Reglikedomain industry desk

Sedo Introduces Authentication System

Following many complaints regarding incomplete deals, firm offers three-tier verification system.

Sedo sells a lot of domains, but many of the domain sales on its site are never completed. A number of people — counting readers of Reglike — have recommended that bidders be authenticated to cut down on bogus bidding.

Today Sedo introduced a three tier system for verification. Here’s how it works:

1. Tier 1 lets you bid on any domain under $10,000. You just have to provide a valid credit card.

2. Tier 2 lets you bid on any domain up to $99,999. It requires you to validate your email address, complete an application, and fax a copy of a government-issued ID and a recent bank or utility statement.

3. Tier 3 lets you bid on any domain. In addition to tier 2 requirements, you must make a $1,000 deposit via wire transfer.

I applaud Sedo for making this change. Now we’ll just have to wait to see if it ought to have been implemented ahead of the Pizza.com “sale”.

Also on the wire

Other reporting from the domain desk.

$Domain Sales$50,000 buyer of Snipes.com — SnipesShop.de wasHDomain SalesHands in $100k deal — Vegas.club changesSDomain SalesSale at Silent Auction — UB.com TopName nears 10,000 registrations — .Tokyo domainDomain SalesName nears 10,000 registrations — .Tokyo domainOn the GoDaddy NameFind auction — My thoughtsDomain SalesOn the GoDaddy NameFind auction — My thoughtsThumbs Up for BargainDomains.com — A BigDomain SalesThumbs Up for BargainDomains.com — A BigODomain SalesOught to I Set Minimum Offer Prices on Sedo?NDomain SalesName sells as part of $5 million deal — Sex.xxx domainA dozen end user domain sales counting .link and .meDomain SalesA dozen end user domain sales counting .link and .me