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Wigix - A True eBay Competitor?

Posted on 4.28.2008
Wigix is vying to be a competitor to eBay. Like eBay, users can offer up items for sale and buyers can make bids. Unlike eBay, Wigix is an SKU-based marketplace (no collectibles) and offers a stock exchange-like atmosphere for goods. Items are grouped: for example, all iPod Nano's are on the same listing. You can then see the current market value of that item, how it has changed and what kind of offers are out there. A buyer lists criteria for purchase (time, price, condition, etc.) and whenever the item matches those criteria, you are asked to confirm the sale. For a seller, criteria is set and released to the public. No sales are final until both parties agree to the terms of the order.

When you click on an item (or group of items) for sale, you are presented with a screen (see below.) This shows the current market value of the item, last change in value, owners, sellers, buyers, watchers, ratings and overviews. If you own the product, you can list it without actually offering it up for sale - a nice way to check the value on your item. Potential buyers can still make you an offer just in case you change your mind.

Overall, it looks like an attempt to standardize the online mega-marketplace. And that could be very useful, as eBay has its problems when it comes to items being over-valued or unscrupulous sellers and buyers. I also like the function that follows the market value of an item over time.

To get users away from eBay, Wigix offers no cost to list items under $25, one dollar from both the buyer and seller for items $25-100 and an additional 2% of the sale price for more expensive items.


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