Need some opinions on new idea for my business.

[Heath Ledger]

I own an auction site for knives swords collectibles etc. I've had it for a while put quite a bit of time and money into it but never found the time to use it.

Well now I think it's time.
What I'd like to do is make it into sort of an interactive shopping channel using something like Ustream, (I'm actually using livestream at the moment)

Id like to have a show a couple nights a week eventually maybe every night where I do product reviews, chat with customers, and the kicker be able to haggle with customers to make deals, and also list items on the site very very cheap in an auction format that only lasts 10 minutes.

Here is my idea for the fast auctions. Say I pay $10 for a samurai sword normal retail for that sword is anywhere from $20-$30. So I start it off at $12 to ensure I make some profit(20 percent) but also have a buy it now where its marked up to $15 (50 percent).

So here is where it gets interesting, you can either place a bid in hopes of getting it basicly at wholesale, or right off the bat snatch it at the buy it now price which is still well below retail. I will only put a quantity of 1 per 10 minute auction I list.

Im just curious as to some people on here's thoughts who often shop online. For the most part the ebay normal auction format is dead. Most sales are now done via buy it now, nobody wants to wait 3 5 7 20 days for an auction to end, they want instant gratification. With my format the most you will wait is 10 minutes(however if a bid happens the last minute the auction extends for 30 seconds)

Please let me know what you think about the video/interactive portion of it and the auction format of it.

Basicly Im hoping that I build this up to something where Im doing dozens of sales each night making a few bucks per sale. Maybe only doing these quick auctions 2 or 3 hours per night to drive up demand. For instance stun guns $5 bucks over my cost I think I would sell a ton of them. Say I sell 10 in one night thats 50 bucks off of just one product. Do you sell the potential if Im selling dozens if not hundreds of products per day?



Your thoughts are appreciated.

By the way the site is http://www.bladeauctions.com its not live yet but my video feed is up right now as I do some testing so feel free to pop in you can chat with me in the video window or goto http://www.livestream.com/BLADEZTV to do the same.

[MiamiHeat]

interesting.

as a matter of fact, I was just about to start the same exact business.

damn, coincidence. Let me go create my account on livestream now for my new business, that I was already starting I mean.

Thanks

[Heath Ledger]

Could have sworn I blocked your posts.

[TDMVPDPOY]

ever thought about gay advertising links to ur site? might help traffic.....

[tlongII]

I think you should be a professional poker player.

[PM5K]

I don't know if that's the most effective way of advertising your business, but I can't fault you for trying to be unique.

[Trainwreck2100]

say whatever you sell increases the size of the penis and in a year you'll be set for life

[Vinnie_Johnson]

How many people in these crappy penny saving times are spending money on swords? Just saying sell something that will move in these times like Porn and Booze.

[Heath Ledger]

People are still buying without any advertising in the last month ive done $7000+ in sales on my site, i shut down advertising because of the move.

When David Carradine died we did a little over $10k in sales in 3 or 4 days on the autographed swords we still had left.

So believe it or not this shit sells great.
I've got a gig with UMA in the works right now as well as a product in development with Michael Madsen.

[RuffnReadyOzStyle]

Just what the world needs - more people buying more shit they don't need.

Don't mind me, I'm just a rationalist, as opposed to a consumer.

(PS No offense intended Heath - I'm having a go at the system under which the world operates, not you in particular).

[sabar]

Life would sure be fun just spending money on food, water, and doctors!

I can't say I think less of someone for owning a $20 replica sword when people have houses with 32 bedrooms and private jets.

[PM5K]

I don't get it, you did 7K in sales last month and rather than continue to do what works, and improve on it when possible, you want to do something totally different.

And instead of selling items with a normal markup of 100-200% you want to sell them for as little as 20-50%?

[LnGrrrR]

Just what the world needs - more people buying more shit they don't need.

Don't mind me, I'm just a rationalist, as opposed to a consumer.

(PS No offense intended Heath - I'm having a go at the system under which the world operates, not you in particular).

That guy in Baltimore would disagree with you.

Hey Heath, maybe you should market it as a form of self-defense? See if you can get that John Hopkins kid to market for you! :D

[TDMVPDPOY]

either sell to underage kids?

or webcasts of t he product itself at work, either slicing up a vegetable or fruit etc...watermelon?

[Ed Helicopter Jones]

Just what the world needs - more people buying more shit they don't need.

Don't mind me, I'm just a rationalist, as opposed to a consumer.

(PS No offense intended Heath - I'm having a go at the system under which the world operates, not you in particular).

Everyone needs a hobby, Ruff. Attending professional sporting events could be considered frivolous by your definition, yet I see a pretty cool pic of you and the Admiral in your avatar.

If people want to collect cheap swords, I don't see how that's any worse than paying hundreds or thousands of dollars to watch guys play basketball.

[Ed Helicopter Jones]

That being said, men who collect Samari swords are all closet homosexuals.

[Viva Las Espuelas]

interesting concept, heath. i'm kinda with everyone when they say "why swords?" and all that, but i understand that's what your business is. maybe go with more in-demand items. i don't personally think swords and all that will make this take off the way you'd hope. plus while you try and sell those someone else might take your idea and sell in-demand items. as far as the auctioning part of it, how fast will that be? will it be in a chat-type format. one advantage to that is that i know people hate the way ebay is set up to do auto-bids and all those ebay bid programs. i'd see that as an advantage for your project. work it up, take it to Shark Tank.

[PakiDan]

I feel you... and would like to offer you a free market analysis. Let's start out with your model demographic:

http://www.personadondada.com/wordpress/wp-content/uploads/2008/10/fat-nerd-boy.jpg

[CosmicCowboy]

I don't get it, you did 7K in sales last month and rather than continue to do what works, and improve on it when possible, you want to do something totally different.

And instead of selling items with a normal markup of 100-200% you want to sell them for as little as 20-50%?


uhhh...that marketing strategy worked pretty good for Wal-Mart...

[Heath Ledger]

Why would I sell at 20-50 percent markup instead of 100-200? It's all about volume. I woud be like the "wal mart" of the knife and sword industry. People want their shit and they want it cheap, there is a ton of competition in my niche and I've done fine but nobody with such a business model.

I sell more than just swords, i sell pocket knives, hunting knives, self defense products such as stun gun, pepper spray, armor, helmets, spears, crossbows. I have access to probably 5000 or so different products to sell to keep it fresh. Ive quickly realized this is the wrong place to ask for opinions. I've been here long enough to where I should have known that.

[EricB]

Just what the world needs - more people buying more shit they don't need.

Don't mind me, I'm just a rationalist, as opposed to a consumer.

(PS No offense intended Heath - I'm having a go at the system under which the world operates, not you in particular).


Just what we need, more people telling people how they should spend their money.

No offense, I'm just someone that believes in that people should be left alone and not preached at what they should do with their own fucking money.

[EricB]

That being said, men who collect Samari swords are all closet homosexuals.


Hmm, Tim Duncan collects them.....

[gay abc]

That being said, men who collect Samari swords are all closet homosexuals.

if only

:downspin:

[PM5K]

uhhh...that marketing strategy worked pretty good for Wal-Mart...

Just because it works for Wal-Mart doesn't mean it works for everybody.

Having to do up to ten times the work to make the same amount of money isn't always the best idea.

You also admit it's a niche business, I'm not sure I've ever heard of anyone using the "Wal-Mart" business model with a niche business.

[nuclearfm]

first I would hire a few dozen or so illegal immigrants while you can. They're not even really employees, so nobody will know about it. They could get your knives shiny and handle your cameras. Afterwards you can turn the in to ICE and say they dealed drugs when your done with them. It's the patriotic thing to do, we need to get this economy going.

God Bless the USA and the internet.

[Heath Ledger]

It is a niche but it's a pretty damn big niche. In a down economy people are looking for bargains which I was I want to do. I think I can turn over a very high volume and make more money than I currently am. Sure it will be a lot more work but I think it will be worth it.

[ashbeeigh]

What are our competitors selling similar items for on ebay? What are their shipping guidelines/gimmicks?

When I shop on ebay (more like browse) I make sure things are relatively close in price, are authentic, and the person still has a good rating. The thing that gets me to consider to buy the item is shipping. I hate thinking that I have to pay $20 to ship a $20 item.

[PM5K]

It is a niche but it's a pretty damn big niche. In a down economy people are looking for bargains which I was I want to do. I think I can turn over a very high volume and make more money than I currently am. Sure it will be a lot more work but I think it will be worth it.


If it's worth it to you then that's all that matters.

Personally I don't really like your auction website, since you run it you can easily manipulate your feedback, your ID verify is meaningless, I don't get any of the protection I'd get with eBay, and while I may receive some protection though PayPal you don't advertise it in any way, and instead of being able to simply see a price and be able to decide if I want to buy something quickly and easily I see all of this other information that simply complicates the whole process.

If you know people don't want to buy auctions, why on earth would you start an auction website?

And rather than focus on the website you currently have, and doing things like increasing your page rank (Which I believe is only a 3), doing some spell check (Broad sword is only one word not two: Broadsword) and setting yourself up on ResellerRatings, you want to spread yourself as thin as you possibly can.

I'd work on some of those things, and do something similar to your idea but through the website, maybe a setup where an item starts off at 20% over cost and increases in price by 10% per minute until it gets to MSRP.

Kind of like Woot but without a separate auction site, which works perfectly fine for Woot.

I do like the video idea, maybe you can be the King Of Cars but with swords, call yourself The King Of Swords and have a couple of characters that show off the swords, knives, etc.

[circ]

Ive quickly realized this is the wrong place to ask for opinions. I've been here long enough to where I should have known that.

/thread

[bendmz]

AUCTION....... set up a weekly site and hold auctions for all that shit you have. invite all the looney tunes that work the flea markets and yard sales. I know a guy that does this up in Tenn. and he makes a killing. now all he does is call the auction and other folks come in and sell their stuff.... worth looking into....

[Ed Helicopter Jones]

Hmm, Tim Duncan collects them.....


I'm shocked that you'd accuse Timmy of being a closet homosexual.

[The Final Countdown]

I have quickly realized this is the wrong place to ask for opinions. I've been here long enough to where I should have known that.


Don't let the no pussy getting asshats gets to you. many of us who like these topics just choose to read and not reply.

I must say there are at least six assholes that are roaming ST these last few weeks and you managed to get at least five of them to reply to your topic, good job!

And Good luck on your business. :tu

[Heath Ledger]

PM5K the site is not live yet still some design work and coding going on, just added twitter functionality where when I list an auction I can at my choice have a tweet sent out with the description and link.

Because my payments are through paypal they do have buyer protection, and since you are such a smarty pants you will know that you always do a chargeback on any transaction through the internet and get your money back pretty much 100 percent of the time.

Trust me I get screwed all the time. I did say the actual auction format is stagnant mostly because shopers are impatient, they don't want to wait for the auction to go on for days to find out that they may have won, when someone else may have it for a bit more and they can do a buy it now, my format is the best of both worlds, there is a great discounted buy it now price well below retail and if youd like to take a shot at the pretty much wholesale price, you only have to wait 10 minutes for the auction to end. Not days. And if you miss out on one auction, guess what? Another one will be listed in 10 minutes for you to try again.

My intention is to have a show a few nights a week and have it on for only a few hours per night, it helps peak some excitement and a call to action.

Im confident I can get people there as I have a mailng list of close to 10,000 customers just from my hanzoswords.com website and over 10,000 from my amazon account/ebay account

The Id verification is more for not leting yahoos just sign up and bid on shit and not pay, The Id verficiation is going to cost a couple dollars but be refunded upon a buyers first purchase. What it does is tie the buyer to a credit card/address so if they fuck with my site I have a trail of some kind.

[Jeff Probst]

Can you sell art work?

http://www.facebook.com/home.php#/photo.php?pid=151503&id=1683611204

[MiamiHeat]

I am happy to announce our grand opening on Monday.

We sell all kinds of swords and things you would like for your collection!! 20% prices!!!

[Heath Ledger]

Im excited to announce MiamiHeat is still a douche bag.