Coming Soon: Marketplace 2.0
As the new SitePoint development manager, I’ve spent the past few weeks working with our talented and hard-working developers to prepare the next chapter in the life of the SitePoint Marketplace.
With all the buzz surrounding yesterday’s 99designs launch, it would be easy to think we were neglecting the Marketplace. Nothing could be further from the truth!
SitePoint Marketplace 2.0 is built on the same foundation that we used for SitePoint Contests 2.0 (now 99designs) and the SitePoint CSS Reference. It uses the same cutting-edge SitePoint PHP Framework that will speed up future development, and it will be deployed on the Amazon EC2 hosting service that provides the instant scalability to keep the site speedy during periods of heavy load.
But aside from all that techhy stuff, Marketplace 2.0 will bring some long-overdue changes to the way listings work. In particular, the new platform contains the following changes and improvements:
- A revamped and simplified new listing wizard, that enforces constraints like the starting price on auctions for premium sites.
- A two-way feedback system for auction holders and bidders, making it easier to tell if you’re dealing with a longstanding, trustworthy member of the Marketplace.
- Conditional bids, which require the auction holder to read and agree to conditions set by a bidder before a bid is accepted.
- Optional bid approval, which enables auction holders to approve new bids before they take effect.
- New, more informative user profile pages, which enable you to research the transaction history of a Marketplace user you are considering doing business with.
The Buy It Now (BIN) feature has been removed, as it has been a consistent source of problems in the current Marketplace. We expect auction holders to offer ‘Buy It Now pricing’ via private messaging initially. If we find there is continued demand for a BIN feature after this change, we’ll go back to the drawing board and build it right.Update: By popular demand, Buy It Now (BIN) has been reinstated for the 2.0 launch. Read the announcement.
For more details, check out the changes to auctions that we announced last year.
As for when this is all going to happen, we’re currently about a week away from an internal testing phase, after which we want to invite some of you in to provide feedback in a private beta test. Watch this blog for news of how to get in on the action!
February 15th, 2008 at 3:11 am 1
does this mean listing prices will continue to increase?
February 15th, 2008 at 7:14 am 2
The new improvements sound excellent, particularly the rating system. I hope you also consider making it easier to report listings or prevent sellers from listing in the incorrect section - ie stop all of the turnkey crap being listed in established sites.
But bring it on, I can’t wait.
February 16th, 2008 at 8:43 am 3
Yes, the listing wizard will automatically put websites into the right category and prevent Turnkey websites from being listed in the Established or Premium category.
With regards to the Buy-It-Now feature, auction holders will have the option to declare a winner and close an auction at any point in time. Therefore, auction holders who wish to have a BIN price will be able to use the description fields to list the price at which they’d close the auction and declare a winner.
The reason for the change is that we’ve had many auctions prematurely closed by fake bidders which frustrates sellers as their auctions quickly fall off the frontpage. Likewise, we’ve had unethical sellers, ignore BIN bids when better offers come in via email or private messages.
February 17th, 2008 at 6:46 am 4
What use Amazon’s service…it’s not like your getttin 100,000 uniques hammerin the website for sale listings every day. I use 99designs and I find it annoying. a) it’s slow b) feedbacking every entry process is cumbersome. It’s a nice platform and all, but the user interface could be improved substantially…for the level of fees you charge at 99designs, I look forward to a lower priced, better designed competitor coming to market. You guys just have too much overhead.
February 17th, 2008 at 10:18 am 5
Thanks for your feedback, Brent. I’ve passed it along to the 99designs team. Performance issues should be addressable as Amazon’s got plenty of grunt, and I know they’re working hard on usability issues related to giving feedback.
We use Amazon’s services precisely because these are very high traffic sites. The combined traffic of sitepoint.com easily broke 100,000 uniques per day before we split off 99designs, and on peak days we’re not far off that post-split.
But more importantly, our traffic growth curve is such that any physical server infrastructure we bought into now would be insufficient for our needs within a year’s time. Amazon’s instantly-scalable services allow us to invest in infrastructure that we won’t outgrow anytime soon.
February 17th, 2008 at 8:21 pm 6
Will there be an increase in site fees along with this too?
February 17th, 2008 at 8:58 pm 7
Hi David,
I don’t believe there are any immediate changes to fees planned to coincide with the launch, but I do know that the fees for certain categories are being re-evaluated.
The Premium Sites category, for example, based on the high average sale price it is attracting, may be going up in price slightly in the near future.
February 18th, 2008 at 12:36 pm 8
It’s good to know that the premium section will go up in price as some of the sites have a serious amount of revenue and can well justify the cost. Although I can only see the same for established and turnkey happening too as capital gain will always be there and at the end of the day, Sitepoint is a business
February 19th, 2008 at 12:04 am 9
I would like to see you get the Buy It Now module sorted, its a top feature, as a buyer and seller I love the fact I can get in close a deal and move on quickly.
February 19th, 2008 at 8:51 am 10
Please don’t lose the “Buy it Now” feature! Part of the appeal of visiting Sitepoint for me is being the first to find that bargain site! You’ll be taking a lot of the excitement out of Siteppoint by losing the BIN. Let the feedback system deal with buyers or sellers who renege.
February 19th, 2008 at 6:55 pm 11
why would you get rid of the BUY IT NOW option? Thats one of the main reasons i sell on sitepoint. you should consider revising it, such as emphazing when someone uses the BIN feature, they should contact the seller immediately to show they are a real bidder. backup BIN offers or other pending offers can always be made at the same time. I dont see why you would lose such a great feature!
February 20th, 2008 at 4:40 am 12
Same here. I don’t understand why you think that BIN feature is useless when there’re plenty of auctions ending with it.
Sometimes the buyer wants to overpay a little just to get his website faster and with no competition. Why would you not to allow this for him ?
I’m clueless on your motives…
February 20th, 2008 at 7:05 am 13
Can’t wait for the improvements!
Definitely raise the price of Premium sites - I think $100 with an automatic featured display on the front page would work. Mind you, there should also be a way of stopping the turnkey crap getting listed in Established sites - hope that is also addressed.
Ratings and profiles will be a welcome addition!
February 20th, 2008 at 8:39 am 14
I like the Buy it Now option — it’s how I purchase all the sites I’ve purchased here on Sitepoint. I don’t see why you would get rid of something that works for many. Why not just require the bidder and auction holder agree before it’s enacted and then everyone can still enjoy that feature?
I hope with all the changes you’re also moving the site to a faster server. It’s the slowest website I frequent. Even slower than trashy gossip sites hosted on Live Journal with 100 huge images embedded into every page. *sigh*
February 21st, 2008 at 1:54 pm 15
Update: By popular demand, Buy It Now (BIN) has been reinstated for the 2.0 launch. Read the announcement.
February 22nd, 2008 at 2:00 am 16
Please do something to enforce the term “established”!
THere should be a minimum amount of time a site has been live for with available traffic and rev/exp data.
I suggest one year min. If you can’t provide traffic and rev/exp data for 12 months, it is not an “established” site.
February 22nd, 2008 at 10:09 am 17
meegwell, the established date is one of the category constraints that will be enforced by Marketplace 2.0’s new listing wizard. To begin with, listings in the Established Sites category will have to have an ‘established’ date of at least 30 days ago.
February 22nd, 2008 at 10:37 am 18
Great changes. I think there should be fees based on the ending price and you can offer a more affordable starting price. The premium sites was a good idea but I have noticed some sites that are not premium there. It should have an approval process.
February 26th, 2008 at 8:19 am 19
I am EXTREMELY happy with the current SitePoint marketplace and have have made a really nice chunk of money over the last year. :’>
The only thing I would change is the ability for bidders to bid above the BIN price. Each time I have sold a site here multiple bidders have wanted the site and are willing to pay me 5K, 10K more than my BIN’s. So accept offers over and above the BIN while I am in negotiation with potential buyers.
February 26th, 2008 at 8:31 am 20
zuneone,
In Marketplace 2.0, we’re moving to the eBay style of Buy It Now bidding, which only allows Buy It Now bids to be placed when there are no accepted normal bids on the auction.
So if normal bidding takes off on an auction, the sale price can definitely go above the original Buy It Now price.
February 27th, 2008 at 3:20 am 21
Derek: thanks for the reply. Where did 30 days come from and should/would you consider a higher number? I guess additional feedback from others would help? Also, by “established” is that simply the date the domain was registered? Thanks.
February 27th, 2008 at 6:32 am 22
I don’t see these changes being as necessary as the RULES BEING ENFORCED.
Why are HALF the sites in “established websites” NOT established? All I see are turnkey sites from the same usernames: cyber1973, ScriptsPoint.com (who happens to also be Leo777), among others. These guys are just selling cheap, unestablished websites. This pollutes the listings and makes it unfair for people trying to actually sell established websites.
People say they are having trouble selling turnkey sites by listing in the turnkey section. Well, maybe no one WANTS to buy turnkey sites? I’m sure I’m not the only one annoyed by people trying to make a quick buck in that section right now.
February 27th, 2008 at 6:35 am 23
OK, I didn’t read the above comments before posting, so apparently my issue is being addressed.
February 27th, 2008 at 10:28 am 24
meegwell,
30 days seemed like a reasonable restriction to start with without causing too much upheaval within the marketplace. There will be enough confusion with the brand new UI, so we want to minimise any game-changing rules changes initially. I’d say it’s fair to say the 30-day rule will be up for review once we’ve had a chance to see how people use Marketplace 2.0.
February 28th, 2008 at 12:39 am 25
I think it will be a good feature to get marketplace profile with:-
1- Link to the previous auctions the seller (or buyer) has opened before.
2- Link to the previous posts the seller (or buyer) posted in all auctions.
3- Link to the feedbacks (iTrader in VB) that the seller (or buyer) got for previous trades (auctions).
February 28th, 2008 at 12:29 pm 26
Well I don’t think a 30 day restriction is enough to qualify it as an “established” website. You’ll just have those guys selling the same turnkey sites but waiting until the domain is 30 days old. Something also needs to be done about the guys just picking up expired domains and selling it in established sites as “aged” domains. Domain sales should not be in established sites either…
February 29th, 2008 at 3:47 am 27
@scripteen
The profile page will indeed include any previous auctions posted by that individual, as well as any classified ads posted by that individual.
The new marketplace also features its own custom feedback system and that information will be made publicly available.
If sellers don’t follow through with their promises or misrepresent their offerings, or if buyers bid but don’t pay, they will incurr negative feedback from the other party.
March 11th, 2008 at 12:22 pm 28
Too much crying here…what’s left for the baby.Any changes would be great and thanks for making sitepoint a great marketplace!!