New Online Auction Site Called SlammingBids.com

[rsot]

That's a fail :( oh well - it tried.

[Sandy D]

I called this one above.

It would be the last thing I would put my money and time into trying to compete with already established auction sites.

Esty has done it but they had one of the best business plans to come out in a long time. They lured the yuppies with money and now expanded and are growing like crazy.

[imjustme]

I doubt Etsy had any business plan when they started. Rob (the founder) was just a kid and I believe even now he's not on the board doing decisions anymore. It was just plain luck.

[Sandy D]

Originally Posted by imjustme

I doubt Etsy had any business plan when they started. Rob (the founder) was just a kid and I believe even now he's not on the board doing decisions anymore. It was just plain luck.

He had a target group of people to go after. Therefore his plan of luring yuppies with money was his plan and it worked.

All businesses has to have some luck but this one started with the idea of grabbing a particular group and now has expanded to yet another group with lots of money to spend.

[SellingKing]

Just tried checking your site out and its not even up?

[slim jim]

Originally Posted by SellingKing

Just tried checking your site out and its not even up?

You are a quick one

[imjustme]

Originally Posted by Sandy D

He had a target group of people to go after. Therefore his plan of luring yuppies with money was his plan and it worked.

All businesses has to have some luck but this one started with the idea of grabbing a particular group and now has expanded to yet another group with lots of money to spend.

That's true. At the same time I think it will be Etsy's downfall to expand into other markets because they will lose that particular group that made them strong. And without them, they'll be just another marketplace. The same thing happened with Bonanza.

[Sandy D]

Originally Posted by imjustme

That's true. At the same time I think it will be Etsy's downfall to expand into other markets because they will lose that particular group that made them strong. And without them, they'll be just another marketplace. The same thing happened with Bonanza.

Greed kills good businesses every time.

The yuppies love the 1950-70s items and that is what they are marketing more the the hand made stuff right now.

I sell a lot in this group and many of my customers from ebay has purchased from me on etsy.

If they expand beyond this group they will just be another dust in the wind.

Hopefully they wont.