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

1 year ago 31
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Good afternoon. First point to note is that I am not a Solicitor/Lawyer and this information should not be taken to imply that it is in any way legal advice.

In my past life I actually read the whole of the GDPR to get an understanding of the implications to my job at that time. I think that if the reason to find out the details of the third party is greater than the scope of the GDPR then the information can be disclosed i.e. in a court case. You will need to double check this as it may only apply in limited situations.

Second point I'd like to make is that perhaps if your original figure was $89,000 but the third party had meant to offer $60,000 but mis-typed it as $600,000 they may have become spooked once they realised what they had done. Maybe you could clarify this point with Sedo. There may still be a deal to be done.

I wish you well with your endeavors.

Kind regards,

Reddstagg

Dear @Reddstagg ,
Dear other users who have commented so far,

Thank you for your opinion on that topic. This answer is more or less for all of you, but since @Reddstagg mentioned an important point, I quoted his post.
I appreciate you all and your feedback on this!

To answer the question about GDPR:

According to the lawyers I have talked to, especially the one who will get the mandate from me, SEDO has to provide the data/details about the buyer. Even in the "Domain Transfer Service"-TOS, it's mentioned that they are disclosed from GDPR and are allowed to provide the Data for a court case. I assume they will give me the data. I have already discussed this with Sedo. My personal Transfer Agent for this Domain also said that they would not follow this case, which is - what I told ridiculous because they offer people like him a platform to annoy sellers.
So, this point is defined in the TOS of Sedo, and my lawyer confirmed it.
Probably, he is also on this Forum, thus I cant go more into details.

The second point related to the typo:

I discussed this as well with Sedo - and my Lawyer.
The thing is, In my fictive example of $89,000 (minimum bid), the argument of typing a "0" too much would only be understandable if the buyer had bid $890,000, which was not the case.
By this example, I just wanted to explain you, that the sum he has offered was starting with a whole different number, it was a flat sum between 200k to 500k.

Sedo: In the beginning, they told me they sometimes had those cases with typos. However, after having chats and calls with the buyer, he did not mention the sum in any of those conversations. Thus, he knows how much he truly bid.

My lawyer said: Since the sum, let's assume in our fictive case, would be a minimum of $89,000—it would be a typo; why did he bid $600,000? That's a different number, even though he meant to bid $60,000. I assume he could not even set this bid (technically) because the minimum bid would be $89,000. I hope that is understandable—as I said, I'm not a native speaker.

As of now, Sedo did not cancelled the Domain Transaction Service - probably also, because in Germany we have a holiday tomorrow, and I / my lawyer forced them to provide all necessary data to start with the lawsuit.

I'm not a greedy person at all. I'm a 31-year-old guy from an immigrant family from Pakistan. I live in Germany, work as a management consultant, and started my self-employment. I invested a lot and founded 3 brands.

This is probably a one-time "luck" in my life. I'm not experienced in Domaining since I've been in this business for about 1 to 2 years.
But I can tell you that this amount of money would push me to my other businesses and support my family. Therefore, I'm a bit emotional and angry towards Sedo because those things happen quite often.
In Germany people are very careful, they use insurances very often. That's the attitude here. I also have tons of insurance, including Manager's Insurance. Im not sure (I guess not) that it might capture the lawyer fees in the UK, but why do I need to go through these steps, especially on a platform that calls itself the "biggest premium domain platform"? It somehow makes me angry, and I will check this with my lawyer to see if there are things where SEDO probably did wrong Due diligence while allowing people to trade over 100k.

I'm not a materialistic guy. I don't care about Porsche or Rolex; I'm happy to be born and live in Germany because my parents made it happen. I just want fairness (and, of course, the money)—I would lie if I didn't mention it.

zotix

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