auctionwally wrote (View Post): › Just got off the phone w/ the CEO of boocoo, Here's the deal on fees: Beginning on August, 1st, 2010 Boocoo will charge ONLY a 6% final value fee with NO LISTING FEES. The legalese mentioned above about a credit card transaction fee, is for the MEDIA PARTNERS ONLY, and has nothing to do with sellers. Hope that clears up things. It sounds very fair to me.

It does clear things up and it is very fair Wally. I will be registering and trying the site out next week. Thank you

AuctionWally

Just got off the phone w/ the CEO of boocoo,

Here's the deal on fees:

Beginning on August, 1st, 2010

Boocoo will charge ONLY a 6% final value fee with NO LISTING FEES.

The legalese mentioned above about a credit card transaction fee, is for the MEDIA PARTNERS ONLY, and has nothing to do with sellers.

Hope that clears up things. It sounds very fair to me

---------------------------------------------------------------

So ALL this goes away?

LISTING FEES

$0-$9.99 $ 0.20
$10-$24.99 $ 0.40
$25-$49.99 $ 0.60
$50-$200 $ 0.80
$200+ $ 1.60

ENHANCEMENT FEES

Bold $ 2.00
Addt'l images $ 0.12
Highlight $ 2.00
RFQ listing $ 2.00
Cat. 1 feature $ 10.00
Cat. 2 feature $ 2.00


If so, there's hope for guys yet. Good move. Definitely a plus for sellers which means a plus for buyers. Not the cheapest game in town but should help to generate some business. Remember - all people want is a good product at a fair price. Don't nickel/dime us - please.

This website lacks in onpage design.. May be a review will work here!

@Patchdog

Thanks so much and good luck.

@McPearson, Yes, that's right.

Thanks

OK

By sheer coincidence, eBay and boocoo.com ran an identical item in a very similar fashion.

Each site had a charity auction for an iPad 16gb with wifi.

WE BEAT EBAY with the exact same item! In fact they had a week to sell the iPad, and got a total of 22 bids for a hammer price of $521. This eBay event was also promoted by a famous radio personality all week.

Our iPad started at $1.00, we got more than double the amount of bids that eBay did, (50) and achieved a hammer price of $595! Almost $100 OVER the retail price.

I don't know how many hits the eBay auction got because there was no page counter, but the boocoo auction got 2,300 hits. Yes, TWO THOUSAND & THREE HUNDRED! See for yourself.

What we've seen here is basic auction theory put to a test and it passing w/ flying colors. (Put a good item on the block, with a low start, no reserve, and it will sell well if the auctioneer has done a good job promoting the auction.)

I know people should be skeptical of bold claims, so here are the links to each auction. Check for yourself.

eBay's auction:
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=200499154018

boocoo.com auction of the iPad

https://www.boocoo.com/auction/detail.asp?id=28200&n=28200

What does this mean? Has boocoo become bigger, better, faster more than eBay. No.

But it does seem to indicate, we are on the right track, that listening to what sellers want works, that good old fashioned "start it low n let it go" auctions do still work with good items.

And that it IS possible to build another online auction site that can be very successful.

One auction, does NOT make an auction site, I know this, but let's see what happens over the course of the next week when boocoo has more of these 2 hour auctions. There will be an iPhone, a Dyson vac, a Bose Wave and more.

All start at $1.00, all last 2hrs.

I hope to see you at the auction of the Dyson vac tonight!

http://www.boocoo.com

Thanks

This one might surprise you:

eBay and boocoo.com hosted auctions of identical items, here's the results.

http://www.examiner.com/examiner/x-312-Auctions-and-Antiques-Examiner~y2010m7d26-Ebay-boocoocom-auction-iPads-for-charity-guess-who-gets-more-bids

Apples and oranges wally...apples and oranges but you go ahead and stay in your fantasy world of what is it -- 3300 listings? How long has the site been up - more than 2 months?

The ONLY reason you attracted more bidders is that you started the auction at a ridiculous $1 for a $500 item. That smells of desperation.

How about publishing the bidding history so everyone can make a true comparison?

Tell me, what were the original estimates before the site went live? What studies were done to see if there is a demand for site like this? I have to assume based on postings, facebook and advertisement, the expectations were WELL above reality.

I hope you guys are prepared for the long haul on this. What am I talking about - the PAPERS need to be prepared for the long haul.

auctionwally wrote (View Post): › I hope to see you at the auction of the Dyson vac tonight! http://www.boocoo.com Thanks

I missed the auction last night, but I'll be there tonight checking on the Dyson. Would be nice to win it... getting darn tired of this carpet sweeper I have.

I checked out the site this morning. Very few listings. Not to mention there are no sub-categories. An example would be Clothing & Accessories; there are no sub cats for shoes, purses, tops, dresses, etc. The same with Video games; ie PS3, Xbox 360, etc.
Not very appealing for buyers. Sorry--just my humble opinion.

As I already mentioned on the other Boocoo thread, they need to improve their categories and they definitely need more products listed.

The advertising feature might be great but you also have to realize people are mainly interested in the more popular, in demand items such as iPhones and iPads. I don't really see many listings for these type of items yet.

I did notice they are working on adding 'Stores' so maybe things will begin to improve then. All the other items listed barely have any bids right now.

I wonder if the mitch's auction held on eBay did any radio bits to promote the charity?

@Gary Jaguasr, I agree the site needs more listings, you're spot on there. However, it would be impossible to start with a zillion listings and no site that I know of has done this.

The only way to get more listings is to do things that make it attractive to sellers.

I think boocoo has a lot of good ideas to bring new sellers on, one I'm most excited about is the two hour auction. It seems to be creating quite a stir so far.

Another thing I like that we are doing, is a continual panning for opinion and feedback, no matter how difficult that may be at times. (And believe me, some folks can get pretty angry about their opinions!

I think these two factors are enough to overcome a multitude of minor sins.

-------------------------------------

As for the categories being deeper, I agree there too, but there's no sense in adding more until we can populate them.
-----------------------------------

At bluestreaksi from what I'm told, the eBay auction with Mitch had ad spots done on it's behalf. But since the station is not in my area, I myself hadn't heard whether there were any done or not.

It would only make sense since Mitch's station was sponsoring the auction, that there would be an extensive amount of spots done on the auction's behalf.
================

Keep the questions coming and thanks for them.

@WinsorBear I hear you on that one! I'm afraid I wouldn't know how to use the d*mn Dyson thing though!

It looks more complicated than my car!

@bluestreaksi -

I have sources in the area that just told me Mitch pushed the auction pretty hard with spots on his radio show between 5-7pm.

It just goes to show you how many listen to liberal radio shows. LOL