Boocoo Auctions Closing today!

[3dfuzion]

Boocoo auctions will be closing their doors today. With what little sales i got from the site, no wonder it couldn't even make a dint in the online market place.

We put the awe back in auctions - Buy and Sell online

[imjustme]

Strange. And with so little notice? They weren't huge but certainly had a good amount of items listed, probably in the hundreds of thousands. With good investors and the right people, it could have taken off like Bonanza or Etsy. Makes you wonder if there isn't a personal reason behind the quick closure.

[MM78]

Never heard of it, lol...Now i know why.

[jamcocktail21]

Never heard of them as well

[TGMT²]

“ After almost three years, the online auction site boocoo.com will cease operations on December 7, 2012.

boocoo originally launched in July of 2010 as a joint venture with newspaper outlets across the US. Unfortunately acceptance in the online auction community came slowly, and our traffic has grown stagnant with virtually no revenue to offset ongoing maintenance, hosting, and production costs. This continuing situation has lead to the decision to cease operations. Though we’ve definitely tried our best to turn boocoo into a success we just can’t justify the ongoing expense associated with the site with no realistic expectation of reaching a break-even point in the foreseeable future.

If you have any outstanding sales please make sure to reply to this email or contact us at boocoo@boocoo.com so we can make sure to match you up with your buyers before boocoo ceases operation. We will also be contacting buyers who have not yet paid for their purchases.We appreciate the support we’ve received from all of you, and sincerely apologize that you may not see the returns from effort you’ve also put into promoting the site and for the lack of additional notice of our shutdown. Any fees owed to boocoo auctions will be wiped out, and we wish you all the best.”

boocoo auctions Staff

[Futuremogul888]

I'm playing the world's smallest violin for Boocoo Auctions. It's business natural selection.....If you suck you close down. I'm surprised they made it 3 years. Guess they were finally tired of losing money.

[imjustme]

With the amount of items listed, they should not have been losing money. Lots of potential going down the drain here.

[3dfuzion]

Originally Posted by Futuremogul888

I'm playing the world's smallest violin for Boocoo Auctions. It's business natural selection.....If you suck you close down. I'm surprised they made it 3 years. Guess they were finally tired of losing money.

+1 They were dumb founded and so was their IT Web department. No Google checkout or google product search uploads by Boocoo for sellers. I milked it for what it was worth with maybe 20 sales over nearly a 2 year span. That's one website i never got kicked off from no matter what i sold Boocoo left me alone and charged only if an item sold. Their seller fees per item sucked and were to high. It had to come to an end and so did selling anything even if it was clicking and popping on another site. I got more sells off the ecrater compared to Boosuck. Boocoo bye-bye thanks for leaving sooner then later....

[3dfuzion]

Originally Posted by imjustme

Strange. And with so little notice? They weren't huge but certainly had a good amount of items listed, probably in the hundreds of thousands. With good investors and the right people, it could have taken off like Bonanza or Etsy. Makes you wonder if there isn't a personal reason behind the quick closure.

It was ran by a bunch of retarded cave men.

[madmuppet303]

Never heard of it either

[Futuremogul888]

Originally Posted by imjustme

With the amount of items listed, they should not have been losing money. Lots of potential going down the drain here.

I love your business philosophy. I'll call it the no-evidence-approach to profit evaluation. So if I open a consignment shop filled with a huge amount of items but have little to no buyer traffic, then I should not be losing money? Great deduction just based on listings.

[imjustme]

Originally Posted by Futuremogul888

I love your business philosophy. I'll call it the no-evidence-approach to profit evaluation. So if I open a consignment shop filled with a huge amount of items but have little to no buyer traffic, then I should not be losing money? Great deduction just based on listings.

I think you misunderstood my business philosophy. It's not the the huge inventory with no traffic that should have kept them afloat, but there certainly was a potential for interested investors to invest in them and keep them afloat until they reach profitability. It's what Etsy and Bonanza for example have done and it's what other businesses with a potential to succeed usually do.

Etsy had a huge inventory before 2010, but didn't reach profitability before that year. They received over $30 million in funding between 2007-2012.