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TWay's Rate Structure Makes It an Attractive Online Auction Alternative
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Added: 09/09/2005
Type: Summary
Viewed: 307 time(s)
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TWay's Rate Structure Makes It an Attractive Online Auction Alternative
TWay.com, an online auction site that offers a very attractive commission structure, is a great alternative to better-known but more expensive auction sites.
TWay offers lower rates by keeping its costs low and its overhead under tight rein.
For example, TWay operates with a lean-and-mean professional staff. Compare that to eBay, which had more than 8,900 employees in the US and around the world as of June 30, according to documents eBay filed with the Securities and Exchange Commission last month.
EBay’s payroll and its other overhead obligations provide a significant opportunity in the online auction business to sites such as TWay.
“EBay’s overhead is illustrated by its huge army of workers,” said Dean Burnetti, TWay’s president. “EBay users who want to know why eBay must charge so much need look no further than that.”
EBay lists its ability to find, hire and retain employees as a potential threat to its business.
“Our future success also will depend on our ability to attract, train, retain and motivate highly skilled technical, managerial, marketing, and customer support personnel,” EBay said in its report. “Competition for these personnel is intense, and we may be unable to successfully attract, integrate, or retain sufficiently qualified personnel.”
Rather than envisioning a huge online auction empire, TWay’s founders instead looked at ways for keeping rates and overhead low and service high. The result is a streamlined auction site that puts buyers and sellers first, and does it effectively with a modest-sized staff.
An example: TWay does not charge listing fees of any kind.
“Listing fees and high overhead costs deliver a significant blow to sellers who need to keep the value of the items they sell,” Burnetti said.
TWay.com’s success has resulted largely from its lack of listing fees and its slimmer overall commission rates – rates that are significantly lower than those found on EBay.
ABOUT TWAY.COM: TWay.com moves online buying and selling to the next level with unparalleled flexibility, options and service. It also offers marketing partnership opportunities to savvy entrepreneurs. |
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