eAuction Business

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yupiyeyeyupiyupiye

New member
Nov 27, 2005
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Hello,

I want to start an auction business like ebay for dominican people but they've told me that dominicans are not used to auction systems. According to what I've been told, to be successful running this kind of business I will have to give some auction classes at the dominican universities and so on. Is all that true?

If not, how can this type of business be successful in DR?
 
Y

yupiyeyeyupiyupiye

New member
Nov 27, 2005
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I am thinking setting up the system to accept:
- credit cards,
- deposit/bank transfer,
- site balance.
With the "CC", ads will be posted automatically. With "deposit/bank transfer", the ads will placed on pending until payment is made properly. The "site balance" will mean people will deposit the money in advanced and their account will be credited. As they post ads, they balance will be deducted.

Those methods are what I have in mind, If you have other ideas please let me know.
 
Robert

Robert

Stay Frosty!
Jan 2, 1999
20,574
341
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dr1.com
How will they pay in RD$ (pesos)?
How will you "scrub" or verify their transactions in RD$?

When you have solved the above, you would have achieved something that not even the old Bancredito and millions of US$ could solve.
 
Y

yupiyeyeyupiyupiye

New member
Nov 27, 2005
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I will charge them in RD$ (pesos) only.

If they choose to deposit the amount on my bank account, the system will give them my bank account number. Then they will go to any Banco Popular to make the deposit properly. They will also have to add their username in the transaction description. The bank agent will do it if only they ask for it.

If they want to pay with credit card, they will choose to pay with Paypal and the system will convert RD$ to US$ automatically for Paypal. In case they don't want Paypal, they will provide me their CC infos for manual processing. Partenered with Cardnet and Visanet, my agents will process the payments in RD$ manually.

What do you think about that?
 
J

Jumbo

Bronze
Jul 8, 2005
1,515
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63
Good luck. I shop ebay and the fraud and misrepresentation of products is constant. In the DR i need to have the product in my hand before i pay. Why not start a consignment/pawn store and feature the items also on the net. In time add an auction section after you worked out logistics and payment processing. I believe Paypal will not take DR pesos or DR credit cards.
 
C

carina

Silver
Mar 13, 2005
2,691
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Jumbo, you are right.
Most people here that have creditcards have VISA LOCAL, or other cc, but valid for purchases only in DR.
 
S

shadInToronto

On Vacation....
Nov 16, 2003
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Are you serious

yupiyeyeyupiyupiye said:
Hello,
I want to start an auction business like ebay for dominican people but they've told me that dominicans are not used to auction systems.
If not, how can this type of business be successful in DR?
Click to expand...

First of all, your market is limited to the DR and why do you think people will give up face to face haggling/shopping for virtual shopping? Most importantly, what %age of the population have access to a computer nevermind the internet? Sounds like a half baked idea but, unless you try, you'll never know. :rolleyes: :rolleyes:
 
J D Sauser

J D Sauser

Silver
Nov 20, 2004
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www.hispanosuizainvest.com
I understand the thinking behind the idea:
It is for most people difficult to import and export stuff to and from the DR.. so ebay.com while atractive is not effectively usable for most of the DR public. So wy not put up an auctin site here. The software is realily available just like for forum and people could buy and sell things "localy".

From my e-mail conversations I have I would say that there is more people than one would think that goes online quite regularly, either from home but scools like universities and e-cafes. Sadly, those that can't afford going online, will likely not afford to bid on articles or have much for sale either.
Paying may be an issue, sending it around (with what mail service???) may be an even bigger issue.
Lack of seriousness of seller and bidders failing to keep up to their dealings may also wreck the inicial enthousiasm.

Just opinions... J-D.
 
M

Michael Strong

Bronze
Nov 27, 2002
303
27
28
www.compunorma.com
Would love to find a partner

I have a whole ebay like application programed in spanish. Just waiting for partners. I also hold the domain subasta.com.do. Can't wait to start. Idon't have engough resources to do it on my own. I this it will work. You can send everything cheap by caribe tours even money. so that won't be an issue. sites like emarket.com show that there is a lot of online dealing going on.

SO anybody ready to partner?
 
S

shadInToronto

On Vacation....
Nov 16, 2003
1,988
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Feasible if available to wwww ....

Large transaction volume required to make this a profitable venture but, if only targeted to DR, maybe rough times ahead. You could use an ASP to host your site but, you'll need to generate enough transaction volume to cover that ongoing cost.

If you set up your own infrastructure, there is the initial capex plus ongoing cost .... marketing, telco, isp, support, administrative, etc., etc.

You colud do it but good financial backing needed and it may never be profitable ...
 
C

carina

Silver
Mar 13, 2005
2,691
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You can send everything cheap by caribe tours even money. so that won't be an issue.
Click to expand...

This will be an issue, as no one will pay for something they haven?t seen, and no one will send an item that is not paid..
That is the way the mind is working here.
 
C

carina

Silver
Mar 13, 2005
2,691
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Michael Strong said:
I have a whole ebay like application programed in spanish. Just waiting for partners. I also hold the domain subasta.com.do. Can't wait to start. Idon't have engough resources to do it on my own. I this it will work. You can send everything cheap by caribe tours even money. so that won't be an issue. sites like emarket.com show that there is a lot of online dealing going on.

SO anybody ready to partner?
Click to expand...

Hi, I looked at the website of emarket.com, by what on that website do you determind that alots of online dealing is going on here?
 
Y

yupiyeyeyupiyupiye

New member
Nov 27, 2005
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Carina, the URL is: emarket.com.do
Also, It sounds logic that no one will pay for something they haven´t seen, and no one will send an item that is not paid. If the website has the picture and the description of the item maybe that could change people's mind.

After all, I think Jumbo's idea is the safest way to start such business in DR. He suggested to start a consignment/pawn store and feature the items also on the net. This could build confidence for the users. In my opinion, I could store the sellers' products and feature them on the web. Now buyers will have the rights to visit us to see products before paying it. The inconvenience is the place, how huge should that store be?

If all sellers store their own products, i could recommend the buyers to always meet with sellers before paying for the products maybe that could solve the problem and still build some kind of confidence.

In summary building this kind of business in DR requires the most anti-fraud system available. Sellers want to be sure that the product will be sold fast and buyers want it to be with high quality and delivered on time. I will have now to find a way to solve both parties problem at first.
 
I

Its_where_I_Belong

New member
Nov 5, 2005
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RE: yupiyeyeyupiyupiye

yupiyeyeyupiyupiye said:
Hello,

I want to start an auction business like ebay for dominican people but they've told me that dominicans are not used to auction systems. According to what I've been told, to be successful running this kind of business I will have to give some auction classes at the dominican universities and so on. Is all that true?

If not, how can this type of business be successful in DR?
Click to expand...

your idea is not bad , but your market share would be very small since not everybody would first understand the principle of the business. Even if Dr has the latest technologies, computers and all that, Dominicans in general do not possess all the required knowledge to use that type of technologie: imagine buying online????

You would have more success I think, with live auction with good printed promotions.

Also, if you want people to take you a little more seriously change your nick: "yupiyeyeyupiyupiye"!!! it will be hard to find a businees partner on DR1 with this kind of nick, think about how serious it looks.

;)
cheers

AR
 
Y

yupiyeyeyupiyupiye

New member
Nov 27, 2005
14
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0
By the way, thinking about DR1.COM. The website is in english and I haven't found any spanish version but they still get a lot of visitors from DR. Can an auction website be running in english in DR?

Also at the starting point, should this kind of business starts free for everyone, or just cheap? If I should charge for posting ads how much would you suggest me for starting?
 
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