Today we are excited to announce the arrival of a new feature on Listia: Fixed Price Listings!
Fixed Price Listings are different from today’s auctions in that there’s no bidding involved, and instead there is only a Get It Now (GIN) option. Some info about this new type of listing:
- Fixed Price Listings may only be listed by sellers with the Trusted Seller badge.
Knowing the exact price you want for an item takes experience, so we want to make sure only sellers who’ve earned the Trusted Seller badge have this capability. There are no restrictions on who can place a GIN bid, though.
- A listing fee of 50 credits is applied when the item is listed.
- If the item sells, there is a 10% transaction fee based on the GIN amount.
This amount is only deducted when you receive credits for the item.
- Listings can be created on the Web starting today, and support on our Android and iOS apps is coming soon.
- In almost every other way, these listings behave just like Auction Listings.
This new type of listing will benefit both sellers and buyers:
- List with a fixed price to make sure you get the exact amount of credits you want. Have a valuable item that might only attract a few bidders? A Fixed Price Listing can help remove a lot of the uncertainty that may come with auctions and bidding.
- For high volume sellers, Fixed Price Listings can result in listings that end earlier (you typically won’t have to wait the full listing duration), which means spending less time waiting, and more time earning credits.
- Fixed Price Listings bring more of that feeling of instant gratification you love when you use Get It Now. Watching and bidding on auctions is fun and exciting, but being able to win an item instantly is equally rewarding!
- Because Fixed Price Listings encourage sellers to list items they previously might have held out on listing, buyers will start to see new types of items on Listia!
In conjunction with the release of Fixed Price Listings, we are also simplifying the pricing of the Get It Now and Start Bid options on Auction Listings, making them more consistent with how Fixed Price Listings behave.
Get It Now on Auctions
- The low 50 credit listing fee is staying the same, but will no longer be refunded when the auction ends with GIN.
- This change is effective today for all new auctions.
Start Bid on Auctions
- Start Bid currently has a listing fee that increases with the start bid amount. For example, a starting bid of 1,000 costs 100 credits, but a starting bid of 50,000 costs 1,000 credits.
- This is changing to a low, flat listing fee of 50 credits with a 10% transaction fee on the start bid amount if an item ends with normal bidding (not GIN).
- Example: If you set a 5,000 start bid on an auction, you’ll pay just 50 credits up front. If your auction ends at 100,000 credits, then a fee of 500 will be applied when you receive your credits. A couple of important things to note:
- The 10% transaction fee is only based on your start bid, not the final bid amount.
- If the item does not sell, then no transaction fee is applied.
- These changes will take effect Wednesday, April 15th, 2015.
The changes to Get It Now and Start Bid come about because we want to make the fees for the various features on listings simple and consistent. Once all the changes roll out, a simple way to think of it is that Fixed Price, GIN and Start Bid all have a very low listing fee of 50 credits. This allows you to list items with these features with little upfront cost and very little risk. Then, for all three features, there will be a 10% transaction fee applied only if the item sells.
|Listing Type||Listing Fee||Transaction Fee|
|Fixed Price Listing||50 credits||10% of GIN
Only when item sells
|Auction with Start Bid
When Start Bid is 500+
|50 credits||10% of Start Bid
Only if item sells via regular bidding
10% of starting bid, NOT final amount
|Auction with Get It Now||50 credits||10% of GIN
Only when item sells via GIN
|All Other Auctions||FREE||FREE|
Onward and Upward!
Along with these changes, you’ll also notice a refreshed browse and search results view on the Web. We’ve made some improvements to display bidding and GIN options more clearly, and we’ve also made the images larger.
Our continued goal is to make Listia a bustling community where members can trade items with each other in a friendly and fun environment. With Fixed Price Listings, we’re now giving sellers a lot more control over how they want to sell their items, and at the same time creating more GIN opportunities for buyers.
Having more options helps everyone find a way to use Listia that feels “just right” for them. We can’t wait to see what you list! 🙂