Auction it TODAY - Kuwait
Auction it TODAY is basically a company that will take care of selling your stuff on eBay. A Kuwait branch was announced awhile back but they just very recently opened up shop. I called them up to get an idea of how their service works and this is what I found out. Just a note, I am not 100% positive about the information below because the person I spoke to wasn’t very clear over the phone. But this basically what I understood from him.
1) You bring your item to them
2) If you don’t have an idea how much your item is worth they will research and find out how much its worth on the market
3) They will take a picture of your item, post it on eBay and take care of shipping the item to the buyer and everything else
4) In return they take a commission fee. If your item sells for under $500, they take 38% commission. If your item sells for more then $500 they take a 30% commission. The commission fee is negotiable if you have a lot of items.
5) If you list your item without a reserve and no one buys it. You pay them only KD2. If you list and item with a reserve price and no one buys it, you pay them KD7.
Auction it TODAY is located in the Free Trade Zone near Movenpick , Building D-14. You can call them on 4613325.
I personally think its a cool service but the commission rate is just absurdly high. Is this normal? I have never used a service like this before so 30% could be the standard rate and I wouldn’t know.
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26 Comments, add your own...
1. 767 | October 30th, 2006 at 4:18 pm
if i sell an item for $1 million (i wish:P) they get 300,000 ?
2. Mark | October 30th, 2006 at 4:24 pm
yes if you sell an item for 1million they take 300,000. So sell your Enzo somewhere else ;)
3. TweeZ | October 30th, 2006 at 4:44 pm
its an awesome idea but I agree that the rate is very high.
4. shopa | October 30th, 2006 at 5:41 pm
why don’t people just sell their stuff on ebay themselves?
5. Toxy | October 30th, 2006 at 5:57 pm
This thing has been around in the FreeTrade Zone for months.
I doubt this concept will work in Kuwait for a number of reasons:
1) Ebay’s biggest market is in North America and Europe. Who is going to buy a Lampshade or an old iPod from a seller in Kuwait? Let’s bear in mind that doesn’t even include shipping to XXX…..The only people who will buy are Kuwait based Locals.
2) The 30% is standard for these type of operations in the US. There are already several companies fighting for a very small piece of the ‘high street’ auction business in the US. (i-soldit.com is one such competitor)
3) What real value does this service bring to the table? I, You or any other seller can take a picture of my item - and post it DIRECT to Ebay AND AVOID the 30% commision rate etc.
This model may work in the US because people who are not computer savvy may like to avoid the ‘internet burden.’
Let’s not also forget that in the US and EUROPE a ’second hand market’ exists.
In Kuwait, apart from cars, most people give their old stuff away to the poor etc.
A nice idea, but ultimately a flawed business model. I will be surprised if they stay in business for too long.
6. Mark | October 30th, 2006 at 6:06 pm
Toxy no one would sell a lampshade to the US. I doubt they could survive on commission made off lamshades.
thats not what you would sell. What you would sell on eBay to the US or Europeans is stuff which they dont have like Persian carpets, antiques, rare art, camels etc.. thats how Auction it would make money, commission on expensive items.
7. Toxy | October 30th, 2006 at 6:15 pm
Right Mark, the ‘lampshade’ comment was being sarcastic. ;-)
And as far as I know Persian Carpets are not allowed to be imported into the US due to the Iran embargo.
The problem is Mark, that as you know, Kuwait does NOT produce any of its own goods. We are a country which is self relient on Imports.
Unless you are considering selling Barrels of Oil on Ebay, I can’t see how they will survive.
p.s. Do you really think that Kuwaitis with rare Art pieces are going to goto an Ebay Auction House to sell their goods?
A flawed concept I’m afraid. Thumbs down from me.
8. Khalil | October 30th, 2006 at 6:18 pm
this is is cool but its damn crazy for 30% commision, i can sell ur item free of charge !!!!
9. Mark d | October 30th, 2006 at 7:13 pm
People could go to the 100 Fills shops in Salmiya and Kuwait City and pick up bunches of stuff and sell them on ebay in bulk. ;)
10. bu50 | October 30th, 2006 at 8:03 pm
i think it’s the same idea from the shop called “we sell your stuff on eBay” in “The 40 yr old virgin” movie..
by the way don’t they have i website?
11. Zorbon | October 30th, 2006 at 8:05 pm
Another issue I suspect they will face is the fact that they are located in the KTFZ… It’s not easy gaining access to the free zone. You have to have business in there. I rememebr once, they banned anyone who’s Iqama is not by a company in the KFTZ from entering… The companies inside had a heck of a time with their customers.
12. holla | October 30th, 2006 at 8:21 pm
lol egay is already unreliable as is, they don’t need another middleman. do you also have to pay the ebay fees?
what a worthless and expensive idea.
13. Pearls | October 30th, 2006 at 9:22 pm
too much.
14. CyberRowdy | October 30th, 2006 at 9:50 pm
38% thats crazzy!
15. aatif | October 30th, 2006 at 10:34 pm
lol @ camel Mark :D Camel for sale on eBay!!! HILLARIOUS!!!
16. sabah | October 30th, 2006 at 10:58 pm
Commission too high and the whole issue of who will buy what in the US from Kuwait. A local ebay would be cool though… and Mark’s Buy and Sell thing in the forum isn’t bad either.
17. Mark | October 30th, 2006 at 11:12 pm
yeah its not bad at all, just bought my first item from the forum lol
18. anonymous | October 31st, 2006 at 12:15 am
38% my ass ..
7rameya
19. Financy | October 31st, 2006 at 7:13 am
i think ebay has local sites for different countries .. like canada and UK and france ..
i had a business idea , but i was too lazy to work on it .. they should have took the licens from Ebay to use their name and site and make up their own local kuwaiti Site .. like Ebay.com.Kw … which serves only Kuwaitis and u can only watch kuwaiti items … with proper advertisement .. ppl would sell their stuff by their own .. even it was 90% dependable on used cars market ..
kuwaiti people are educated enough to know how to use the kuwaiti ebay .. and that would be a great business plan .. instead of that stupid one
20. CyberRowdy | October 31st, 2006 at 9:00 am
financy…”Kuwaitis” hope your that defenition include expats working in kuw as well…
21. Fatality | October 31st, 2006 at 9:26 am
What about shipping costs ? If I sell my car through them and they get 30% commission. Are the shipping costs inclusive ? If so, that might be a good deal.
22. KtheKuwaiti | October 31st, 2006 at 11:35 am
I saw the ebay sign there a while ago, I echo the sentiments of the comments above… It will probably fail.
23. Fadi | October 31st, 2006 at 8:28 pm
Anyone wanna buy a Breitling, new cost $ 5,000 selling for $ 3,000 no commission.
25. Girl | November 30th, 2006 at 10:40 pm
Toxy,
FYI.
The embargo as to Persian rugs and “floor textiles,” pistachios, dried apricots, and Persian caviar was lifted in June of 2000.
26. crocko rock | February 11th, 2008 at 7:16 pm
Is this crap still in operation in Kuwait? Whomever said it was gonna get killed was right.
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