Last week, I was looking at some domain names on Sedo. I saw a one word .com domain name listed for sale for less than $500 The domain name was developed, and it was way underpriced from my perspective. I reached out to the owner to confirm the listing was legitimate and concurrently purchased the domain name on Sedo and made a payment via credit card.
During this short window of time, the owner confirmed the domain name was for sale, and then he told me the buy it now price was an error. It was their first time using Sedo and apparently they made a mistake with their listing. They relayed this information to Sedo and the deal was canceled and I was refunded.
Sedo informed me that the seller stated this was an error. The transaction was canceled, and I was told “You might want to take a legal action against the seller, therefore we have made his contact data available in your Sedo contract.”
I have no doubt that the seller is being truthful. I anticipated that it was an error, but I bought it anyway just in case they simply wanted a quick and painless sale. Mistakes happen. I don’t know how the error happened, but I am confident the owner of the domain name had no intention of selling it for less than $500, so it was no big deal to me.
Several weeks ago, I ran a poll asking people if a seller should be allowed to cancel a deal because of a pricing error. Nearly 100 votes were cast, and about 2/3 of those who voted said the seller should not be allowed to cancel a deal because of a pricing error.
I could pursue the case via legal channels and perhaps even win because of Sedo’s purchase agreement, but I am not interested in being the cause of someone else’s stress. The last thing I want to do is give someone a hard time because they made an error when the domain name was listed for sale. The seller’s error cost me a bit of time, but beyond that, the only thing I lost is the opportunity to make money on a resale. This opportunity wouldn’t have even existed had the domain owner not made a mistake.
I think this was the right thing to do, and I would hope for the same courtesy from someone else if I was the one who made the error.