Sedo Extends Buyer Certification to All Auctions
Monday, December 14th, 2009
Certification now required for all auctions.
Domain brokerage Sedo has extended its buyer certification requirement to bidders in all auctions. Previously, only bidders in special auction events (such as GreatDomains) were required to complete certification requirements.
Standard Certification, the lowest level of certification, is easy to obtain. You can provide a credit card, W-9, respond to a text message, or just sign a statement. This will allow you to bid on domain names up to 9,999 USD/EUR/GBP.
Premium Certification allows you to bid on domain names up to 99,999 USD/EUR/GBP. To qualify, you need to submit an application, a utility or similar statement, and a copy of your photo ID.
Big bidders will need to complete the Premium Plus Certification in order to place six figure bids. This requires completing an application, providing a bank statement or utility bill, a photo ID, and a 1,000 USD/EUR/GBP security deposit.
Sedo introduced its certification program back in 2006 after a number of bidders failed to pay. It sure would be nice if expired domain houses such as NameJet and Snapnames had similar programs. It instills confidence.
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Tags: sedo, sedo buyer certification
Sedo Extends Buyer Certification to All Auctions – http://tinyurl.com/y8ngcnv
RT @DomainNameWire: #domains Sedo Extends Buyer Certification to All Auctions http://bit.ly/4E5kbH
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Good idea.
Might get rid of some of the non-paying and shill bidders.
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The biggest shill bidders are inhouse