Sedo, and the Boobtube.com problem

Sedo, and the Boobtube.com problem
VentureBeat comments on Sedo’s selling the domain name Boobtube.com, for $41,688 last week, and then cancelling the sale because the seller didn’t really own it. VentureBeat suggests the cancellation “raises prickly questions about the nascent domain name exchanges, which are handling several hundred million dollars of trades. Are they trustworthy? Are they open to market manipulation?” The writer, Mark Coker, a bidder for the domain name, is appreciative he wasn’t defrauded of money, but questions the processes involved in domain name exchanges. Coker notes that “without the essential service of trusted and transparent exchanges, domain buyers and sellers are forced to negotiate blindfolded in the virtual equivalent of a dark alley.”
http://venturebeat.com/2007/06/07/sedo-and-the-boobtubecom-problem/Also see:
Boobtube.com Shenanigan: Domain Name Exchanges Open to Market Manipulation?
VentureBeat is running a story by Mark Coker, going over the recent boobtube.com auction and its eventual cancellation due to misrepresentation of ownership. Mark writes: “Sedo, the world’s largest domain name auctioneer, sold a popular URL, Boobtube.com, for $41,688 last week, but then turned around and canceled the sale because the seller didn’t really own it.” The author, who was also one of the boobtube.com auction bidders, questions the maturity and trustworthiness of the domain name exchanges, which are currently handling several hundred million dollars of trades.
http://www.circleid.com/posts/boobtube_shenanigan_domain_name_exchanges/