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Buying and selling on SEDO sucks!

Discussion in 'Sedo' started by DigiNames, Apr 12, 2007.

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  1. DigiNames

    DigiNames DigiNames.com Exclusive Member

    Joined:
    Apr 11, 2005
    Location:
    Salt Lake City
    Local Time:
    5:06 AM
    I am completely frustrated with Sedo. I plan on canceling my account and dealing exclusively on DNForum and other industry forums...(I have had many negative experiences on Afternic as well...)

    First off, I have been on Sedo for 3 years or so, and I have been an active seller and buyer. I have attempted 13 transactions on the site, and ultimately I have only been able to complete 7 deals. The other 6 transactions were cancelled by Sedo. Each attempted transaction was in the $60-$XXXX range.

    Each transaction that was cancelled when I was the seller was because the buyer didn't pay or was not actually who they said they were. Each transaction that was cancelled when I was the Buyer was because the seller did not actually own the domain name listed (although I had already sent payment for the name before I became aware.)

    This is completely UNACCEPTABLE. I refuse to use a service that fails over 45% of the time! The Sedo "marketplace" is essentially a joke. (I have had 100% success buying and selling on DNForum, and I have done just as much business on this site.)

    Now, please understand that I am not going to level criticism without offering my own suggestions for the site to pull it's self together...

    1. Sedo needs to verify ownership of domains as they are listed...(Sure they have 6 million listed, but what if most are not actually listed by the true owners?)

    It seems like they already do this to some extent. I have listed names with there service and they were delayed for a couple of days when they had a question of ownership. I don't understand- when I bid on a name that's whois info is in the USA, and the person listing it on Sedo is in Argentina, why do they even let them list it, let alone have me pay for it and string me along for 7 days+? It is through escrow, so I don't lose my money, but what about all of my time and energy spent to secure the name. I never get it back.

    2. They need to verify bidders. Bidders must enter credit card information and have a "test hold" placed on there account for a dollar, just to test that the card is valid. Once they win, the total amount could be charged to the card. Also, the card information must match their address information provided.

    3. The Sedo site should indicate the buyer or seller's country. I would like it if I could select to deal with people in the US, Canada, and England. No offense meant to those in other countries, but every single one of my failed transactions came from a person in some different country. I just don't have the time or the patience, and there is no legal recourse if someone breaks the "contract" that we have entered.

    Also I can compare the seller's country with the one listed on the whois information. Each of my failed buying attempts happened when the person listing the name wasn't even in the same country as the person that actually owns the name.

    Just some of my feelings about Sedo, and I would be interested to hear the thoughts of others... On the upside, I have been able to acquire a couple of names for quite a bit below market value on Sedo, but it just doesn't seem worth it to me any more. I guess I am just done with them...

    Anybody else have feelings about the Sedo site? (I know...I am just begging for a response from the Mocus guys ;), I swear I will check it out...)

    Thank you for letting me vent.
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