This is a recent example of our experience selling a .co.uk domain name through Sedo If you are new to domains or Sedo, this will give you a guide to the process and timeframes involved.

talks

This is the hardest part of selling a domain: how much to ask?

Ask too much and the buyer may lose interest. Ask too little and you may not get the best possible price for your domain.

You can use http://www.domainprices.co.uk to get an idea of ​​recent .co.uk domain sales prices or request an appraisal at the [http://www.acorndomains.co.uk] evaluation forum

Propose a price that allows you some room to haggle, but don’t be so greedy that you scare off the bidder. This can be a time of anxiety, waiting for the domain prospect to come back with an offer.

transaction fees

Don’t forget to take Sedo transaction fees and Nominet transfer fees into account during the trading stage. We asked the buyer to pay Sedo’s fees (10% of the sale price) and Nominet’s fees in addition to the sale price, which they agreed to.

agreement reached

We started negotiations on our domain on June 21st and reached an agreement on the sale price and fees on July 1st.

Sedo transfer process

Having agreed on the sale price, Sedo sent the buyer an invoice on July 1. The invoice is in your name and is placed in the buyer’s user account. Once the buyer has made the payment (into Sedo’s escrow account), Sedo asks the buyer to make a transfer request with their registrar or, if the buyer has an account with the domain’s current registrar, asks you to transfer it to your account.

NB: Make sure your domain’s administrative email address is active and that you can receive emails from it or you will have problems with the transfer process.

Once the transfer is complete and the WHOIS information shows the buyer’s name, Sedo sends you the money.

Tip: Add your bank details to your Sedo account if you want to avoid Paypal fees for receiving the money.

Nominet Transfer Forms

Sedo did not ask us to apply the domain transfer forms to Nominet. Your emails are drafted for .COM domain name transfers.

We knew we would need them so as soon as we agreed on a price we emailed Nominet to request them and they arrived 2 days later.

This will save you time.

Sedo gets paid

We chased after Sedo on July 5 because we hadn’t heard anything. This led them to go after the buyer for payment. Sedo reported that the buyer said that they would make a wire transfer of the funds that day. We followed up again on July 7th with a reply from Sedo that it would take a few more days. So much for electronic fund transfers! Sedo confirmed receipt of the money on July 11.

Completion of the transfer

Sedo sent us the Buyer details for us to contact them about submitting the Nominet forms. We already had the forms in hand so we signed them and sent them on July 12th. On July 18 we followed up with Sedo for any updates, they contacted the buyer to see if they had received the forms. On July 22 we noticed that Nominet’s WHOIS was displaying buyer details.

(This is a bit unsettling, your domain has been transferred but you have no funds.)

Money money money

On July 26 we received an email from Sedo saying that they had sent the money to our account. They also indicated that this can take up to 7 business days. We received the money on July 29.

From start to finish, 38 days.