Wigix.com - Trying to Out-do eBay

Wigix which stands for Want It Got It eXchange, is prepared to be what eBay is not. It’s an online marketplace that does away with hidden fees. The setup is inspired by financial market price matching—buyers and sellers can list the prices they want to see, thus eliminating auction scams and giving sellers a competitive edge. The fees charged are as follows: items sold for $25 or below aren’t charged a cent, above that and up to $100 $1.50 is charged to both seller and buyer. For items above $100 there is an added 2% tacked on. Eventually the site will add a ticker showing recent transactions along with charts showing the movement of prices. Even if you don’t sell anything Wigix is giving away cash to so called homesteaders—those who help build the site’s catalog, earning 5% of the revenue. Users may also become category experts, keeping items in one’s category accurate, thus earning you 1% of that category’s revenue. Soon to come are persona storefronts. In the meantime, Wigix is homing to become the next eBay, in fact users can already import their eBay catalogues.

“About Wigix, the Want It Got It eXchange.
Wigix.com brings a new, smarter way to buy and sell online.
Keeping Fees at Bay
There are no hidden fees for Wigix community members.
For items sold between $25 and $100, $1.50 is charged both to the buyer and to the seller. There is an additional 2% of the portion above $100 from the seller if the price goes over $100. There is an additional 1% of the portion above $1000 from the seller if the price goes over $1000.
For items below $25, there is no transaction fee.”

Wigix is offering a remarkably extensive and viable alternative to eBay. The setup has been well thought out by those behind the marketplace. It’s more user friendly and transparent than its competitor. It’s a sound way of selling goods at a lower cost to the seller and at a better rate for the buyer.

One problem with Wigix is eBay itself. eBay is a huge competitor with an entrenched user base. It’s got the infrastructure to deal with disputes, frauds, international sales, etc. Wigix is starting out and will have to build up its own reputation. Also Wigix doesn’t really give users enough information about a product besides the SKU.