New online Marketplace!

[kdbarker]

Let me start by saying that I have been a member of this forum since 2008, and I want to thank everyone from the bottom of my heart for all the info that all of you have (unselfishly) provided to this wonderful forum.

My interest in gold started over 20 years ago with a program on TV. Since then I have prospected and mined in Alaska, Yukon, and Quebec, then got into the scrap business.
I have used Ebay for both buying and selling precious metals for years but started to get a bit jaded by the requirements, and the ever rising fees associated with Ebay and Paypal.

It is for this reason that I have been (for the last year) working on an online marketplace for everything precious metals. I have since got out of the scrap business and have gone “all in” on this project.

My goal is to create a marketplace for anything and everything that has to do with precious metals. This will include precious metals of any kind in any form(coin, bullion, scrap, etc), prospecting and mining equipment, recovery and refining equipment and supplies, claims/property, etc.

At this time I have a launch date of April 1st (and no this is not an April fool’s joke).
The site will be open for anyone to buy and sell for FREE until July 2nd. You will NOT need a credit card to create an account, just go to the website and sign up. Payments between Buyers and Sellers will be the responsibility of the Buyer and Sellers.

The site will be in auction format with "buy it now" functions and categories custom tailored for this market only (no beanie babies or bobble heads).

On or around July 2nd 2012 sellers will be charged a 2-3% final value fee (much less than other sites), for listings created after July 2nd, and may be subject to a small listing fee for certain items at that time.

Now, I wanted to come to this forum first because I was hoping to get feedback once the site is launched. I’m sure the site will need “tweeking” and of course I will always be looking to make the site and the experience better for the user. I could not ask for a better group of professionals and enthusiasts then can be found right here at the Gold Refining Forum.

Any thoughts/questions?
Thank you.
Keith Barker

 

[MiguelRosas]

Let's play some devils advocate, and give you some tough criticism if that's okay.
As a business owner (a website on the side myself), I can appreciate the feedback you want.

1) Why would I pay you 2 - 3% of the value, if I can sell scrap / scrap coins / bullion for 99% of spot (or better) to a refinery? ---- this is not assuming a numismatic value
2) How am I as a "buyer" protected against fraud?
3) How am I as a "seller" protected against non-payment / fraud?
4) Is there a listing fee - even if my product doesn't sell?

That's all I can think of right now without seeing the site - look forward to it though.

M

 

[kdbarker]

Let's play some devils advocate, and give you some tough criticism if that's okay.
As a business owner (a website on the side myself), I can appreciate the feedback you want.

1) Why would I pay you 2 - 3% of the value, if I can sell scrap / scrap coins / bullion for 99% of spot (or better) to a refinery? ---- this is not assuming a numismatic value
2) How am I as a "buyer" protected against fraud?
3) How am I as a "seller" protected against non-payment / fraud?
4) Is there a listing fee - even if my product doesn't sell?

That's all I can think of right now without seeing the site - look forward to it though.

M

Thank you for the comments
1. yes, if you have a good relationship with a trusted refinery you will get 99% or better for "certian items". Some items (Gold nuggets, some coins) can be worth more than spot to specific buyers. I thought I had a good relationship with a trusted refinery until one day they took me for several thousand dollars. The marketplace would be just another outlet for selling some of those items that just don't "fit in" with what some refineries deal with. Some small lots of specific scrap might be priced better if sold to a buyer that works with real large lots to save on lot fees and essaying fees.

2. As a Buyer - This is where a potencial buyer will have to take some time and contact a seller, review feedback, ask around (maybe on this forum) before pulling the trigger on a purchase. I've seen members on this forum locate "scams" and bad auctions on ebay. I can tell you that if you found a scam auction on my website, I would take action. My background includes Law Enforcment and I do plan on doing my best to protect members.
The real problem is that the more free/less restrictive and open a market place is the more chances there are for fraud. Its unfortunate, but I will have to find a balance.

3. As a seller - take only the type of payments that you will be comfortable with. If you want to be protected 100% from charge backs, than don't accept paypal or any credit cards. Ask for check or money order and wait until payment clears... or for some larger items, just demand cash only on pickup or delivery.

4. No fees whatsoever for any auctions listed before July 2nd, 2012
After that a final value fee of 2-3% will apply, but the fee will cap at around $100. So if someone sold $100,000 worth of scrap it would still only cost them around $100
Listing fees - still reviewing - If applicable, they will be much less than typical auction sites.

MiguelRosas, thank you very much for the thoughts, and I do promise to keep a log of this feedback and review them.

Keith Barker

 

[kdbarker]

MiguelRosas,
Please don't take offense to my reply "I thought I had a good relationship with a trusted refinery..." It was not my intention to offend anyone, and I apoligize.
I know there are trusted refineries out there, but some poeple may not have access to them and some may have items that just do not fit in that category.
Again, thank you for the comments.
Keith Barker

 

[Anonymous]

I would love to have a place that I could sell Escrap and only lose 3%. I will give the first thumbsup on this Idea.And if it gets going I will definitely start putting some of my auctions over there.

 

[kdbarker]

I would love to have a place that I could sell Escrap and only lose 3%. I will give the first thumbsup on this Idea.And if it gets going I will definitely start putting some of my auctions over there.

Mic,
Great! Keep in touch!
Thank you.
Keith Barker

 

[fasTTcar]

Check out Spotmex.com

Less than 1% fee.

 

[MiguelRosas]

MiguelRosas,
Please don't take offense to my reply "I thought I had a good relationship with a trusted refinery..." It was not my intention to offend anyone, and I apoligize.
I know there are trusted refineries out there, but some poeple may not have access to them and some may have items that just do not fit in that category.
Again, thank you for the comments.
Keith Barker

8) Keith 8)

No worries whatsoever, never even took it offensively.
I know that a majority (if not all) people who have done business with some refiner have had a negative experience, and i'm doing my best to change that....one lot at a time.

Great answers, great idea.

 

[Anonymous]

I want to clarify that I am reffering to scrap items.I do not sell my pure gold on ebay.However I am excited over the idea of a new "marketplace" to sell on.

 

[kdbarker]

Check out Spotmex.com

Less than 1% fee.

Spotmex... looks nice, I like the layout, but all the items on this website would fall into only one category on our website. Spotmex looks great if you only want to buy or sell gold and silver bullion.
The new marketplace will be so much more than this. I'm pushing for anything and everything that has to do with PM, and have designed the categories as such.

Keith Barker

 

[Marcel]

Good luck with it, will check it out once it is up and running.

 

[kdbarker]

Should I start another post on "Refiners,Buyer, Assayers, etc." to post updates and more info when the site launches this weekend, or will this topic thread be ok? I just don't want to brake any forum rules.
Thank you.
Keith

 

[joem]

I will check this site out as well, will you have a section for requests?
Say someone wants 100 motherboards will the be an area for this?
What is the site address?

 

[kdbarker]

I will check this site out as well, will you have a section for requests?
Say someone wants 100 motherboards will the be an area for this?
What is the site address?

joem
No category for "items wanted" at this time. Not to say that this could not be added later. This is why I would like as much feedback as possible, once the site goes live.

We are working on last minute details and testing a few things, but if everything checks out we will be going live some time tonight or early morning tomorrow.
I will post the company name, web address, and as much info as I can at this time.
Thank you for your input!
Keith

 

[kdbarker]

We are now LIVE!

Our company: Precious Metals Marketplace LLC
Our Website: www.ThePMMarketplace.com

 

[joem]

We are now LIVE!

Our company: Precious Metals Marketplace LLC
Our Website: http://www.ThePMMarketplace.com

Created an account but can't log in.

 

[Palladium]

Did you verify your account thru the email link? Took me a couple of times to get in.

 

[joem]

Did you verify your account thru the email link? Took me a couple of times to get in.

Boom. In now.

 

[Claudie]

I created an account! I have about had it with Ebays ridiculous rules, limits, and fees. I think a lot of people are ready for a change. :|

 

[kdbarker]

I created an account! I have about had it with Ebays ridiculous rules, limits, and fees. I think a lot of people are ready for a change. :|

GREAT! Thank you and welcome!
Keith Barker
www.ThePMMarketplace.com