Back on May 22 we had a 2 million pound bid on Lifestyle.com at Sedo. That auction was later cancelled.
After seeing this and asking Sedo why a bid was cancelled? What about verification?
It turned out that when someone gets an offer and pushes to auction, there is no verification.
Chris from Sedo replied on Namepros:
Verification is only necessary when buyers want to make bids for more than 10k on domains listed in an auction. Buyers do not have the same restrictions when making offers on domains listed on the standard marketplace as Make Offer.
So now we have a $999,999 bid on OnionWebsite.com.
Tip of the cap to ecalc
What does this means folks?
Bri
It seems it’s a game played Brian, they don’t need verification on offers pushed to auction.
When people make bids they don’t intend on honoring – what do they get out of it? I guess some people bid large with hopes of coming up with the cash in time – and that falls through – but otherwise – I’d love to know what the allure of fake bids is.
Some people are just time wasters. They get a kick out of it as they have nothing better to do. Another form of trolling.
It is a rather ironic domain for this to happen to.
When you have a bid that is way higher than the domain can ever be worth and the owner sends it to auction instead of taking it on the spot, what does that say about the owner? it says to me the owner is un cahoots with the bidder.
Thanks for starting this discussion.
This series of bids has already been canceled. We do monitor this type of activity for validity and in this case we determined it needed to be deleted.
Thank you,
Team Sedo