How long should it take to...

[768768]

I sold a website last month via Sedo.

Sedo received payment on April 22.
The name was pushed and all site details given on April 26.
Today is May 5th and I still haven't rec'd payment from Sedo. I think that's plenty of time to credit payment to me.

Am I just being too antsy?

 

[mark]

yes. give it a little more time. remember sedo is closed on the weekends. congrats on your sale !

 

[namestrands]

I have noticed a decline in the SEDO sales support also. Lack of communication and of course time difference between - SEDO, buyer and seller is really causing problems.

I think they really need to take a step back and look at this process.

Their is no reason why SEDO should not pay out as soon as they have confirmation of transfer.. especially if you are being paid via Paypal.. and the dates you have given is more than enough time for a Wire Transfer..

And judging by the lack of response today, they must have a day off also.

The Domain Parking industry is going to be changing in the next few months after announcments at the ICANN conference that some of the big boys are getting in on the game, promises of $3.95 transfers and new registration to Parkers.. 75% profit share to 3000+ domain owners, and the ability to integrate your own Standard banners and SkyScrapers Banners into the page infrastructure, without eyesore frames.

The future is looking good for us...

I think what needs to be done is for SEDO to take control of the transfers themselves and then they can deal with the buyer(we push the domains into a SEDO account on respective registrar), meantime you have offloaded the domain and you have the cash in your account. The rest is up to SEDO that way they can earn their commission...

I hate to say this as SEDO have been good to me, likewise I have been good to them.. but as of late, I have not been impressed.

 

[Theo]

I can't complain about Sedo's sales methods - although I find the 10% steep.

From agreement to receipt of my check - including despatching of written contracts via overnight UPS - it was less than 2 weeks. See my thread at http://www.dnforum.com/showthread.php?t=92674

 

[Anthony Ng]

I just sold a domain at Sedo last week. It took less than 45 hours from the time I got my first offer e-mail (Apr 25, 1:34 PM) to getting PayPal's payment notification (Apr 27, 10:06 AM). Can't complain!

 

[Theo]

Paypal is convenient but not worth it when they take a cut of your money. Sedo issues checks and they arrive in 2 to 3 days.

 

[namestrands]

and then the Cheque sits in your bank 3 days clearing.. give me paypal or wire

 

[Domagon]

PayPal payments are reversable; account suspensions can happen any time for any reason ... for sizeable amounts it's often best to opt for wire.

Ron

 

[Theo]

and then the Cheque sits in your bank 3 days clearing.. give me paypal or wire

I'm not in need of Sedo's cash arriving fast; I've a full time job & also freelance.
The check has the benefit of no fees.

 

[768768]

Thank you, mark for the congrats and to everyone for the replies.

I still haven't received payment. I think namestrands eluded to the real problem. Sedo needs to take control of the transfers themselves.

As I understand it the problem is the buyer has yet to confirm the transfer. The name was pushed and all site details were provided almost 2 weeks ago yet the buyer has yet to confirm to Sedo. And Sedo won't pay me until the buyer does so.

How much time does Sedo allow the buyer? Two weeks is way more than enough time in my opinion. And what if the buyer never confirms?

 

[namestrands]

I still haven't received payment. I think namestrands eluded to the real problem. Sedo needs to take control of the transfers themselves.

Funny you should say that.. sedo have taken control of the name by me transferring it into SEDO's account. Now SEDO have issued payment and will take care of the rest of the transfer direct with the buyer

Now I dont know about you but that was above and beyond.. they did not need to do this.

So I take my hat off to SEDO and thank them, as waiting for the buyer, who in most cases do not transfer domains at the rates we do, would be somewhat futile and not in the best interests of the Team at the SEDOPLEX.. or me for that matter, because I am an impatient arrogant bastard

Thanks again SEDOPLEXERS

I'm not in need of Sedo's cash arriving fast; I've a full time job & also freelance.
The check has the benefit of no fees.

Again see note about me being impatient and arrogant

 

[mark]

Maybe SEDO will start opening accounts at all major registrars if they haven't done so already for quicker transfers. Excellent idea and this should help expedite the whole process...

 

[Theo]

Maybe SEDO will start opening accounts at all major registrars if they haven't done so already for quicker transfers. Excellent idea and this should help expedite the whole process...

Indeed they have - I recently pushed a domain to their Enom account.

 

[Yoshiki]

In my case, Sedo received payment on April 25 and my bank received
the fund from Sedo over a weekend on Monday, May 2.

Sedo received payment on April 22.
The name was pushed and all site details given on April 26.
Today is May 5th and I still haven't rec'd payment from Sedo. I think that's plenty of time to credit payment to me.

 

[768768]

Well, I received payment from Sedo today (via PayPal). Sedo received payment from buyer on April 22. A month later and I finally get it. The buyer evidently was putting off confirming the transfer.

That's just totally wrong and until Sedo changes their policies I will not sell another site or domain through them.

 

[namestrands]

This was hardly sedo's fault.. they have to be fair to both parties. We all agree that domains over a certain value should carry a deposit.

Its unfortunate that you had to waste so long, but in my experience (sold 100+) domains your case is an exception to the rule.. longest I have ever had to endure was 6 days.

We all have a bad experience with companies at least once.. SEDO also have to wait for their cash too and waste man hours chasing the guy who was holding back.

Stick in there, I am sure it would be all ok.. if the domain was of some value... speak to ed and see if he can do you a deal on a Featured listing.

Hey your wallet is a little heavier today.. look on the bright side.

 

[768768]

No, no, I don't blame Sedo. But it is their policies which allowed it. A month for the buyer to confirm... that's ridiculous and no reason for it. Nothing fair there.

And it really isn't about the money. Just mid $xxx. But it did point out to me one of the flaws in their system. I also have a domain there which I accepted an offer for over a month ago... still nothing.

Just frustrating and a time waste. Thanks for the encouragement.