Sedo offers $100,000 Reserve for Links.com on Great Domains Auction

[vikrantjain22]

I submitted a five letter dot com - category killer domain for Sedo Premium Auction . They wrote to me that domain quality was acceptable. However they wanted me to lower the reserve price to $999 (yes , Nine Hundred Ninty Nine Dollars) !!!

I decided not to waste my time responding.

Sedo GreatDomains is just a waste of time. I submitted a category killer product domain for the auctions which they duly rejected, saying it was not appropriate quality for the auctions and within a week I had sold the name to a buyer for $25K.
No defined rationale behind Sedo's name selection criteria.

 

[snicksnack]

for an auction the price has to be "low enough" to create a buzz, so that more people think they can get it cheap and when the bidding frenzy starts, they simply bid more than they had in mind. This is how most auctions work. If ou think they nobody is going to bid more than the reserve, a higher reserver wouldn't make sense in the first place, so simply don't enlist the domain.

 

[richrf]

Sedo GreatDomains is just a waste of time. I submitted a category killer product domain for the auctions which they duly rejected, saying it was not appropriate quality for the auctions and within a week I had sold the name to a buyer for $25K.
No defined rationale behind Sedo's name selection criteria.

Thanks vik, How did you end up selling it? Direct? Via another broker?

---------- Post added at 07:06 AM ---------- Previous post was at 07:05 AM ----------

for an auction the price has to be "low enough" to create a buzz, so that more people think they can get it cheap and when the bidding frenzy starts, they simply bid more than they had in mind. This is how most auctions work. If ou think they nobody is going to bid more than the reserve, a higher reserver wouldn't make sense in the first place, so simply don't enlist the domain.

Hi snicksnack. This makes sense except for one thing. The auction was imminent. Therefore, there was no time to get the word out so that there would be a good number of bidders. Then I run the risk that there may be just one. Does it make sense that I run the risk of selling Links.com for $100,000? I could see it if there was a big multi-month build-up. I guess the bottom line is whether Sedo is known for being a buyer's broker or a seller's broker? Who is the best seller's broker out there or is everyone working for the buyer (including possibly themselves)?

 

[Bionic]

SEDO will set a conservative price for a good chance of a sale, nothing wrong with that.

Ask for $150K reserve, but your chances of a sale will halve.

 

[richrf]

SEDO will set a conservative price for a good chance of a sale, nothing wrong with that.

Ask for $150K reserve, but your chances of a sale will halve.

Thanks Bionic. At this time I am not interested in selling it. I am more interest in the process suggested by Sedo. It seems to me to abrupt and without much thoughtfulness. Does anyone think that this is the appropriate way to sell a premium domain? If so why? If not, then why did Sedo suggest it. Are they trying to get it at a bargain price? For whom then? For another client? For themselves? I am just plum confused by their workmanship. Are they bush leaguers or is there some rhyme to their reason that I am just missing?

Rich

 

[Johnn]

This is the appraisal section. I am not sure why you posted here with no intention to sell it and all the discussions have been focused on how Sedo run the business?

 

[richrf]

This is the appraisal section. I am not sure why you posted here with no intention to sell it and all the discussions have been focused on how Sedo run the business?

Hi Johnn,

I couldn't agree more with your appraisal. My question (if you look at the first post) was originally in the General Discussion forum. For some reason, it was moved here. I have no idea why but I just go with the flow.

Rich

 

[richrf]

Hi all,

Thinking about the whole domain brokering business, there doesn't seem to be any rules of ethics governing the business as there is in let's say the real estate business. For all I know, Sedo may have a buyer that is willing to give Sedo $100,000 if they can "broker" the name for $100,000. It seems like there is really no way to trust a broker in this business since they are not licensed and are not governed by any code of ethics. In which case, the broker will always be beholding to the guy with the cash. Am I mistaken? Is there a licensing and legal provisions governing brokering? If so, where can I find them? Without such set of laws which would allow me to sue an unscrupulous broker it would seem like using brokers is a naive notion.

Rich

 

[DTalk]

Does it make sense that I run the risk of selling Links.com for $100,000?

....Yet, Sedo has DEFY.COM listed in their Top Domains section for $350,000...


Go figure...:sigh2:

.

 

[richrf]

....Yet, Sedo has DEFY.COM listed in their Top Domains section for $350,000...


Go figure...:sigh2:

.

Thanks. I did not see that. I did try to get Links.com listed on Top Domains but never heard back from Sedo. Then they come back to me with this proposal to sell Links.com on very short notice with a low reserve? I am anything but a professional domainer. Are domain brokers governed by any rules of ethics that are governed by laws such as those that govern the behavior of real estate attorneys. Is it possible that Sedo is working for the buyer and is promised a bonus if they can deliver Links.com at a very low price before I launch my site? It just occurred to me that Sedo might be working entirely for itself (it knew that I had requested Top Domain status) or a favored buyer much to my detriment. Is this possible?

 

[richrf]

I was looking over the Sedo agreements and there didn't seem to be any verbiage that Sedo would work in the best interests of the seller or that Sedo would not take any payment from any buyer. Am I correct?

 

[myst woman]

What if Sedo wants to buy it?

 

[richrf]

What if Sedo wants to buy it?

Yes, this is the question. What rules govern the domain broker? If there are conflicts do they have to reveal them? Is Sedo working for themselves, another buyer, or for the Seller? I am looking for some sense of whether the brokerage agreement protects the seller at all and is it enforceable should Sedo clearly violate ethical or legal practices? Is there any legal standard for domain brokering (fiduciary duty) as there is in the real estate and financial industries (both of which are fairly unscrupulous as it is).

 

[Seraphim]

I submitted a five letter dot com - category killer domain for Sedo Premium Auction . They wrote to me that domain quality was acceptable. However they wanted me to lower the reserve price to $999 (yes , Nine Hundred Ninty Nine Dollars) !!!

I decided not to waste my time responding.

Yep, same here. Had a domain hit 20K on GreatDomains, however they would not allow me to list it for sale again, unless I lowered the reserve to $0. I no longer waste my time submitting domains to them.

 

[Biggie]

This is the appraisal section. I am not sure why you posted here with no intention to sell it and all the discussions have been focused on how Sedo run the business?

Hi Johnn,

I couldn't agree more with your appraisal. My question (if you look at the first post) was originally in the General Discussion forum. For some reason, it was moved here. I have no idea why but I just go with the flow.

Rich

this thread was originally posted in general discussion, but since it was about a specific domain which the OP owns and was asking questions about the domains value.... it was moved to the appraisal section.

however, as you (Johnn) pointed out, the OP has expressed that he is not interested in selling, yet keeps asking the same questions about Sedo....that only Sedo can answer.

so, i too am clueless as to why it was moved back here


maybe this thread should be focused on questions concerning Sedo's brokerage process, ethics, morality, and legal obligations.

so perhaps the best place is the Sedo section, where hopefully a Rep will respond and the domain name will be irrelevant.


imo...

 

[thejosh]

Please close this thread.

 

[denny007]

Please close this thread.

Why ? Is it bothering you ?
Wouldn;t simply not clicking on it do it for you ?

I never get these people "This should be forbidden/closed/banned because I don't like it so nobody should be able to see it"