Offers on Afternic

H2FC · Dec 22, 2006

If a buyer makes an offer on afternic and then finds the name for sale some place else for less money is the offer he made on afternic a binding offer? I think it is but I want to be sure. thanks

Biggie · Dec 22, 2006

dmtalk said:
If a buyer makes an offer on afternic and then finds the name for sale some place else for less money is the offer he made on afternic a binding offer? I think it is but I want to be sure. thanks

did you make an offer at "some place else" where it was cheaper, and was that offer accepted by the seller, from that venue?

which offer was accepted first?

also was there a "post stamp" or date added "verifier", to establish the most current listing?

this other venue, do they also have "binding offer" contracts?

Rockefeller · Dec 22, 2006

biggedon said:
did you make an offer at "some place else" where it was cheaper, and was that offer accepted by the seller, from that venue?

which offer was accepted first?

also was there a "post stamp" or date added "verifier", to establish the most current listing?

this other venue, do they also have "binding offer" contracts?

This is a tough question. For a short answer I would say that the offer is binding. If you go to the store and buy something for $10.00 and return later that week to find it at $5.00 you realize that you could of had it cheaper if you would have waited or done some research. Since you just bought it without thinking about it you suffer the $5.00 loss and move on. The buyer should have looked for the domain if he wanted it cheaper prior to making the offer.

Creature · Dec 22, 2006

Rockefeller said:
If you go to the store and buy something for $10.00 and return later that week to find it at $5.00 you realize that you could of had it cheaper if you would have waited or done some research.

If you go to the car showroom and sign the contract to buy a car for $20k and on the way home you see that very same car advertised in the paper for $15k, you have every right to feel very pissed off. However, imo there is nothing that you can do other than ask nicely if the seller would match the lower price. The lower price could be months out of date.

H2FC · Dec 22, 2006

Just suppose I am the seller and I offer a name for sale on afternic for a certain price and then I find I have it listed someplace else for a lesser price. Suppose a buyer makes me an offer on afternic for more than I have it listed for sale in the other place. Now, if the buyer finds out (after he has made me an aftrnic offer and I have accepted his offer) the name is for sale for less money some place else does he have a right to withdraw his afternic offer and demand I sell it to him for the lesser price?

I don't think the buyer has a right to do that.....am I right? thanks for your answers.

Domagon · Dec 22, 2006

I'll let you in on an open-secret ...

Afternic, Sedo, Ebay, etc are basically advertising venues ... they rarely, if even ever, get involved with enforcing sales agreements...

And legally, it would potentially be very difficult / expensive for them to even do in many instances due to how they conduct business; little to no licensing, lack of diligence, neglecting following various procedures that traditional auction houses / brokers must legally follow in many jurisdictions, etc.

Bottom line is many buy / sell where it's most profitable with little to no regard to agreements of the venues its listed in.

Ron