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Thinking of starting a auction or marketplace site

by feedia
8 replies
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I have had a domain name (altbay) for many years now.
I have ran it as a deal website, and I have ran it as an e-commerce website, and had some success, but now it has been just kinda sitting around for the last year.
I recently got offered to sell it, but the offer was real low.

I am thinking about making it into an auction website (either regular or penny auction) or a marketplace website (like etsy). I know there is a lot of competition, but I also think the domain name is really good.

I have also thought about making it a forum for auction and e-commerce sellers.

Either way, I will probably build it to sell it anyway, as I have too much on my plate as it is.

I would love to hear your opinion or suggestions.
#auction #marketplace #site #starting #thinking
  • Profile picture of the author DWolfe
    I'm not a lawyer but altbay sounds to much like ebay !! If you try to build something similar. You may have eBay's legal department send you a nasty letter about trademarks.

    I would look into this before moving forward. I could be way off base here, but if you start making money you may end up with problems. Than again if you do look into it at least have peace of mind...Wonder what others think ?

    If you have to much on your plate, and had an offer it may be time to cash in $$
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    • Profile picture of the author kjamesnv
      Originally Posted by DWolfe View Post

      I'm not a lawyer but altbay sounds to much like ebay !! If you try to build something similar. You may have eBay's legal department send you a nasty letter about trademarks.
      Agreed 100%. eBay is a BIG, POWERFUL company with lots of lawyers. They will not let competitors infringe on their trademark.

      Unless you want to spend $$$$ fighting eBay think of another use for the domain or sell it.
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  • Profile picture of the author NewParadigm
    I know there's been a few attempts but I think its worth a try for a reverse auction site. Where several people commit to buy a certain product, and suppliers bid down the price. People get a nice significant discount, supplier gets multiple sales at a whack.
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    In a moment of decision the best thing you can do is the right thing. The worst thing you can do is nothing. ~ Theodore Roosevelt

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  • Profile picture of the author feedia
    I have had the domain for over 8 years with no problem. However, I am going to stay away from the auction market. I have rebuilt the website as a daily deal website, and it is for sale here on WF.
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    Thank You,
    Lane
    http://feedia.us - Community for Sharing Articles - Contests - Deals - Games

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  • Profile picture of the author Ndot India
    Penny auction would be a good idea to start up. Unieauction provides 10 different bidding types.
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    Web development company | Mobile application development
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  • Profile picture of the author amcg
    Originally Posted by feedia View Post

    I have had a domain name (altbay) for many years now.
    I have ran it as a deal website, and I have ran it as an e-commerce website, and had some success, but now it has been just kinda sitting around for the last year.
    I recently got offered to sell it, but the offer was real low.

    I am thinking about making it into an auction website (either regular or penny auction) or a marketplace website (like etsy). I know there is a lot of competition, but I also think the domain name is really good.

    I have also thought about making it a forum for auction and e-commerce sellers.

    Either way, I will probably build it to sell it anyway, as I have too much on my plate as it is.

    I would love to hear your opinion or suggestions.
    Firstly, the domain name is not good - you need something original.

    Secondly, starting a marketplace is hard. You have the chicken and egg problem - solve for either specifically would be the best approach though it doesn't guarantee success.

    It's also become easier than ever to do a marketplace startup with the plethora of payment providers (Stripe etc) so it might be worthwhile pursuing. I'm working a a mobile classifieds app as a side project and there's definitely a chance of success for services that meet real needs.
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  • Profile picture of the author jenniferrini
    Its wise to take up this decision that domain name gets unchanged. So its good to get the Etsy clone script and run it as a perfect buy and sell website by editing your preferred changes as a minor correction work.
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  • Profile picture of the author AngelaHayes
    Why not make it a domain for a commercial/marketing pourpose?
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