Trading Post, an Australian classifieds paper, has launched a new auction format on its existing online classifeds website. In addition to listing items for sale in a classifieds format (print and online), sellers are now able to use auction and Buy Now formats. The site offers free insertion fees through September 30, 2008. There is a commission fee of 50 cents for the first $10, plus 5% of the selling price of items that sell for between $10.01 - $100.
Telstra-owned directories company Sensis acquired the Trading Post Group 4 years ago for $336 million (http://www.theaustralian.news.com.au/story/0,,23474289-7582,00.html). Sensis CEO Bruce Akhurst said in a press release, "Introducing auctions opens up enormous opportunities for us to accelerate our growth online and capture a significant new market of buyers and sellers."
The Trading Post newspaper comes out each Thursday and is read by 725,000 people each week. In March 2008, the Trading Post website reached 2 million unique visitors for the first time.
The launch of auctions at TradingPost.com.au comes as eBay imposes a PayPal-only policy on its Australian marketplace. Hundreds of sellers, banks, competitors and other organizations complained to the Australia Competition and Consumer Commission that the policy would lessen competition.
TradingPost.com.au allows sellers to accept payment with PayPal, Paymate or bank deposit
eBay PowerSeller and President of Australia's Professional eBay Sellers Alliance, Phil Leahy, was cited in the press release. "Our members are in the business of trading online and anything Trading Post can do to help competition by providing a more flexible environment and more affordable alternative, we support," he said.
The Trading Post announcement stated it was focused on providing personalized customer support by phone and email and a security program to verify the identity of online traders. Trading Post requires people to supply an Australian address to register on its site and offers a Verified Trader program that allows buyers and sellers to verify themselves through a free 100-point identity check with Australia Post.
Trading Post partnered with technology providers Intershop and FAST to develop the auction format.
http://www.tradingpost.com.au/Help/Selling/Placing-an-ad/Auctions
