- Joined
- Aug 9, 2008
- Posts
- 26
- Reaction score
- 1
Hi all,
Just thought i would post my two penny's worth
I had an issue trying to resolve two domain purchases that were dragging on for some time, almost three months. Shaun resolved both issues within two days! - Thanks Shaun - He really is holding the torch for them and proves that Sedo can perform when they want to.
As i see it (from the domain buying side) a delay can start thats outside sedos control:-
For example - In one purchase, i settled on a buy price of $5000 USD on a .co.uk domain. The buyer agreed and an email sent to me outside business hours on the Friday (day1) but i didnt see it until Monday at work (day 3) i got accounts to settle and payment was issued on the Friday (day7) the payment was sent via paypal who in turn sit on the money despite it being taken from our account that same day!. Payments over £500 settled by paypal are often settled by them by echeque! Paypal sat on the money for a further 14 days! they then confirmed settlement (day 21) and Sedo confirmed they were asking seller to start the process (day24). By the time all the nominet paperwork was done and resolved it was almost two months until conclusion of the deal. The paperwork issue for .co.uk domains is an absolute Royal pain and takes ages!
In the above example i as a buyer have moved fairly quick but from the sellers point of view by (day 21) they must have been thinking "is this buyer serious, 21 days now without confirmation, no sign of the money, have they pulled out etc" - This is not Sedo's fault.
I understand from Shaun, that on the nominet paperwork issue they can now conclude online with Nominet which speeds this side of the process up a treat - great news for future deals. However, they cant do a thing about paypal and if paypal sit on funds this will delay the final deal. Please domain sellers, take this into account.
One other thing, on the issue of buyers pulling out. Sedo will close accounts where buyers pull out on deals agreed without reason. But there can be reasons why a deal cant be done after agreement and sedo do have to look at this from both sides. I have purchased a lot of domains but In one example, having agreed a price i found out that the domain in question was a trade marked name that could have led to a WIPO being issued hence rendering the domain next to worthless and had to withdraw - i know this is an extream example but my point is that there can be genuine reasons for a withdrawal and sedo do have to take that into account.
Finally, also when offering a domain for sale its a good manners to decline an offer and say why, if its not good enough. You would be amazed at how many sellers just dont even reply if they dont like the opening offer. In some cases a buyer may have no idea what kind of price the seller wants or expects. Some sellers are also in cloud cookoo land regarding what they think their domain should fetch and can in some cases be sitting on a domain name they will never sell as a result!
Rich
Just thought i would post my two penny's worth
I had an issue trying to resolve two domain purchases that were dragging on for some time, almost three months. Shaun resolved both issues within two days! - Thanks Shaun - He really is holding the torch for them and proves that Sedo can perform when they want to.
As i see it (from the domain buying side) a delay can start thats outside sedos control:-
For example - In one purchase, i settled on a buy price of $5000 USD on a .co.uk domain. The buyer agreed and an email sent to me outside business hours on the Friday (day1) but i didnt see it until Monday at work (day 3) i got accounts to settle and payment was issued on the Friday (day7) the payment was sent via paypal who in turn sit on the money despite it being taken from our account that same day!. Payments over £500 settled by paypal are often settled by them by echeque! Paypal sat on the money for a further 14 days! they then confirmed settlement (day 21) and Sedo confirmed they were asking seller to start the process (day24). By the time all the nominet paperwork was done and resolved it was almost two months until conclusion of the deal. The paperwork issue for .co.uk domains is an absolute Royal pain and takes ages!
In the above example i as a buyer have moved fairly quick but from the sellers point of view by (day 21) they must have been thinking "is this buyer serious, 21 days now without confirmation, no sign of the money, have they pulled out etc" - This is not Sedo's fault.
I understand from Shaun, that on the nominet paperwork issue they can now conclude online with Nominet which speeds this side of the process up a treat - great news for future deals. However, they cant do a thing about paypal and if paypal sit on funds this will delay the final deal. Please domain sellers, take this into account.
One other thing, on the issue of buyers pulling out. Sedo will close accounts where buyers pull out on deals agreed without reason. But there can be reasons why a deal cant be done after agreement and sedo do have to look at this from both sides. I have purchased a lot of domains but In one example, having agreed a price i found out that the domain in question was a trade marked name that could have led to a WIPO being issued hence rendering the domain next to worthless and had to withdraw - i know this is an extream example but my point is that there can be genuine reasons for a withdrawal and sedo do have to take that into account.
Finally, also when offering a domain for sale its a good manners to decline an offer and say why, if its not good enough. You would be amazed at how many sellers just dont even reply if they dont like the opening offer. In some cases a buyer may have no idea what kind of price the seller wants or expects. Some sellers are also in cloud cookoo land regarding what they think their domain should fetch and can in some cases be sitting on a domain name they will never sell as a result!
Rich
