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ECT News Community   »   E-Commerce Times Talkback   »   Re: New Online Market Wigix: More Like Nasdaq Than Sotheby's

Re: New Online Market Wigix: More Like Nasdaq Than Sotheby's
Posted by: Jack M. Germain 2008-07-29 05:34:03
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The idea was simple: Build a large catalog of consumer items and make it accessible in a structured format, unlike what already exists in wide-open search engines like Google. Give users tools similar to what they get on financial Web sites. Give a unique online business experience to both the buyers of the goods and the sellers. The result is an innovative online marketplace: Wigix. It's designed to help people on both sides of the buy/sell deal find the right price. Wigix operates somewhat like a stock market.

Odd transaction fee structure
Posted by: SteveFrunkis 2008-07-29 05:40:13 In reply to: Jack M. Germain
"For sales from $100 to $999, sellers pay Wigix a 2 percent share. For items that sell over $1,000 the seller owes one percent of the selling price.

That means that the fee on a $999 item would be $19.98, but the fee on either a $500 or a $1000 item would be $10.00. This barely makes sense.
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