What will change?
- We’re adding a BUY IT NOW button. No need to wait until the auction ends to buy the item!
- We’re dropping prices (auctions only) by 1% (on selected member groups). This is the final drop in price.
Reminder on why auctions are cool!
How are auctions different from regular SWAPD listings?
- Auctions are interactive. Bidding wars are an exciting event. It attracts more attention to listings, and people can also participate by commenting on the auction.
- Auctions are open. Not only do sellers benefit from auctions, but buyers also have an advantage. By having an open auction, all bidders see the offers of other competing buyers. This prevents dishonest sellers from making up the “I got a better offer from X” stories. This puts all interested parties on the same playing field.
- Auctions save sellers time. Even though sellers still have to share some details with potential buyers via private messages, they will save tons of time by not going back and forth between offers.
- Auctions keep buyers interest alive. Many times, during regular PM negotiations, buyers lose track or forget to reply. With auctions, users are notified every time someone topped their offer, and they also receive frequent reminders on the progress of the auction.
- Auctions are seen by more people. With every bid, auction topics bump to the top of the SWAPD front page, circumventing our 48-hour bump rule for regular listings. This increases views which may translate into more sales.
- Auctions are safe. Sellers have the ability to set reserve prices on their items/services, so they never sell below their expectations. Buyers still get to enjoy the same safety procedures offered by our Checkout Tickets. Since each successful auction is converted into our checkout ticket, both parties are protected by our Transaction Contract and a 24-hour grace period.
Auction fees once the upgrade is complete:
Social Media Properties/Websites/Services/Other
Regular members - 10% flat fee.
Premium members - 9% flat fee.
VIP members - 8% flat fee.
Diamond Club members - 6% flat fee.
Millionaire Club members - 5% flat fee.
0-sec screenshot of SWAPD staff testing the script all day:
That is all.
