Blairwitch
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posted on December 11, 2003 01:32:48 PM new
Thanks to dimview for breaking this story.
Listing an item on BidVille's website is currently free. However, a small listing fee will be incorporated in BidVille's fee charging structure in the near future. The listing fee structure will range between $.25 and $2.00 depending on the reserve price or minimum bid value of the item listed. An additional closing fee will be charged to the seller, based on the transaction value of the successfully completed sale, ranging from a straight 5% to 1% plus a calculated price range based on percentage closing fees accrued from higher level closing values. BidVille's listing and closing fees will be slightly higher for more substantial items such as automobiles and real estate. As a result members can sell items that are relatively inexpensive as well as expensive more cost effectively through BidVille's website then the prohibitively cost levels experienced through other traditional trading venues.
http://biz.yahoo.com/e/031211/arep.ob8-k.html
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justmypostingid
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posted on December 11, 2003 02:19:11 PM new
I don't buy or sell on Bidville but I bet soon there will be nothing but tumble weeds on the site.
A site has to be worth the fees before you can charge them.
$.25 Bidville or $.05 Yahoo, who would you pick?
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Blairwitch
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posted on December 11, 2003 02:26:17 PM new
I expect some of the diehards will stay at first, but expect about 90% of the items to be gone the first day. This could be a boost for yahoo.
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dadofstickboy
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posted on December 11, 2003 02:50:11 PM new
I liked bidville back when it was Auxpal.
They changed the name and it went down hill.
I left when they charged to simply be there.
I broke down the other day and tried to buy an item, took 5 emails back and forth to get a shipping price.
When I did it was 3 times what shipping should have been.
There's no way I would pay to be a member or to list.
At least not till I see items moving.
Any site that would advertise would make money.
But just charging the sellers will do nothing.
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barparts
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posted on December 11, 2003 07:56:19 PM new
One has to wonder where all the worthless sports cards, recipe and yearbook auctions will end up. Hopefully, they will end up at Bidway. It is the perfect worthless site to take over. With all the funny money flowing around there, it stands to be perfect for those types of auctions.
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stonecold613
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posted on December 11, 2003 08:37:09 PM new
Sounds like a step in the right direction, sort of. Bidville is too small a site to charge a listing fee, but they sure do deserve a FVF. Too bad the sports card sellers already ruined the site anyway.
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sc0ut
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posted on December 11, 2003 10:38:14 PM new
A reverse aquisition?? Of a Nevada shell corporation?? Smells like a classic pump and dump. I wouldn't touch that stock with a ten foot pole. Pump and dump is so 1999, hey fellas your a day late and a dollar short. Dr. Eddie Orlando keep your day job.
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auctionACE
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posted on December 12, 2003 02:12:30 AM new
It's very difficult to imagine that a group of people thought up the new fee BV structure and thought it sounded about right.
It has to be some kind of an overt attempt to kill the site for some reason like a massive tax write off for a corporation.
BoneCollector, what are your thoughts now of your beloved Bidville?
-------------- sig file ----------- *There is no conclusive evidence that life is serious*
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Blairwitch
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posted on December 12, 2003 08:41:49 AM new
Ace, I think we are going to see 2 phases of fees coming to bidville. The first will be a FVF, and if that works out a listing fee. Either way it almost eliminates the nickel and dime stuff, and I believe they want rid of that junk which makes perfect sense. After thinking about it I think their plan is to 1. Rid the site of clutter, 2. advertise heavy, and charge a flat fvf to begin with, and 3. if and when the site picks up steam charge the insertion fees they listed as wanting. 
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auctionACE
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posted on December 12, 2003 09:47:47 AM new
The listing fees were a Freudian Slip.  How could any company file an ultra important Federal Government without double checking it?
There can never be an listing fes at BV or almost any other non-ebay site. Even a penny would be excessive. I don't see what profits are in a straight 5% FVF for BV if 5% of a buck is a nickel. It may cost more than that to do the paperwork and credit card processing. BV will have to go to a minimum FVF of 20 cents or something and then go with 5% of of any sale over $4 or something similar to that. Since a very large percentage of the BV selling is among BV sellers there may be a lot of unofficial buying and selling to avoid the new FVFs.
-------------- sig file ----------- *There is no conclusive evidence that life is serious*
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Blairwitch
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posted on December 12, 2003 11:14:15 AM new
Good points ace. Bidville sellers are very clanish so I could see seller 1 email seller 2 and buy the item off bidville so no fees will be paid. Thats going to be a huge problem.
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bonecollector
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posted on December 12, 2003 12:09:03 PM new
Anyone who wants to know what's really going on at BV should visit the site for more accurate and up to date information.
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auctionACE
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posted on December 12, 2003 12:26:19 PM new
Bones, you're right.
Here's something that says it all ( by one of the most intelligent people that I've ever encountered on the Internet )
Jackie,
Leaving it to you to do spin control is not a good move by management. If this statement is in error, then the management should make a post in the announcements section.
Personally, I find it insulting to try to label this as a misquote. This was included in a legal document and it was wasn`t just a sentence, but an entire paragraph. It includes comparison numbers which indicate research was done, so this was at least a consideration. Now I will buy that it may not have been the final position, but to label it as a "misquote" and expect us to buy that explanation is insulting. At minimum, this indicates sloppy legal and management work.
It is also disturbing that listing fees, particularly of this size, were even a serious consideration. To me it indicates that the current ownership and management of this site may not have a good understanding of the auction world. Ebay can charge listing fees because the sell-through on that site is approximately 40%. To think that you could charge a fee approximately half that size when Bidville`s sell-through is maybe 1% of Ebay`s is pure fantasy.
I fully expect Bidville to implement a FVF fee in the near future because it`s current revenue model is not adequate in my opinion. I have been a proponent of that for a long time if it is used to promote the site. However any type of listing fee will turn this place into a ghost town in a very short period of time.
-------------- sig file ----------- *There is no conclusive evidence that life is serious*
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