Oct30th

NAXCOM to Launch Auctions, Compete with eBay

By Adam McFarland | Posted at 6:44 pm | Filed Under eBay, NAXCOM

In a move we all knew (or at least hoped) was coming, powerhouse cards and collectibles site NAXCOM has announced that starting on November 7th they will unveil an auctions section to compliment their immensely successful marketplace. Over the years, NAXCOM has been the buying and selling platform of choice for serious collectors (the site has only 120k users that account for over 9 MILLION active listings) because of their advantages in organization, buyer/seller protection, and a plethora of other differentiating factors.

In a press release sent to SportsLizard yesterday, they essentially assert their superiority over eBay:

“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.”

The NAXCOM Auctions will have a lot of features and benefits that customers have been requesting. The main attribute associated with the NAXCOM Auctions will be their exclusive Buyer/Seller Protection. The new NAXCOM Auction system will have the winning bidders make their payment to NAXCOM, rather than pay the seller of the item directly. That way, the buyer’s payment is now protected against sellers that either don’t mail out their item or send the wrong item. And sellers are protected too as once their items are delivered to the buyers as advertised, they will receive their money directly from NAXCOM and not have to worry about chasing down “Deadbeat Buyers”. With other auction sites struggling with Fraud, it is this unique Buyer/Seller protection that will make NAXCOM Auctions the safest venue for buyers and sellers.

In addition to its Protection Service, NAXCOM will offer sellers No Listing Fees, Lower Transaction Fees and no extra fees to offer a Buy It Now, Start or End an Auction at a specific time, Extended Auctions (up to 14 days) or to add up to three additional images.

eBay will always be huge because of its dominance of the entire online auction market, however NAXCOM can and hopefully will entice most serious collectors to give it a shot. New services like this usually have the classic “chicken and egg” problem of not having any sellers because there are no buyers, and vice versa, but NAXCOM’s existing user base makes NAXCOM auctions highly intriguing. I’m interested to see how the first few weeks go and the first wave of transactions are handled.

If their other new features like private offers, seller performance feedback, and combined shipping pan out along with the auctions, it’s definitely a possibility that they can dominate the market rather quickly. They are probably the ONLY company in the industry that has the money, programmers, and experience to legitimately compete with eBay. On behalf of every collector - we’re rooting for this to work NAXCOM. Competition is always a good thing, and maybe eBay will be forced to hire some people that actually understand the industry to upgrade their collectibles auctions.

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