Industry watchdogs? Sedo verification of buyers?

[bc0001]

Recent experience with sedo while selling a name, leads me to believe there is no industry oversight on auction sites/domain sellers who hold their services out as "secure". A "buyer" was allowed to bid over the 10K threshold (which is supposed to set off sedo certification process), with phoney credentials.

Does anyone have any experience with holding an auction house accountable for fraudulent or unauthorized bidding?

Thanks

[Theo]

Strange, I blogged about "TSA" style profiling of bidders just recently: http://acro.net/blog/

[Credit]

Theo is our industry watchdog

He catches the scammers.

[bc0001]

Strange, I blogged about "TSA" style profiling of bidders just recently: http://acro.net/blog/

Nice article. Unfortunately wishing the would improve isn't good enough - IMHO... On their site, they hold themselves out as having a fiduciary role protecting the seller - by indicating various requirements from buyers bidding over 10K. Not a lawyer, but I would imagine this would be an easy case to make.

I'm not so sure they are technically a US company though, are they?

Hey - thanks for the response. Good blog article.

[Gerry]

Nice article. Unfortunately wishing the would improve isn't good enough -

Your buyer most likely was certified/verified to bid in that price point.

Still, there is nothing to "force" the buyer to pay.

Honestly? I have lost count of the number of non-payment sales I have had to endure on sedo.

I have one right now from December 18th that has not been paid.

And doubtful it will be paid.

[Mike Cruz]

Your buyer most likely was certified/verified to bid in that price point.

Still, there is nothing to "force" the buyer to pay.

Honestly? I have lost count of the number of non-payment sales I have had to endure on sedo.

I have one right now from December 18th that has not been paid.

And doubtful it will be paid.

Same here, I have had a few over the past month or two... "Oh we cancelled the auction the second it ended because the winner was fraudulent" hrmm... so if he didn't win, you wouldn't of said anything?

I am trying to space my self with sedo more and more everyday, already moved out the majority of my domains from parking and spread them out for sale through varies places instead of just sedo. Makes sense to do so and should of done it a long time ago, makes all the sense in the world.

[Theo]

Also, long-drawn waiting periods for a payment that will not arrive, result in loss of PPC revenue until the transaction is canceled.

[Mike Cruz]

Also, long-drawn waiting periods for a payment that will not arrive, result in loss of PPC revenue until the transaction is canceled.

yeap. I waited over 2 weeks for payment that never came and I am sure I would have had to wait much longer if it was up to sedo, I had to demand several times that the transaction be cancelled after the 7th business day.

[Gerry]

Also, long-drawn waiting periods for a payment that will not arrive, result in loss of PPC revenue until the transaction is canceled.

Speaking of which, I finally got paid today for a sale that ended (and was paid on) November 26.

Yes, 11.26.09 paid today.

[Mike Cruz]

Thats just gross. Around that time, I also had a domain sold, the person paid for it within a few minutes of auction end and I didn't get paid til a week and a half later, even though I transferred and provided invoice all in that same day.

[jlc]

Just had this happen to me. Very disappointing.........

I thought they were getting better....not worse.

JLC

[Mark One]

Looks like this is happening to me too. 2 weeks since auction won and sedo asking me to be "patient".

[Banned: broe-foe]

Recent experience with sedo while selling a name, leads me to believe there is no industry oversight on auction sites/domain sellers who hold their services out as "secure". A "buyer" was allowed to bid over the 10K threshold (which is supposed to set off sedo certification process), with phoney credentials.

Does anyone have any experience with holding an auction house accountable for fraudulent or unauthorized bidding?

Thanks

I notice that over a month has gone by since your original post, and the lack of answers to your question should tell you all you need to know. The fact is that no one, including the domain "news" sites such as dnjournal.com, seem to hold auction houses "accountable" for fraudulent or shill-bidding. In fact dnjournal.com publishes auction results from an admitted fraudster, Snapnames, as though those auction results can be trusted as untainted by shill-bidding. There is no industry oversight. Buyer beware! Caveat emptor! If you participate with Sedo and give them your Social Security number, I consider you a sucker, due to the lack of oversight in this industry combined with the problem of identity theft. But that's just my opinion.

[denny007]

More burden there will be for buying doamins, more LEGITIMATE buyers you drive away. Isn't it better to face from time to time one phoney bidder (with no lost whatsoever) than drive lots of potential bidders away ? Yes it is. 1st scenario - no real lost, just little time. 2nd scenario - possible thousands or tens of thousands lost. I get on sedo like 10% non-paying bidders and that's OK with me. Because on the other hand I sell lots of crap there for $1K+ a pop, in average $15K a month.

[Tenkk]

do you list price for your domains? how to push to auction without bid?