Sedo: Deadbeat bidder solution!

[WeBuyThe.Com]

Why doesn't sedo require a deposit say 10% via creditcard as soon as a potential buyer wins an auction? If the buyer walks atleast we get something for wasting 4 weeks of time. Waiting for payment on 2 names that closed weeks ago.

[Acro]

Good luck with that. sedo does not even enforce their own rule of claiming payment for their 10% cut from the party that broke the transaction rules!
See my thread at http://www.dnforum.com/f129/its-all-about-benjamins-thread-208407.html

[Rockefeller]

I've won 7 domains through sedo in the past week and paid instantly though its still saying unpaid..

Maybe this is just them. No contact from them since payment either.

[Acro]

Indeed they verify payments "by hand" and not when you get that receipt for payment. I wonder if sedo is closed Monday due to "President's Day".

[Rockefeller]

Am i able to call sedo and ask them to verify my payment? If anyone knows...

[Acro]

You have more chances calling 911.

[Focus]

it takes a few days for the status to say paid dude..no worries

[Gerry]

Am i able to call sedo and ask them to verify my payment? If anyone knows...

If you did this before the weekend (like thursday or friday), forget it. You'll see a confirmation Monday at the earliest.

If the email has the name Erich Mueller on it, call your rep and ask that someone else handle your account and transfer PRONTO! Such a waste!

Here is my most current transaction that he is MIS handling. Still waiting on the domain!
--------------------------------------

01/18/07 Agreement reached

01/19/07 Please send us your payment for the domain. The invoice for this sale can be found here:Invoice As soon as your payment reaches our escrow account we will inform you and the technical transfer can begin.

Here's the part I like: payment was made immediately after the auction on the 18th but, computers and automated systems take weekends off. Four days later I get confirmation.

01/22/07 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.

01/23/07 The domain is now unlocked.

01/26/07 This domain requires an authorization code (AUTH-Code) in order to be transferred. We have asked the seller for the code and will send it to you as soon as possible.

01/29/07 2. Reminder: This domain requires an authorization code (AUTH-Code) in order to be transferred. We have asked the seller for the code and will send it to you as soon as possible.

02/14/07 We have received the AUTH code from the seller. The AUTH code is: xxxxxxxxxx

02/14/07 Please start the transfer request at your registrar.
---------------------------------------

Please notice the date the domain was won and today's date. I have raised hell about this.

NOT ONCE did he even bother to update me on any of this. It was only after going into my account did I find any of this information. I had to call him once I my account rep got back in town in put me in touch with him.

He told me the delay was the seller being in Austrailia and not responding. This was not true to the best of my knowledge. I sent him the WHOIS info and nothing about it was Austrailia. So lame.

I guess the domain is out there, somewhere, in cyber space, looking to squat in my Moniker account someday.

You may want to look at your sedo account, click on TRANSACTIONS and click on each domain name won and see if the status reflects payment made. Like I said, if it was Thursday or Friday when payment was made, you'll be waiting for confirmation until at least Monday.

The subtitle of this thread should be Deadbeat Sedo Rep Solution.

Pathetic.

[PRED]

Yep, i agree.
I've been to the top on this one.
I had a low $xx,xxx deal gone west.
Remember rental.info (£10k no less)I had a bad feeling the buyer hadn't paid within a week & i was chasing the sedo rep (as ever) from day one.
He assured me the buyer was waiting on a couple of sales of his before paying. I accepted this & on it went.
Anyway it ends up this buyer (who i won't name , yet) is a known buyer to sedo & had done purchases & sales through them.
Basically if we're not safe with a buyer like that, then we're screwed with a newbie.
Sedo MUST take i say 20% immediately from their credit card the second the deal goes. They have their own escrow so it's safe.
After much chasing they cancelled. A bog standard email, no call. I had to get the name & address from the contract.
A member on here , very kindly salvaged an email address & confirmed the details.
I sent an email threatening legal action etc
Well, nothing. F*ck knows why people play these games.
I contacted sedo & asked them to send a legal letter, they said their last reminder is all they do but would be interested to see how i got on & would provide any info i needed! Cheeky gits! I'll fight their battles for them
I have had to weigh up what to do. I'm in the UK, the 'buyer' is in Germany.
I have wasted a month on this when i was only selling as needed cash. It has been gutting. The cash would have really sorted me out at present.
If i sue the bloke, i have no experience of it & it could go on for months or even bloody years & ties the name up. I won't be able to sell or develop & had a large company sniffing round it too.
So basically the only thing that happened, & thinking about it is , the buyer got his account suspended. Sickening.
I would rather sell on here than use sedo at present. They need to wise up.
Also most of their brokers are not up to it. The guy you mention circa is a prime example.
I'm just having a chat with namedrive at moment about moving the lot over there tbh.
Sad thing is, i have had some good sales with sedo but a nonpaying buyer rate of about 20% is staggering. It winds you up for the weeks you are waiting too.
What you got to say sedo??
Predator

[Gerry]

I do not understand verifying buyers with a credit card if that is the only function it serves...a formality!

You haven't verified jack! Impose a penalty and automatic bill if the buyer backs out of the deal. This is done in many EULA's.

sedo does not make squat off of buyers. It is the SELLERS that sedo makes money off of.

HELLO. SEDO, are you reading this?
Why are you protecting buyers in sour deals?

[katherine]

Why doesn't sedo require a deposit say 10% via creditcard as soon as a potential buyer wins an auction? If the buyer walks atleast we get something for wasting 4 weeks of time. Waiting for payment on 2 names that closed weeks ago.

Not everybody has got a credit card

[Wot]

Indeed they verify payments "by hand" and not when you get that receipt for payment. I wonder if sedo is closed Monday due to "President's Day".

Or Chinese New Year

[Gerry]

Or Chinese New Year

[namestrands]

You recall my situation a few weeks ago. Unlike you I managed to convince the buyer that it was in their best interest to go through with the deal.

They are a big company it turns out, what's more suprising, speaking to the CEO of this company he confirmed that sedo DID NOT CANCEL HIS ACCOUNT

His reason for not paying via sedo "We never heard back from SEDO"

Seems to be a common trend for sedo. Granted this was only a $XXXX sale, so perhaps it just does not register with the transfer agents, they probably spend most of their time chasing the big sales and forget about the little ones.

incompetence, does not even begin to describe the staff at sedo.

Yep, i agree.
I've been to the top on this one.
I had a low $xx,xxx deal gone west.
Remember rental.info (£10k no less)I had a bad feeling the buyer hadn't paid within a week & i was chasing the sedo rep (as ever) from day one.
He assured me the buyer was waiting on a couple of sales of his before paying. I accepted this & on it went.
Anyway it ends up this buyer (who i won't name , yet) is a known buyer to sedo & had done purchases & sales through them.
Basically if we're not safe with a buyer like that, then we're screwed with a newbie.
Sedo MUST take i say 20% immediately from their credit card the second the deal goes. They have their own escrow so it's safe.
After much chasing they cancelled. A bog standard email, no call. I had to get the name & address from the contract.
A member on here , very kindly salvaged an email address & confirmed the details.
I sent an email threatening legal action etc
Well, nothing. F*ck knows why people play these games.
I contacted sedo & asked them to send a legal letter, they said their last reminder is all they do but would be interested to see how i got on & would provide any info i needed! Cheeky gits! I'll fight their battles for them
I have had to weigh up what to do. I'm in the UK, the 'buyer' is in Germany.
I have wasted a month on this when i was only selling as needed cash. It has been gutting. The cash would have really sorted me out at present.
If i sue the bloke, i have no experience of it & it could go on for months or even bloody years & ties the name up. I won't be able to sell or develop & had a large company sniffing round it too.
So basically the only thing that happened, & thinking about it is , the buyer got his account suspended. Sickening.
I would rather sell on here than use sedo at present. They need to wise up.
Also most of their brokers are not up to it. The guy you mention circa is a prime example.
I'm just having a chat with namedrive at moment about moving the lot over there tbh.
Sad thing is, i have had some good sales with sedo but a nonpaying buyer rate of about 20% is staggering. It winds you up for the weeks you are waiting too.
What you got to say sedo??
Predator

[Gerry]

His reason for not paying via SEDO "We never heard back from SEDO"

This is exactly what I brought to the attention of Sedo just a couple of weeks or so ago.

Now you have confirmed what I suspected!

-----------------------------------------------------
> At 04:48 PM 2/1/2007, you wrote:
>> What these two domains have in common is not once has anyone from customer service contacted me to respond to any of my inquiries.
>>
>> PALS.INFO
>> 11/22/06 Agreement reached
>> 11/22/06 We have invoiced the buyer for the sale of your domain. As soon as the payment reaches our escrow account we will inform you and begin the technical transfer.
>> 11/27/06 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 wait for certain details from the buyer so please be patient during this period.
>> 12/28/06 The domain has been successfully pushed to our Sedo account. We shall now process your payment. Your part in this transfer is now complete, and we shall assist the buyer in taking control of the domain. Once the buyer has control of the domain, the listing will be deleted from your Sedo account.
>> 12/29/06 The payment has been released and the transfer is now complete.
>> 12/29/06 This transfer has been successfully completed!
>>
>> The above is how long it for me to get paid for a sale. Well more than a month since payment was made.
>>
>> UPZ.NET
>> 01/18/07 Agreement reached
>> 01/19/07 Please send us your payment for the domain. The invoice for this sale can be found here:
>> Invoice
>> As soon as your payment reaches our escrow account we will inform you and the technical transfer can begin.
>> 01/22/07 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.
>> 01/23/07 The domain is now unlocked.
>> 01/26/07 This domain requires an authorization code (AUTH-Code) in order to be transferred. We have asked the seller for the code and will send it to you as soon as possible.
>> 01/29/07 2. Reminder: This domain requires an authorization code (AUTH-Code) in order to be transferred. We have asked the seller for the code and will send it to you as soon as possible.
>>
>> Regarding UPZ.NET, I still have not been contacted by this mysterious Erich. Again, I only get updates by going into my account and looking to see if there is an update. Going on two weeks now.If he is not contacting and updating me, is he contacting and updating the other party?
>>
>> Customer service is now near none existent.
>>
>> Gerry
[/FONT]
-------------------------------------------------------------
[FONT="Courier New"]> Hi Gerry,
>
> I've just returned from the LA conference. Erich Mueller told me that he called you to follow-up as per my request. I'll speak with him again if there are still issues.
>
> Best Regards,
> --
> Eben G. Smith
> Director of Domain Parking: North America
> sedo.com :: One Broadway :: Cambridge, MA 02142
> tel 617-758-4269 :: fax 617-577-3983
> www.sedo.com :: eben@sedo.com
------------------------------------------------------------
My response to Eben regarding Erich calling me; just one simple sentence
-------------------------------------------------------------

Never a word, never a call, never a follow up, only one automated message on 1/22/07
-------------------------------------------------------------

No, there were no calls, no messages left. Incompetence reigns.

[Manolete]

Unpaying auction winners are bad not only for sellers but for bidders. I won an auction an the highest bidder disappeared. Now my bids and time are lost.

[WeBuyThe.Com]

Not everybody has got a credit card

If a credit card is not available potential bidders should be required to submit a deposit via paypal or mail a check for some amount of money to enable bidding on their account. The money would be kept in a reserve account and applied upon winning bid. Considering that some domain names sell for as much as houses these companies really need to tighten up their requirements to ensure that all parties involved in transactions are protected.

[Banned: NYdomainer]

C'mon guys,
you should accept sedo for what they are:

They are not that bad

[seeker]

Hey, I have had my share of problems with sedo.
your statemnt just goes beyond logic and enters the realm of an idiotic hyperbole.
DO you even read what you write????

[Acro]

Seeker, time to point Fuc*ers.biz to sedo.com