With this new certification all buyers bidding above $10,000 must complete the Premium Member Certification and all bidders placing bids above $100,000 must complete the Premium Plus Certification. If you are interested in participating in a GreatDomains or Sedo Premium Auction Event and are expecting to place a bid over $100,000, your account should be certified as soon as possible. The Premium Plus Certification requires a wired deposit, which may take up to two business days to process.
This is a very positive step by Sedo. Hopefully it reduces the number of non-paying bidders signficantly. If it works well, I hope that Sedo extends this requirement to all of its domain auctions.
Source: Jeff Behrendt writing for DomainNews.com - May 21st, 2008