NAXCOM is the latest to enter the auction game. The online sports card marketplace is just over a week away from launching a new option for those willing to have buyers dictate a card’s value.
NAXCOM has announced that it will be launching their No Listing Fees Auctions on Wednesday 11/7 at 12:00pm (pst).
“Since we launched our main NAXCOM site back in 2001, our users have continuously requested for us to expand into auctions”, said Eric Beckerman – CEO OF NAXCOM. “However, we didn’t want to expand into auctions until we had enough critical mass where there would be a lot of listings and bidders to make our auctions dynamic.”
What changed for the company was the recent acquisition of ThePit.com from the Topps Company. This acquisition nearly doubled NAXCOM’s user base and gave them the ingredients they believe are needed to begin the auction platform.
“Once that happened, we began developing our auction system about a year ago," commented Kevin Klein – NAXCOM’s VP of Business Development.
NAXCOM Auctions will obviously be faced with a battle against auction power eBay but is attempting to win a new level of consumer confidence by offering a Buyer/Seller Protection program. Winning bidders will make their payment to NAXCOM, rather than pay the seller of the item directly. It’s a concept which is designed to protect buyers from sellers who either don’t mail out their item or send the wrong item. Sellers will receive their money directly from NAXCOM once a buyer’s payment has been made.
Sellers pay no listing fees and NAXCOM will offer lower transaction fees than other sites. There are no extra fees to offer an instant purchase (Buy it Now type sale). NAXCOM will also not charge a premium to create a listing which has a specific start or end time, an extended auction (up to 14 days) and will allow the addition of three additional images.
“Users have wanted this for a very long time now,” said Bill Elder – NAXCOM’s VP of Marketing. “But we wanted to do it right, so we took our time and utilized input from our immense existing user base to create a lot of unique auction features that buyers and sellers will be excited to use.”
“In addition to the buyer protection, NAXCOM will also dictate a fair shipping price on all sales, automatically calculate a combined shipping when a buyer purchases from the same seller on the same day," Elder said. It promises to maintain accurate titles, devoid of "false advertising" and will offer the ability to pay with a credit card or PayPal. Buyers can also fund their account with check or money order on all transactions.
Related content: More on NAXCOM Auctions (8/2007)