I would like to point out my observation about social mediums marketplace. This is purely my understanding of the system.
First Scenario:
There are lot of sellers in the market who will ask people to bid on an OG they are selling. People will start bidding and then will use the highest bid they receive to benchmark their price and will start a new thread with a buyout 10-20-30$ high depending on the OG and response. Our bids are a total waste.
Second Scenario:
There are sellers who genuinely want to sell their OG for the best price they can get like in the case of @balloon but people refrain from bidding thinking there bids are a waste as they are not going to sell eventually. Atleast this what happened with me. I would have easily paid 10$ for it.
There are trust issues between buyers and sellers and this problem can be easily resolved by having a subforum for auction which will have following format.
Start bid: Bid below which seller won't sell
Auction end: can be 24/48 hours after last bid depending on the seller
Minimum Increment: 1$/2$/5$ etc
Conditions: MM they will use, payment terms etc
It will be mandatory for sellers to sell at the end of the auction.
Sellers who don't want to use this format can continue with buyout format.
I would like to make a humble request to Philly if we could have a subforum within social mediums. I would also like that other esteemed members of FK participate and discuss pros and cons of this auction subforum.
First Scenario:
There are lot of sellers in the market who will ask people to bid on an OG they are selling. People will start bidding and then will use the highest bid they receive to benchmark their price and will start a new thread with a buyout 10-20-30$ high depending on the OG and response. Our bids are a total waste.
Second Scenario:
There are sellers who genuinely want to sell their OG for the best price they can get like in the case of @balloon but people refrain from bidding thinking there bids are a waste as they are not going to sell eventually. Atleast this what happened with me. I would have easily paid 10$ for it.
There are trust issues between buyers and sellers and this problem can be easily resolved by having a subforum for auction which will have following format.
Start bid: Bid below which seller won't sell
Auction end: can be 24/48 hours after last bid depending on the seller
Minimum Increment: 1$/2$/5$ etc
Conditions: MM they will use, payment terms etc
It will be mandatory for sellers to sell at the end of the auction.
Sellers who don't want to use this format can continue with buyout format.
I would like to make a humble request to Philly if we could have a subforum within social mediums. I would also like that other esteemed members of FK participate and discuss pros and cons of this auction subforum.