NamePros member frank-germany started a thread this morning that warned of trickery with some buyer’s that he’s experienced on NP and even Sedo. His post is as follows (copied with his permission)
“it looks to me like here are members who may try this trick:
get you into a deal
and then after its locked in
like agreed in escrow
or SOLD here
after getting you down as much as possible
then do not pay
and as the domain is locked for them
simply wait for the development of the ( chinese ) market
and later if market goes up
may eventually pay you then
and if not
they may simply just disapear”
So basically, you are selling a domain or maybe a portfolio of domains, the buyer negotiates to your bottom line price. Then they don’t pay right away. Perhaps days, weeks or even months later they resurface, send payment and expect to get the domains at that price. By then the market may have matured and profit would be realized almost immediately if the seller finishes the transaction. This could happen on many marketplaces that don’t have set time periods in which the transaction must be completed.
Of course, a way to combat this is to always specify in your original NamePros sale post that payment must be received within a certain time frame. Not a huge security threat or anything like that but I thought it was an interesting observation and new domainers could easily fall victim to this kind of trickery…not sure what else to call it because there’s nothing about it that sounds illegal.