I noticed that several Google searches for “Sedo accounts receivable” end up at this very blog.
At first I was perplexed, then realized that a recent post about how effective that Sedo department is, apparently sends visitors here.
Sedo has been quite effective in collecting payments from stalling buyers on my behalf, but it’s not perfect.
By a rough estimate, the handful of non-paying buyers at Sedo ‘cost’ me about $40,000 in lost revenue; a 10% to 15% of which would have gone into Sedo’s pockets.
The Sedo Accounts Receivable department is based in Cologne, Germany, where the company’s finances are run from. They seem to have a good grasp on bureaucracy but there is so much they can do when a buyer refuses to pay. They are not a collections agency.
Once a non-paying buyer is unresponsive, the transaction ends and their contact information is revealed to the seller. It is a good idea to involve the accounts receivable department prior to seeking the cancellation of a transaction, as they maintain a good leverage – after all, they’re the ones counting the Sedo beans every financial quarter.