Sunday, September 28, 2008

99auction.com tutorials - #002 - Which online auction platform is suitable to you?

There are a few online auction websites available in Singapore. But those with traffic, there are not many. Since I'm a partner of www.99auction.com, I'll not recommend my site and instead, I'll provide you some questions for you to ask yourself. You can judge and decide.

1. Are you willing to pay fee ?

After Yahoo Auction Singapore closed their online auction service on 22 Sept. 2008, a totally free of charge online auction site was gone.

Due to Singapore has so small market, there are no much companies which are interested to spend effort to capture these so small market.

For the existing big name, they will not provide you Free online auction service also. Try to see carefully for they call it Free now. You will know that they only allow you to post very basic auction listing for free.

But if you want to enhance your listing with features, sorry, you've to pay features fee. Even if you'd like to have your listing's picture appeared on their search, sorry, you've to pay gallery fee. If you want to set up a webstore, sorry, you've to pay store fee. The fees are not cheap also. Do check out by yourself.

Different from 99auction.com, we're free to use all our features fuctions.

2. Will the site treat you fairly even after you've paid ?

My true experience on one of the famous online auction site was that I was suspended by them with the reason of " seller non-performing " for 1 year. My rating scores was around 700 with a positive feedback percentage over 98%. So suddently on 23 March 2007, suspended. They provided the reasons that was 14 users had given me negative feedbacks. It was 14 negative out of 700 positive feedbacks. But sorry, they only viewed thing narrowly, only care about the less than 2% negative feedbacks.

I checked and found most of the negative feedbacks were late shipment (actually, not so late for 14 days from Singapore to USA) or some impatient buyers, simply gave negative for fail to read emails and assumed that I had never sent email to contact them. I was shock and I didn't think it was fair.

So I sent emails to follow up. But sorry, no one there care about what I said. So a/c was suspended.

I tried to set up new a/c but sorry, they could trace your IP address, then suspended again.

I felt very insulting as I was the seller with highest rating scores on Yahoo Auction SG. There should be something wrong, either on me or that website. But for my past experience on Yahoo and talking about just 2% of negative feedbacks, I was so sure the faults was not on me.

Recently, if you visit such website, you'll know more unfair treatment on seller. A seller is not allowed to give neutral or negative feedback to a buyer. Even the buyer is wrong but sorry, you're not allowed to give neutral or negative feedback. Instead, the buyer on the wrong side can give you negative feedback which result in seller non-performance and eventually have your a/c suspended.

If you a seller who pay fee to them and you have to accept such unfair treatment to you. Will you continue?

Different from 99auction.com, we try to be fair for all users, not matter you're buyers or sellers.

3. Confusing on local or Overseas auction listings and lead to unnecessary disputes ?

If you ever list any auction listings there, you'll know that they combine local (Singapore) listings with Overseas listings (i.e. USA).

It creates a lot of inconvenience and misunderstanding to users.

Some user may accidentially bid on an Overseas auction and forced to pay high shipping charge (sometimes, shipping charge are of higher than the goods itself). If you're not going to complete the deal, then sorry, due to non payment, you'll receive a non payment strike. More non payment strikes will result in your user's a/c suspension.

Or if you list something, planning to reach Overseas market, you'll be happy to see someone bid on it. Unfortunately, the bidder is from Singapore and never read your auction description before he bid. They insist not to pay to Overseas shipping charge because they're in Singapore. Then, as a seller, you'll be stuck because they'll not help you. If you continue to insist payment from buyer, a negative feedback will be ready for you. Then, again ---> user's a/c suspension.

If you want to please the buyer not to give you negative feedback, then you'll lose because your payment received will not cover your listing fee (you've to pay listing fee to list an auction listing on Overseas auction site), final fee (10+ %). So sellers are also on the losing end. (I mean if you list with them).

Different from 99auction.com, we'll not combine our local and overseas listings.

4. Do they know what you need ?

They're too big already. They won't care what you say. Try to send them email and everytime, you'll receive a standard but not solid answer reply.

And they only provide online auction platform, they are not in real transaction at all.

Different from 99auction.com, myself and my partner are still in the online auction trading. So we know more buyers' and sellers' need than anyone else.

So have you decided ?

www.99auction.com or others ?


(to be continued when have time)

All copyright of this tutorial belong to Mr. Kent Kwok (one of the founder of 99auction.com). Please do not use, quote, copy, hyperlink, screen capture or similar without the prior consent from the copyright owner. Thank you.

99auction.com tutorials - #001 (continued) - Why someone choose to sell through online auction ?

It seems making sense to sell online.

Now the second consideration, why you've to choose online auction?

Firstly, we have to see what kind of online advertising channels available in Singapore.

1. Online auction - sell directly on online auction website, you can choose to pay or choose free of charge online auction sites

2. Online classified ads - you can choose to post advertisements on certain online classified ads websites, same again, you can choose to pay or choose free of charge one.

3. Online forum - some seller posts their ads on some popular online forums. Sometimes, it may not be trade advertisement directly. It may be in the form of mass order (i.e. with a host to purchase goods directly from Overseas and certain participants to share the cost). Or post something like private deal.

4. Own website (including blog sites) - you can put up your own website (some sellers may prefer a blog as look more personal touch than trading website). You can list all your products there. Have your website be listed on the search engine and wait for customers to come. In theory, higher ranking of your sites will generate more traffic and eventually, more sales to you. There are a lot of way to increase your website ranking and a lot of consultants are now providing such service. Or simply way is ppc (pay per click) advertisements.

5. Bulk mails - sellers may choose to sell direct emails to potential buyers. However, it is not easy today due to Anti-spam Act.

6. Others - i.e. selling on some social networks.

After we have found out most online marketing channels available, then why online auction will be the best popular channels?

I think it is because

1. Online auction provides a rating mechanism for users to judge how trust worthy of your trading partner

The rating (some call it feedback) mechanism will provide some idea on how trust worthy of a user. For example, if there are 2 users who sell the exactly the same item at the same time and at exactly the same price. Will you trade with user A if he is new with 0 rating score. Or will you prefer user B if he has 2,000 good ratings scores. Of course, you'll choose user B because you know that he has successfully deal with at least 2,000 different users and those are happy with him.

2. Online auction provides a transparent mechanism for users to fix the market price of a product

As a seller, sometimes I may list a product at very low start price. For example, I used to list some gadgets which might be S$ 0.99 as start price. But after bidders bid on the auction item, it might become many times of the original selling price.

Some recent case was that I tried to sell a HDMI to HDMI cable with a start price of S$ 5.99 (Since my company deal with wholesales and I sometimes list the product at wholesales price of 100 pieces to attract people). The successful bid price may be S$ 14 when the auction closed. The reason for it is simply because of supply and demand. Cause many users may upgrade their TV to LCD TV recently. They may need a HDMI cable to connect their PS3 player to the LCD TV. But the market price for a HDMI cable may range from S$ 20 to over S$ 100. If you see someone is selling a HDMI cable at such a low price, since you also need one, for sure you'll bid. Eventually, it push up the price to S$ 14.

This is the happiest situation that I love to see. Because all users are happy. Seller can sell at higher than his expectation. Buyer can save money because the final price is still far cheaper than market retails price.

The seller may therefore increase his start price on his next auction listing to a higher price, say S$ 13 and it will still have customers to buy.

3. Online auction provides a fun way to try your luck

A buyer prefers online auction than others may also be because of the way to buy. For example, someone put up an auction listing to sell a Nokia N95 at S$ 0.99 It will be very attractive deal and even I don't need a phone, I'll place a bid to try my luck. I'll simply place S$ 0.99 with the hope that if no one has seen this auction, I'll be the winner and I'll get a Nokia N95 at S$ 0.99

It really happen to me a few times in my past 6 years experience. Luckily, it was at lower price items as otherwise I had closed my business long ago.



(to be continued when have time)


All copyright of this tutorial belong to Mr. Kent Kwok (one of the founder of 99auction.com). Please do not use, quote, copy, hyperlink, screen capture or similar without the prior consent from the copyright owner. Thank you.

99auction.com tutorials - #001 - Why sell through online auction ?

Hi, I want to share my experience during my 6 years of online auction selling. Hope the information is useful to you.

#001 - Why someone choose to sell through online auction ?

There are a lot of ways to market your products. But why it is through online auction?

First consideration, why someone choose to sell online?

1. Cost - Sell online is considered one of the cheapest way to sell. So you can save a lot of costs on shop space, advertising on traditional media (newspaper, tv & etc), man power. The savings will lead to high profit and reduction of price for better competition.

2. Time - there is no time restriction to sell online. You can have your sales 24 hours a day, 365 days a year, non stop.

3. Exposure - you can expand your customers base with no geographic restriction. You can sell to anyone at anywhere in the world.

4. Silent or passive income - you are not only earning from online sales. In addition, you can have silent / passive income also. Online advertisement is one of it. You may add some pay per click ads to your website. Then, if someone click on it and you'll earn some money. If you have set up a successful website with hugh traffic, congratulation to you, you'll be a rich guy soon.



(to be continued when have time)


All copyright of this tutorial belong to Mr. Kent Kwok (one of the founder of 99auction.com). Please do not use, quote, copy, hyperlink, screen capture or similar without the prior consent from the copyright owner. Thank you.

Saturday, September 27, 2008

Anyone interested to help us as moderators of the website?

Some customers told me that Singaporeans are only willing to take, especially things are Free of charge. I think it is all human nature. I'll take if things are free, for sure.

But I also think that Singaporeans are with kind hearts too! Otherwise, you won't see people donate millions of dollars to help poorer countries.

The reason why I write above is asking anyone who have spare time and supports our vision to provide a Free to use online auction site, to join us as a team. Cause we need some helpers to answer some users queries, monitor those listings in violation of our policies.

If you think you've spare time and want to do something meaningful and to help others, you'll be much welcome to contact me at info@99auction.com

Thank in advance!

We have prepared some pictures to show how to use 99auction.com

Don't forget to check the help column as we've included some picture files to show how to register a new user a/c.

Also, we have included pictures to show the simple steps to create your own selling default. It will help you save a lot of time to prepare your listings.

Will prepare more pictures when time allowed.

It is happy to see growth in 99auction users and auction listings numbers

We're happy to see www.99auction.com grow. From few listings when we started in April 08. It is reaching 10,000 listings now.

We will not stop but will spend more efforts to promote our website, to find sponsors in order to give exclusive bargains for our users and to further fine tune our platform.

Thinking who'll be the lucky one to post the 10,000 th listings? Anyway, thank you guys for supporting us.