>
> regards jonathan

------------------------------------------------

...but you were away and it went to a colleague... i never received a reply to this question or details, so was not aware I could do this at the time (I did try to find info about this out on the Sedo site without luck)

I did get the recent e-mail thanks, but it was the standard one about being patient and chasing the buyer I'd had before with no further information.

I still question why the second auction had no bidders other than the one that didn't show? when the previous had 15 . Also why does the winner need, or rather be given the option to take over a month to pay? If you can't pay in 10 days.. end of IMHO, you shouldn't be bidding!!

At the end of the day i just want to sell my domain with the minimum of fuss, securely & quickly and I'd have thought Sedo would like the iro 1000$ commission asap too,

I'm not an unreasonable person, so I'll wait another week for his payment even though I'm still dubious about the 2nd auction

 

[zytec]

Just for the record - had one sale complete inside 4 days I think it is from bid to payment

There is no solid item to ship anywhere, so in a globally connected world there is really no reason why it should take as long as 4 days unless one or more parties are dragging their feet, with or without intent.........

 

[retired_member12]

I still question why the second auction had no bidders other than the one that didn't show? when the previous had 15...

Out of interest Zytec, was it actually stated that there were 15 separate bidders on the first auction?

In the past when i was looking to flog a previous trade name, I'm fairly sure that each time I & the single bidder engaged in multiple 'bidding & offering', each of his bids was listed in the sales history as separate offers!