We've been layin' odds on another forum as to when Romeo will spaz and pull the plug again. Actions speak louder than words.
Romeo says that it's important to reach a certain number of listings so marketing funds aren't wasted. True enough. But he's extending the time it's going to take to hit those numbers when sellers, for discussing business at the place where they do business, are being tossed out on their cans.
He can prolly milk that line of cr@p for a year....but I don't think he'll last that long. WP will stick around and suck up some crumbs that fall from eBay in January when fee hikes...er, I mean,
adjustments are made. The censorship...oops, I mean,
excellent micromanagement, along with no sales will take their toll.
I don't think WP will make it to the fall of 2007. And I don't think Overstock will be around by summer of 2008.
Auction sellers want an alternative to eBay. No some busted-up-chest-thumping-money-grubbing-wannabe's. So far, of the alternative to eBay auction sites that charge up front fees, namely OnlineAuction, WagglePop and Overstock, Overstock is the only one that invests significantly in advertising.
Of course, it's not advertising dedicated to the auction site, but it is advertising and the fact is: it's not working out very well for their sellers. Overstock sellers have an average 2%
STR. But somehow, miraculously, WagglePop, with no advertising, is going to be a viable solution for sellers.
It's a viable solution for a 6K+ income for CEO Ray Romeo. So long as he keeps his loyal members isolated and on a diet of cr@p, they'll happily pay $10.00 plus do their own M&P. Ray should spend as much time tending to his business as he does to the business of his customers. Even eBay isn't as insidious.
It's nobody's business, really, if they give WagglePop - or any other venue - money. But giving Romeo money based on the idea that he's going to lead sellers out of the desert is just frickin' funny!