Read this if your thinking of buying a domain for the asking price

[Nismo]

If a domain on Sedo has an asking price instead of just 'offer' and you meet the asking price it is still subject to acceptance from the seller.

Therefore there is nothing stopping the seller waiting out the 7 day timer then bumping up the price.

for example Joe Bloggs lists Domain.com for sale @ $1000 and gets a $1000 offer on the day he lists it. There is nothing stopping him thinking he could get more for the name seeing as someone is willing to pay the asking price so waits for 7 days then ups selling price to $2000.

 

[Jernet]

Had something similar happen myself. I bid the seller's asking price, but never got the domain or even heard a response. Sedo says seller doesn't have to sell for the asking price. My question then is.. why the hell even have an asking price?

 

[skylight]

probably the asking price is the minimum asking price?

 

[yesonline]

I think the asking price is only a minimum price the seller would consider of if he did not mark it as a fixed price for the price option. That is what I am doing most of my domains that I will list a price say $1000 and also choose the price option to "make offer", it means I would only consider the price above $1000, but not limited on $1000 only.

 

[seeker]

that is strange.
I thought one is bound by the asking price, thats why so many domains say 'make offer'.
If that isnt the case, I will start putting prices to test the waters...
doesnt make sense.


(for fixed price offers I mean)

 

[NameAlot.com]

Helpful thread... I used to always wonder about that.....

 

[guiwang]

Because there is no reserve price on SEDO.com ,so I think the ask price is the reserve price.
Right?
Bean

 

[Dale Hubbard]

I think those tactics are wrong. IMHO, you should accept a bid at your asking price otherwise it makes a mockery of the system. Nobody knows where they are with it all. You can't "have your cake and eat it" on a resale site like that. Just CONSIDER your asking price and stick to it. That's my 2c.

 

[seeker]

the problems isnt with the tactics. They are 'wrong'.
The problem, and I assume the question here is, why does the system allow this?

it shouldnt.

 

[skylight]

if the asking price is some sort of minimum reserve price, then it actually solves some problem. Many have complain of receiving lowball offers (including me). Now we can set a asking price, even if it met and we are not happy, just reject the offer.

But SEDO have to confirm that if we put up the asking price, we are not bound by the asking price and have the choice to reject even if asking price is met.

 

[seeker]

If you dont want a low ball offer, you set your price, and place what range you accept to start negotiations below that price, 10%, 25%..etc...
So If the price is met, it should be binding IMHO

 

[Jernet]

That's exactly what I'm talking about.

I have always used this strategy:

1. Find a domain or site I like that has an asking price
2. Make a lowball offer on it (usually 25% of the asking price)
3. Wait for the counter offer (almost always is a lower offer)
4. make another offer

Almost every time, I ended up getting it for 50-75% of the original asking price, leading me to assume that the asking price is basically like some sort of reserve or something.

Finally, this one time i just decide and go ahead and bid the asking price...and get nothing ;0(.....go figure!


Kind of like going to a car dealership and the salesman says " We are asking $20k for this car, but if you are interested, we can sell it to you for $25k!" :huh:

 

[Nismo]

the problems isnt with the tactics. They are 'wrong'.
The problem, and I assume the question here is, why does the system allow this?

it shouldnt.

I think the same. If you make any offer/ counter offer then you are legally bound to buy/sell at that price. Therefore if you set a fixed price for a domain you should also be legally bound to sell if someone meets that price - anything else makes a mockery of setting a fixed price.

 

[gogeorge]

Is this really a problem?

It seems like the market is still very soft and that sellers cannot just raise their price and continue to get offers.

I noticed that sellers are usually negotiating downward and lowering the price, not raising the price.

Many sellers are still hoping for the big money and market prices has gone lower.

That could change in the years to come.

 

[MGunnin]

Thats for the information.

 

[Theo]

I don't see what the problem is. The listed price is not a BUY NOW option. It's there to weed out low-ballers. The buyer has the right to accept or deny the offer.

 

[krisblade]

It's there to weed out low-ballers. The buyer has the right to accept or deny the offer.

Minimum Offer and Asking Price are different things :wink:

 

[Domagon]

An asking price can go higher in some instances ... an "ask" is only that, an "ask".

On a related topic, reportedly GreatDomains has occasionally rejected offers at the ask price and countered with a higher ask. While one can debate the eithics, some people would feel such action is argubly justified when more than one interested buyer comes forward at around the same time offering the ask - a good sales broker will do what it takes to get the best sale price possible for their client.

Until money changes hands, or at minimum a sales agreement has been signed by both parties, an "ask" price may fluctuate either down or up.

With all that said, until a sales transaction is completed, there's always a chance it can be reversed - and one's legal recourse is often quite limited. Sure one can file a lawsuit, but calculating damages can be prove troublesome - and even then, being awarded all the damages being sought is unlikely.

One strategy one could try is obtaining a court order to prevent the sale to any other party, but one would have to act quickly - and even then it's not certain a court would grant such a request anyways depending on the terms of the sale; jurisdiction issues could be troublesome.

In a nutshell, one should assume an "ask" price isn't final until the transaction has actually occurred - this is among why it's so important to quickly complete transactions.

Ron

 

[seeker]

on sedo, we are talking about the fixed asking price.
also, read their link which is there before you enter the domain, just before the final link to enter the offer.
Theoretically, you are bound.
but you can cheat the system obviously.