20 Responses to “My first DNS sale and non-paying buyers”

  1. Shane says:

    Mr. Steven Tyler,

    Just curious. Why do you need a broker on a $1500 sale. I understand the value of a broker but you seem plenty savvy enough to get $1500 out of a name.It’s the beauty of Internet Traffic. I know this isn’t the point of the story but I couldn’t get that out of my head as a read on.

    • Mark says:

      Hi Shane,

      I don’t but I like the broker that is handling my inquiries so I let him negotiate for me. No real reason though.

  2. johnny says:

    This happened to me two times, when I won auctions at namejet and snapnames. They had to make a call to validate my phone number or something, in both cases I couldn’t pick up the phone and in both cases the transaction was cancelled with no possibility to buy the domains.

  3. johnny says:

    and I should have added in my comment: soon bitcoin will replace these obsolete credit card companies, it will be much simpler!

  4. Francois says:

    You should consider using eCOP.com with your next DomainNameSales sale as we do not restrict Paypal payment to U.S. users only like Escrow.com, plus we are very flexible, if we need to create an account in a secondary processor payment for save a sale, we will do!

  5. Alan says:

    Credit card is not an option for many as there have been cases of domain hijacking by buyers disputing the charges
    made. Depending on the amount, all sellers should use due diligence.

  6. Tom says:

    I had this same issue with 2 buyers in Russia, very hard to move money out of that country, two sales total was $13k…

    I would assume escrow operating times did not work with the offshore client. I am fielding more offers coming out of Eastern Europe area, although our economies of scale do not always match, many of those guys outsource their services, so earn a decent US dollar wage, hence they can invest in quality .com’s. Don’t let them shake you for a fool.

  7. manos says:

    I also had problems as a buyer at sedo. I purchased a domain for $600. At the payment link there was not a button/icon for paypal or cc at all.
    I contacted support and after 4-5 uneducated persons did not even understand the problem, appeared a guy who enabled the 2 icons for me to pay. I lost about 10 days (pity for seller actually).
    This was the first phase.
    I tried to pay with cc, rejected, my card was 100% ok, i have real time ebanking and there was no transaction attempted. I contacted support and informed that i can not pay an amount > $500 with a credit card, need wire or paypal.
    Actually i do not like to bank wire due to fees and other reasons so i finally paid by paypal.
    It was a procedure of 15 days!!!
    At the next purchases i noticed that some times the payment buttons are there from the first minute, and some times i need to contact support or the transfer agent.
    Anyway, i can not understand these restrictions at sedo, it makes it really difficult for eastern europe and asian buyers to pay as in these areas of the world bank wires are difficult and paypal has limitations.
    For me the 2 major online payment methods after paypal in the upcoming years will be skrill (aka moneybookers), i have used them for more than 10 years and they are superb, also paysafecards.

  8. J says:

    I have four accepted offers at DNS right now that have stalled at the payment stage. A couple must be flakes b/c they have US addresses but at least one is stalled b/c escrow.com’s fees on a low dollar transaction. Like Mark says above I don’t need a broker on small transactions like this but the lead came through DNS and the system worked it to an agreed price so they deserve the commission even if it is rather small.

    I suggested maybe the buyer would be more comfortable with PayPal on such a small amount but the broker seemed to convince him of escrow.com’s merits and I soon received a notice to review the deal. I approved it and since then nothing. Oh well but it seems like more payment options are necessity.

    This is the ONE area where I think Sedo has the right idea. Their pseudo-escrow process is far easier, faster and actually much safer than escrow.com’s actual escrow (as long as you trust Sedo) since Sedo takes both payment and possession of the domain instead of being pushed or transfered directly from seller to buyer.

  9. manos says:

    J i think that Sedo is problematic with the restriction of $500 with credit cards. I never like to use bank wire for various reasons.
    As seller many sales that ended without payment, i put to other marketplaces where there are more payment options or no restrictions and paid fastly.
    If i was a marketplace owner for sure i would put many other payment options like skrill.com, payza, alipay, paysafecards. Why to restrict the transactions to 2-3 payment methods only.

    • J says:

      I would agree, they’re just trying to avoid fees and the customer experience is more important. It can lead to abandoned sales as evidenced here.

  10. BullS says:

    Mr. Steven Tyler

    Let me tell you how I closed the sale…

    I tell them to pay up if not I send my Bruno to clear the mucus our from your throat

    or

    I just fly to Thailand and have a good time with the gals and collect the money…all tax deductible.

  11. Joseph says:

    For the record, I’ve had several non-paying bidders at GoDaddy during the past 2-3 months. So non-payment is not confined to Sedo and DomainNameSales. I imagine it affects every platform. There are plenty of reasons the problem occurs. But you’ve brought one to light that should CERTAINLY be addressed. It’s in everybody’s interests to get that issue fixed — buyer’s, seller’s, market place’s … everybody’s.

  12. Yoko says:

    Suggestion from someone who handles the same situation every day: use Bitcoin.

    Anonymous, secure, instantaneous and commission free.

  13. Prashant says:

    Thanks mark for bringing such issue to light. can you provide domain selling site name other than sedo.

  14. Adi Weitzman says:

    Congrats on the first sale using Domain Name Sales. I have yet to make my first one and I did notice that as well. I’ve gotten some offers and was sure the sale would close but the buyer backed out in the last minute.

  15. Tasha says:

    Greetings Fellow Blogger, I am commenting from Geraldton Australia. We have had a lot of bushfires the last few weeks and I’ve only just been able to get on to the internet Thanks so much for the easy to read post. It inspired me a lot with my university internet research task. God Bless the internet !

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