DomainTools Blog

A huge mistake happened at Sedo last week, they sold Boobtube.com for $41,688 in a very heated auction that last two weeks, but after it was all over and the dust was settled Sedo turned around and canceled the transaction because the seller didn’t really own it. Wow… That is shocking. A two week auction that got into 5 figures turned out to be fake. Venture beat covered this experience because one of the writers was actually bidding on the domain. Read the full article at Venture Beat.

We have noticed other problems at Sedo like how they do not clean up their inventory. They have domains listed for sale that are no longer really listed. For example Wet Paint.com has been listed for sale at Sedo for a long time even though the domain traded hands over two years ago. Sedo doesn’t proactively remove domains from its system so it is hard to tell what is for sale and what is not. I would buy Wetpaint.com for $70.00 like it says at Sedo but I think Ben Elowitz the CEO of WetPaint, Inc. would have a problem with that since they just closed a Series B round of financing of $9.5 million in January.

I just checked auctions at Sedo and I spotted vcharacter.com has a bidder at $100,000 right now! I have to say that is very fishy. That domain is not worth $100,000 so I do not believe that bidder is real. Something needs to happen over at Sedo. Trust is a big factor in online auctions and having reports point out that there are huge wholes in the biggest after market site makes our entire industry look bad.