Posted on :
25 May, 2012
25 May, 2012
Launched in August 1999, bidorbuy.co.za is a South African online marketplace that brings buyers and sellers together to trade almost anything through online auctions and fixed price sales. bidorbuy.co.za is the largest site of its kind operating in South Africa.
How bidorbuy.co.za works
Typically any user that wants to sell goods or services can list the item for sale on the web site using the web based tools provided. The seller sets a start time, end time, pricing information and provides a detailed description together with images for the item they are selling. Other users can then browse these items for sale and bid on or buy items they are interested in. Should there be a sale, the bidorbuy system puts the buyer and seller in contact with each other and it is then up to the buyer and seller to conclude the deal between each other (which normally involves arranging payment and shipment of the goods purchased). bidorbuy makes its money by charging the seller a commission of between one and five percent on all successful sales (except for high ticket items such as cars and properties where only a flat listing fee per item is charged).
bidorbuy does not sell any goods itself but only provides an online platform to facilitate trade between other buyers and sellers. Typically most buyers and sellers reside in South Africa however there are also a number of sellers located outside of South Africa that make use of the bidorbuy web site to sell to South Africans.
The majority of goods sold on bidorbuy are new items (as apposed to second hand goods) with the ratio of fixed price listings relative to auction listings on the increase. It is interesting to note, like similar International site such as eBay.com, many sellers / professional traders are now making a business out of trading on the bidorbuy web site in South Africa.
bidorbuy also operates a payment system as an optional add on service to users in order to speed up the receipt of payments between buyers and sellers as well as to assist sellers in reconciling payments they receive from buyers. This payment service is called bobPay and includes payments made by credit card and EFT. Many smaller sellers are unable to qualify for credit card merchant accounts themselves and therefore opt to make use of the built in bidorbuy payment system. In addition, bidorbuy provides sellers with a variety of other tools to make it easy for them to manage their sales through the bidorbuy system.
bidorbuy also provides large sellers with customised tools to make bulk listing of products easier and can integrate directly with popular online shopping cart solutions. This together with the innovative online payment solutions offered makes bidorbuy.co.za a clear leader in the South African online buying and selling marketplace.