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Great idea! Sorry if I'm dense or missed this, but how does Bidkat make money? I was assuming a transaction fee on top of the closed bid, but it seems that it's

by rexreed 14y ago

Great idea! Sorry if I'm dense or missed this, but how does Bidkat make money? I was assuming a transaction fee on top of the closed bid, but it seems that it's totally free to the buyer and seller? Maybe I missed the FAQ?

rexreed 14y ago
The Terms (https://www.bidkat.com/terms https://www.bidkat.com/terms) seem to imply that "upgrades" will be sold at some point, but it's not clear what upgrades. "By selecting an Upgrade you agree to pay BunKat LLC the fees indicated for that service. Payments will be charged on a pre-pay basis at the time of purchase for an Upgrade and will cover the use of that service as indicated. Upgrade fees are not refundable." Also, I'm confused -- where does the payment transaction happen? Does it happen inside Bidkat or is that part left up to the transacting parties?
- bunkat 14y ago
  Currently the only upgrade is bid activity when making offers on an auction. Payment between parties is left up to the parties. Since we're focused on local sales, this is generally face to face when the item exchanges hands.
  - rexreed 14y ago
    Can sellers specify "methods of payment accepted"? I can definitely see myself selling some things to local people (couches, for example), but other things I would place on forums where there are aficionados for those products (baseball cards, for example), and where I'd rather receive payment via some online method (Paypal, etc.) and not be constrained by locality. Not sure if that's your vision or not, but I would totally use Bidkat for collectibles as well as local sales. Of course, in your value proposition you state your purpose is to make local sales a lot easier, so I guess that's not the current vision.
    - bunkat 14y ago
      We definitely want to see BidKat used in these scenarios. Currently payment is completely between the seller and buyer. Feel free to add information to your description on what payment options are available.
bunkat 14y ago
There are currently two ways: people can purchase bid activity about the item they are bidding on (this is free for the sample, but costs for other auctions), and people can donate after they receive an offer. If we can't make it work like that, we'll try other methods (though never with ads).
- rexreed 14y ago
  Ok, makes sense, but worth putting it up there so that it's clear how you will (and more importantly, won't) be making money so people can feel safe running their bids through you. Also, make it clear when and how the payment part of the transaction happens -- that's not clear either.

by rexreed 14y ago

rexreed 14y ago

The Terms (https://www.bidkat.com/terms https://www.bidkat.com/terms) seem to imply that "upgrades" will be sold at some point, but it's not clear what upgrades. "By selecting an Upgrade you agree to pay BunKat LLC the fees indicated for that service. Payments will be charged on a pre-pay basis at the time of purchase for an Upgrade and will cover the use of that service as indicated. Upgrade fees are not refundable." Also, I'm confused -- where does the payment transaction happen? Does it happen inside Bidkat or is that part left up to the transacting parties?

bunkat 14y ago
Currently the only upgrade is bid activity when making offers on an auction. Payment between parties is left up to the parties. Since we're focused on local sales, this is generally face to face when the item exchanges hands.
- rexreed 14y ago
  Can sellers specify "methods of payment accepted"? I can definitely see myself selling some things to local people (couches, for example), but other things I would place on forums where there are aficionados for those products (baseball cards, for example), and where I'd rather receive payment via some online method (Paypal, etc.) and not be constrained by locality. Not sure if that's your vision or not, but I would totally use Bidkat for collectibles as well as local sales. Of course, in your value proposition you state your purpose is to make local sales a lot easier, so I guess that's not the current vision.
  - bunkat 14y ago
    We definitely want to see BidKat used in these scenarios. Currently payment is completely between the seller and buyer. Feel free to add information to your description on what payment options are available.

bunkat 14y ago

There are currently two ways: people can purchase bid activity about the item they are bidding on (this is free for the sample, but costs for other auctions), and people can donate after they receive an offer. If we can't make it work like that, we'll try other methods (though never with ads).

rexreed 14y ago
Ok, makes sense, but worth putting it up there so that it's clear how you will (and more importantly, won't) be making money so people can feel safe running their bids through you. Also, make it clear when and how the payment part of the transaction happens -- that's not clear either.