Ward.com went for $2999 ...... at first!

bulkcorn · Nov 8, 2013

According to DNJournal:

"At the opposite end of the spectrum, several readers sent us messages yesterday when our latest weekly domain sales report showed Sedo selling Ward.com for just $2,999. The common refrain was "Surely that is a mistake!" It certainly looked like one. In addition to being a one-word .com, Ward is one of the 100 most popular surnames in America (#66 to be exact according to one popular source). One would expect it to sell for many times the price it did.

None the less, Sedo confirmed that the seller listed it for $2,999 with a Buy It Now option that a lucky buyer quickly pounced on. The domain has already been received in Sedo's transfer account, so it looks like those "too good to be true" stories may not always turn out to be fiction. This could encourage more people to go through Sedo’s BIN listings frequently and thoroughly!

Update: "To good to be true" wins again! According to a reliable source Ward.com had been stolen from the owner - hence the cheap Buy It Now price on Sedo. Though Sedo held it briefly in their transfer account (according to the WhoIs record) it is now been returned to the rightful owner. So, this story has a sad ending for the buyer who thought they were going to get the bargain of a lifetime, but a happy one for the real domain owner. "

From: www.*dnjournal.*com/*archive/*lowdown/*2013/*dailyposts/*20131107.*htm

DomainMagnate · Nov 10, 2013

That's a sad story all around!

bulkcorn · Nov 10, 2013

Lucky Owner! :lol: :lol:

What amazes me is what drives people to steal something they could never hide anywhere!!

Edwin · Nov 10, 2013

bulkcorn said:
What amazes me is what drives people to steal something they could never hide anywhere!!

They don't have to hide it long term, they just have to keep hold of it long enough to get paid via a dodgy bank account and withdraw the money. There are plenty of people who will bite your arm off for a too good to be true deal so it's possible to get a sale closed very quickly.

DomainMagnate · Nov 12, 2013

Edwin said:
They don't have to hide it long term, they just have to keep hold of it long enough to get paid via a dodgy bank account and withdraw the money. There are plenty of people who will bite your arm off for a too good to be true deal so it's possible to get a sale closed very quickly.

Yea my guess is, unfortunately, most of these thieves manage to make some money of those stolen domains.

peter_w · Nov 12, 2013

Who loses out if the sale of stolen domains does complete?

The buyer? The broker? Or the person who had the domain stolen?

Obviously if you buy a car that turns out to be stolen, it's generally speaking you as buyer who would lose out. Unless it was bought from a reputable garage (broker)... Though that's near impossible given the checks a reputable garage would do.

But is it the same story with a domain? In this case, would it have been sedo's responsibility to refund the buyer and return the name?

bulkcorn · Nov 13, 2013

peter_w said:
Who loses out if the sale of stolen domains does complete?

The buyer? The broker? Or the person who had the domain stolen?

Obviously if you buy a car that turns out to be stolen, it's generally speaking you as buyer who would lose out. Unless it was bought from a reputable garage (broker)... Though that's near impossible given the checks a reputable garage would do.

But is it the same story with a domain? In this case, would it have been sedo's responsibility to refund the buyer and return the name?

I suppose it'd only be fair for Sedo to refund the buyer. Whether it is the practice, I am not sure. They might just give you the details of the fraudulent seller and the account the money went to for you to chase, if the Data Protection Act and any other laws 'allow' them.

Edwin · Nov 13, 2013

bulkcorn said:
I suppose it'd only be fair for Sedo to refund the buyer. Whether it is the practice, I am not sure. They might just give you the details of the fraudulent seller and the account the money went to for you to chase, if the Data Protection Act and any other laws 'allow' them.

AFAIK Sedo will never, ever put themselves in a situation where they are out of pocket on a deal (the most they will give up is their commission). They don't explicitly warrant the legitimacy of any buyer or seller, so they're not going to be refunding anyone if the money's gone.