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DN Journal Procedure for Verifying Reported Domain Sales

DN Journal lists hundreds of reported domain sales each week. To ensure that our weekly reports are as accurate as possible given the flood of data we receive and the time constraints we operate under in order to produce the column, we have developed a verification system that we believe allows us to achieve a high level of accuracy.  

Most of the sales in our report come directly to us from reputable and widely-known sales venues such as Sedo.com, NameJet, Uniregistry Market and several others. We accept their sales reports as accurate since there are three parties involved in every transaction at these venues, the buyer, the seller and the venue that provides escrow services. It would take collusion on the part of all three parties to put out a false sale report without fear of detection and we do not believe that any of these major venues would risk destruction of their business reputation by being involved in fraudulent sales reporting. 

We also receive reports of sales made between only two parties, a buyer and a seller. In these cases, unless the parties to the sale are already very well-known to us, we require that documentation showing proof of the price paid be sent to us. A screenshot or scan from the financial service that handled the exchange of funds is required. If we still have concerns about the legitimacy of the sale we have in the past, and will continue in the future, to contact the financial institution in question for further verification (most will provide such verification with the consent of their customer). 

We recognize that no system is foolproof and there will always be unscrupulous people who may file false reports and even forged documentation. We do our best to identify and delete such bogus sales reports and believe that we have been very effective in doing so over the years. If proof of a false report comes to our attention we will delete that report from our site and if we confirm that willful misrepresentation was made we will publicly identify the parties responsible.

On a related topic, readers should always keep in mind that our sales column is meant to be an educational tool, not a complete list documenting ALL high value domain sales. Such a list is impossible to produce because many sales are kept private at the insistence of buyers, sellers or both. Our column represents a large sampling of the sales activity that takes place each week and we hope this sample will give our readers some insight into overall trends in the domain aftermarket.

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