3 things to create an alternative to ebay
packers88
Posts: 558
1) eyeballs, how do you get mass people to come to your site in order to get the best prices for your customers? You really can't get to the same scale as ebay without probably spending 10's of millions of dollars or more, so the alternative is that the only way to start a site is to offer set prices only and no bidding.
2) If I'm going to go to a new coin site, the first thing that scares me is the site is new, so that alone makes me scared to give them more than $100 for any coin I buy. If I pay through the buyer then that is even more scarry because I don't know him from squat. It all boils down to how do you instill the trust factor to get people to give out cc info or bank account info or even for that matter to buy from someone and give out all their personal info?
3) Yahoo with all their capital behind them failed with their free auction site, so one has to asks if yahoo couldn't do it then how could I?
I believe a good idea for someone trying to start their own coin auction site would be to take possession of the coins, but then you really become no different than Teletrade and in addition being a new company you come back to the trust factor, how are you going to get people to send you coins worth hundreds if not thousands of dollars when you've been around for only a few weeks?
2) If I'm going to go to a new coin site, the first thing that scares me is the site is new, so that alone makes me scared to give them more than $100 for any coin I buy. If I pay through the buyer then that is even more scarry because I don't know him from squat. It all boils down to how do you instill the trust factor to get people to give out cc info or bank account info or even for that matter to buy from someone and give out all their personal info?
3) Yahoo with all their capital behind them failed with their free auction site, so one has to asks if yahoo couldn't do it then how could I?
I believe a good idea for someone trying to start their own coin auction site would be to take possession of the coins, but then you really become no different than Teletrade and in addition being a new company you come back to the trust factor, how are you going to get people to send you coins worth hundreds if not thousands of dollars when you've been around for only a few weeks?
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Comments
Getting buyers to visit and participate in the site is the key. Unless you have moon money to invest
(and probably lose) for advertising (and etc.) to attract buyers, you will fail.
And, why should buyers care one way or another? Most, if not all, of their needs are already satisfied
by the eBay Monster. It costs them nothing to participate there...
John
SFC, US Army (Ret.) 1974-1994