advice Sold 3L Domain on SEDO for 6 digit USD - Buyer not willing to pay

[zotix]

Dear Community,

I sold a Domain at SEDO.com for a total amount, which is near the mid-6-digit range.
I received the Offer and accepted it. There was no Typo from the Buyer or anything else he claimed.

After several Reminders from SEDO and some calls, the buyer asked to cancel the Transfer.
SEDO told him that this is not possible due to the contract, which is effective.
He just dropped the call, and SEDO is now canceling the internal Transfer Service.
I know that the contract is still valid, but unfortunately, SEDO is hiding behind its role as a platform.

Currently I'm more angry on the behavior of SEDO, than on the Buyer.
How is it possible, that SEDO has 3 different Certification Roles:

1. Buying up to 10k (Standard)
2. Buying up to 100k
3. Buying upwards 100k+

Where do they ask for bank statements, complete KYC, and all that stuff, and still there are IDIOTS like this buyer?
I read posts in other forums, where those things already happened in 2008.
It's totally ridiculous from a Platform that claims to be the "biggest premium domain platform" worldwide - and can not implement better controls or at least cooperate with the Seller.

Im pretty sure, If I would win the case, they would come and ask for the Provision.

I will not reveal the Domain Name, but I can say that I'm from Germany and the Buyer is from the United Kingdom.
I'm just asking them to provide me with all the Data they can give so that my lawyer can check the probability of winning or at least getting some money.
It's not even clear if this person is financially stable to pay such an amount.
Asking SEDO about ANY transactions that the buyer might have done in the past was declined due to data privacy. What the hell? It's just a "YES" or "NO," nothing that lets me know who the buyer might be.

I'm not sure how to deal with that situation.
Im in contact with 3 of the TOP lawyers in GER specializing in that field.

What is your experience with such transactions?
And why the hell is SEDO acting like this?

KR
zotix

 

[zotix]

Well i would not call it congratulations - but it was a learning I had, so yes - appreciated

thanks
zotix

 

[zotix]

Update​

After accepting that those kinds of fake bids are "usual" in the World of Domaining, I put the Domain at a similar price as "BIN" on SEDO again.
But this time, I used more figures to exclude why the customer made a mistake.
Just imagine that the BIN was not a flat number - it was something like 415,850€ (even Changing the currency from USD to EUR).

Guess what happened? This morning, around 5 a.m. CET, I received an Email stating that your Domain got sold via BIN.
After the experience, I could not even put a fake smile on my face.

I checked the Domain Transfer Control Area - Check, and the domain was sold.
I wrote to the Transfer Agent: I hope this time it's not a fake BID / BIN again.

After waking up - The transaction was canceled.
Now I had a Call with the Agent, she said something like: You can see the Name and Adress again.

Guess what? Same Buyer who already made the BID.

This time, he bought via BIN. I asked the Agent if she had already asked the Buyer. She said no because it's the same client, and the outcome might be the same. What the hell?
Why and how is that possible?
Why is SEDO management not capable of getting those people out of the Platform?

Im not disappointed; I feel fooled by you - the second time!
Especially since the Buyer, who did his KYC with a homeless Hostel, is still Certified to trade above 100k ($, £, €).


@Sedo @Sedo Broker UK

This can't be the reality.
As the transaction agent said, I should contact the SEDO security team for an explanation. Of course, I can do that, but is this your internal Guideline on protecting a secure platform?


zotix

 

[zotix]

Dear @Alfa Mod Team, could you kindly let me change the Thread title to:

Same Buyer, Same Practice - Sold 3L Domain on SEDO for 6-digit USD BIN - Transfer canceled again.​

I wanted to avoid a second Thread for the same Topic.
thx