Recently I sold my first domain name at Sedo. Sedo is a well known domain broker and is active in the domain business for more than 5 years. They have experience with all kind of domains. The well known .com & .net domains but also the more unknown extensions like .it or .pk. It gave me a great feeling when I sold my first domain and got the money in my bank account. I will give you an article about the process I went trough.
First you have to sign up with Sedo. When you are logged in you are only 1 click away to add your domain. In ‘My Sedo’ you will find the text link ‘add Domains’ and you can add yours.
When you added your domain you have to change your nameservers of your domain. You have to log in at your registrars website. Click on DNS management and change the nameservers in: ns1.sedoparking.com and ns2.sedoparking.com. If you did this, the domain will be pointed forward to Sedo and you got your domain parked. At this point you can start making money from parking your domain while promoting it for the sale.
If you promoted your domain well, or just got an interesting buyer and the potential buyer made an offer on your domain, you have 3 options.
Accept the offer immediately
Make a counter offer
Take it to auction
Accept the offer immediately: This is something you should only do if you think the offer is to high for your domain. For example: if you have an offer of $ 1,000 for the domain: my-dog-spikey.com you should immediately accept it and run with the money :).
Make a counter offer: If someone makes an offer on your domain he will most likely not bid the full price he is willing to pay, but maybe 50% of it. Maybe he is trying to get it cheap, you don’t know. But what you do know is that the person who made the offer is a potential buyer, and he wants the domain name. He might be willing to pay more than the offer he first made. It is risky to make a counter offer. If it is to high, you might scare the potential buyer and will loose him.
Take it to auction: You got an offer and you are satisfied with it. Than you can also take it to auction instead of accept the offer immediately. Now your domain name will be on auction for 7 days. In this period other people can make an higher offer for the domain. You have a chance to sell your domain for even more.
The next stage: Your auction has ended, or you accepted the offer that was made on your domain. You and the buyer of your domain have now agreed to a legally binding contract for the sale. You (and the buyer) agreed to this while signing up with Sedo.
Now Sedo’s transfer team will assist you with the transfer. The will send a request for the payment to the buyer and the buyer has to pay within 10 days. When the payment is successfully received by Sedo, you will get a request to transfer the domain. You will have to go to your registrars website and request a AUTH code (authorization code required for a transfer of a domain). Also unlock the domain. Then send the AUTH code to the Sedo transfer team, and they are sending it to the buyer. Now the buyer can begin the transfer of the domain to his registrar.
This seems hard to do, but the Sedo’s transfer team assists you very good, and if you have questions you can always email them.
The transfer of the domain to the buyer’s registrar can take up to 2 weeks. When it is finished, Sedo will send you the money. They can receive the money at PayPal, but also with bankwire or with a check. It is what you choose.
Now the transfer and the money is on its place and you successfully closed the deal.
I hope you have a good idea of the whole process you have to go through when you sell a domain name on Sedo.