Post by reggaeauction on Jul 2, 2008 18:34:13 GMT 1
Dear collectors,
A few Months ago, I personnally stated that I will keep a strict policy on fake bidders and malicious activity on Reggae Auction to ensure that respected members of the community, buyers and sellers, can use a secure and trusted transaction service.
The need for some real transparency is obvious in this niche market and discussions about those related matters around are meaningfull and never ending.
In those times where some records prices are going higher and higher, the need for something clear and straight has become essential.
Of course there is always a possible way to cheat the system even if the membership is secured by a credit card number, in an environment where everyone can do what he wants, like on any auction website, with no way to control it at 100%.
I have made some thinking and finally came with a series of improvements and changes to answer in a specific way to this matter. Because just keeping an eye open isn’t enough...Finding solutions is a lot more interesting for the good of a certain part of the community sensible to that matter.
Let's be totally clear , there are mainly two aspects the site can act on a possible member question:
1) how can I know for sure the auction site isn't using fake bidder accounts, to get more money in fees?
2) How can I be sure a seller isn't using fake bidders accounts to get more money?
About the first aspect, for now and until december the site is in free mode so clearly it will be trully effective after the free period!
1) The first aspect : How can I know for sure the auction site isn't using fake bidder accounts, to get more money in fees?
Well starting december 2008, all the fees will be adapted to each category AND the END OF AUCTION fee system will be completly changed: it will be a flat fee !
All the fees will be adapted for each category as it's not the same thing to sell an original 60's tune and a new repress!
>>List of the END OF AUCTION flat fee per category:
DubPlate Records 2 usd (equal to 4% of a 50 usd item)
Original 60's Records 0,80 usd (equal to 4% of a 20 usd item)
Original 70's Records 0,80 usd (equal to 4% of a 20 usd item)
Original 80's Records 0,80 usd (equal to 4% of a 20 usd item)
90's And Up Records 0,40 usd (equal to 4% of a 10 usd item) (with free buy now option)
Repressed Records 0,24 usd (equal to 4% of a 6 usd item) (with free buy now option)
Reggae CD's 0,56 usd (equal to 4% of a 14 usd item) (with free buy now option)
Sound & Mixtapes 0,16 usd (equal to 4% of a 4 usd item) (with free buy now option)
Movies & Videos 0,48 usd (equal to 4% of a 12 usd item) (with free buy now option)
Sound Systems 2 usd (equal to 4% of a 50 usd item)
Clothing 0,56 usd (equal to 4% of a 14 usd item) (with free buy now option)
Wholesale lots 2 usd (equal to 4% of a 50 usd item)
(Remember there is no listing fee under 40 usd starting price! and that you can still relist for free as much as you want...)
Yes end of auction fees have really decreased especially for mid to high priced items, but that’s not the main point I want to talk about here.
>>for example – 60’s to 80’s category and the flat fee of 0,80 usd:
It means that either you sell a record for 20 usd or 100 usd the site only charge you 0,80 usd !
for a record sold 20 usd it's equal to a 4% fee.
for a record sold 100 usd it's equal to a 0,80% fee.
The only bad part is for records sold at 8 usd, as the fee is equal to 10% of the sold amount, but take into consideration that there is no listing fee for such records and multiple free relists (that you usually need).
What is important is that this Flat fee means the site have NO BENEFIT from the price a record is beeing sold at!!!!
Either it’s 8 usd or 100 usd, for the site it’s the same!
It isn't just words anymore, but facts, undoubtfull facts.
Reggae Auction has no interest of using fake accounts to make records go for higher prices and increase it’s profit.
You can check on the “SITE FEES” page on the site (by selecting the desired category) all the new fees adapted to each category, because same feature fees can't be aplied for 5 usd and 50 usd items!
2) The second aspect : How can I be sure a seller isn't using fake bidders accounts to get more money?
There is already the buy now option, but sometimes there is no way to get a bargain.
Well my answer to this problem is part of the function I am working on for several months now, and that hopefully should be released mid july after the testing period.
I will then complete this first anouncement with the complete details of this function.
Basically, the main goal is to make available for the seller a "no need for fake bidding option" and to make it visible and clear to the potential buyer around, but not only of course.
Let's build the safest collectors community.
I wish you all a great summer,
Best regards,
Ren
PS : As always, I stay open to sensible suggestions and you can contact me by the « contact us » form on the site.
A few Months ago, I personnally stated that I will keep a strict policy on fake bidders and malicious activity on Reggae Auction to ensure that respected members of the community, buyers and sellers, can use a secure and trusted transaction service.
The need for some real transparency is obvious in this niche market and discussions about those related matters around are meaningfull and never ending.
In those times where some records prices are going higher and higher, the need for something clear and straight has become essential.
Of course there is always a possible way to cheat the system even if the membership is secured by a credit card number, in an environment where everyone can do what he wants, like on any auction website, with no way to control it at 100%.
I have made some thinking and finally came with a series of improvements and changes to answer in a specific way to this matter. Because just keeping an eye open isn’t enough...Finding solutions is a lot more interesting for the good of a certain part of the community sensible to that matter.
Let's be totally clear , there are mainly two aspects the site can act on a possible member question:
1) how can I know for sure the auction site isn't using fake bidder accounts, to get more money in fees?
2) How can I be sure a seller isn't using fake bidders accounts to get more money?
About the first aspect, for now and until december the site is in free mode so clearly it will be trully effective after the free period!
1) The first aspect : How can I know for sure the auction site isn't using fake bidder accounts, to get more money in fees?
Well starting december 2008, all the fees will be adapted to each category AND the END OF AUCTION fee system will be completly changed: it will be a flat fee !
All the fees will be adapted for each category as it's not the same thing to sell an original 60's tune and a new repress!
>>List of the END OF AUCTION flat fee per category:
DubPlate Records 2 usd (equal to 4% of a 50 usd item)
Original 60's Records 0,80 usd (equal to 4% of a 20 usd item)
Original 70's Records 0,80 usd (equal to 4% of a 20 usd item)
Original 80's Records 0,80 usd (equal to 4% of a 20 usd item)
90's And Up Records 0,40 usd (equal to 4% of a 10 usd item) (with free buy now option)
Repressed Records 0,24 usd (equal to 4% of a 6 usd item) (with free buy now option)
Reggae CD's 0,56 usd (equal to 4% of a 14 usd item) (with free buy now option)
Sound & Mixtapes 0,16 usd (equal to 4% of a 4 usd item) (with free buy now option)
Movies & Videos 0,48 usd (equal to 4% of a 12 usd item) (with free buy now option)
Sound Systems 2 usd (equal to 4% of a 50 usd item)
Clothing 0,56 usd (equal to 4% of a 14 usd item) (with free buy now option)
Wholesale lots 2 usd (equal to 4% of a 50 usd item)
(Remember there is no listing fee under 40 usd starting price! and that you can still relist for free as much as you want...)
Yes end of auction fees have really decreased especially for mid to high priced items, but that’s not the main point I want to talk about here.
>>for example – 60’s to 80’s category and the flat fee of 0,80 usd:
It means that either you sell a record for 20 usd or 100 usd the site only charge you 0,80 usd !
for a record sold 20 usd it's equal to a 4% fee.
for a record sold 100 usd it's equal to a 0,80% fee.
The only bad part is for records sold at 8 usd, as the fee is equal to 10% of the sold amount, but take into consideration that there is no listing fee for such records and multiple free relists (that you usually need).
What is important is that this Flat fee means the site have NO BENEFIT from the price a record is beeing sold at!!!!
Either it’s 8 usd or 100 usd, for the site it’s the same!
It isn't just words anymore, but facts, undoubtfull facts.
Reggae Auction has no interest of using fake accounts to make records go for higher prices and increase it’s profit.
You can check on the “SITE FEES” page on the site (by selecting the desired category) all the new fees adapted to each category, because same feature fees can't be aplied for 5 usd and 50 usd items!
2) The second aspect : How can I be sure a seller isn't using fake bidders accounts to get more money?
There is already the buy now option, but sometimes there is no way to get a bargain.
Well my answer to this problem is part of the function I am working on for several months now, and that hopefully should be released mid july after the testing period.
I will then complete this first anouncement with the complete details of this function.
Basically, the main goal is to make available for the seller a "no need for fake bidding option" and to make it visible and clear to the potential buyer around, but not only of course.
Let's build the safest collectors community.
I wish you all a great summer,
Best regards,
Ren
PS : As always, I stay open to sensible suggestions and you can contact me by the « contact us » form on the site.