Bypassing the online auction scams | Breakthrough Funding

Thursday, May 19, 2016

Bypassing the online auction scams

SOFTWARE DEVELOPMENT - The story of selling second hand furniture to your Mum’s best friend’s cousin

The problem

StubHub, eBay and GumTree are all well-established auction and swap sites, but they’re open to manipulation and online scams. Postage and packing ‘inflation’, chargebacks, ‘lost in the post’, second chance offers etc. Even if buyers receive their purchases in good order, they may still have been exposed to ‘shill bidding’. This is bidding that artificially increases an item’s price or desirability. To prevent shill bidding, eBay rules prevent anyone bidding on items being sold by friends, family or work colleagues. 

The solution

The creation of a clever online auction and swap noticeboard and payment system, to allow a closed community of friends to buy and sell between themselves. The technology was built from the ground up to include a new type of payment system and interaction between buyers and sellers via social media. 

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