What Should We Do About Non-Paying Buyers? – Domain Magnate

What Should We Do About Non-Paying Buyers?

      6 Comments on What Should We Do About Non-Paying Buyers? ,    

This happened with me yesterday. One of the not so nice sides of domaining. In short: a member blue777 was asking for cvcv.com domains to buy and I pmed him a list of my names, including hace.com which is a great cvcv.com domain with many meanings and over 100 million results in google, asking him to make his best offer and if I like it I might accept, so he offered $3,000 for hace.com and I accepted it. But a few hours later he replied withdrawing his offer.

It’s not the first time it happened to me, domainers face this kind of thing frequently. Usually however from “end users” or other newbie domainers. In most cases it’s ignored, sometimes people would post/complain about it, or leave a negative itrader. But the fact that it was an established member who’s been around DNF for years and had many itraders, as well as the fact that he felt he could retract his offer (even after it was accepted) as easily as he could make one made me post about this.

Have you encountered this kind of behavior, what’s your opinion on the matter? What should we do in such cases?

6 Replies to “What Should We Do About Non-Paying Buyers?”

  1. $3000 isn’t much of loss. If this is such a massive deal then you aren’t much of a magnate, more of a cheapskate… fucking domainer! Get the fuck out of the market!

  2. This has happened to me several times at Sedo. I win the auction, the seller reneges, sedo asks the seller to complete the deal. They don’t, I waste my time tracking and bidding on the domains.

    Sedo and others should have penalties $$$ built in so if a seller or buyer reneges they are charged a significant penalty for non-performance.

    Skids need to be weeded out. What about a hall of shame for offenders? Same thing goes for programmers that promise to deliver and don’t.

    Cheers

    ps.. Davide Lye, put down the crack pipe.

  3. It’s crappy but not much you can do. Hard to force someone to pay for a sale on a forum, or anywhere for that matter. I wouldn’t spend too much time worrying about it, better to move on to more productive things.

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