The End of Ebay Part II
A few weeks ago I posted an Article on my first PeerHub Listing. I wrote the article from the point of view of a business owner or merchant, explaining how listing on Ebay and taking payments via Paypal can add up to about 13% of the total sale.
In this article, I will compare my most recent listing on PeerHub to my current listing on Ebay. I do not plan on selling the same item twice, since that is not possible, but will remove the non-selling listing from its respective site once the item does sell in one of the markets (if it sells at all). Here, I will demonstrate how PEERHUB can become a superior Marketplace for less expensive items, or what are called Micro-transactions, by creating savings for the consumer and possibly more sales for the merchant.
The "raisin" above Lincoln's eyebrow is not supposed to be there.
My Listing #2 - A Mint State 1958 Lincoln Cent w/ Error
As mentioned earlier, that bypassing traditional online sales platforms suchs as Ebay and payment platforms such as Visa, Mastercard or in this case, PAYPAL, can lead to cutting down the Cost of Goods Sold by about 13% for the business or sale merchant. This can also lead to a price savings for the consumer, should the sales merchant choose to lower his price to reflect the lower Cost of Goods, allowing the smaller business to become more competitive or more profitable or possibly both.
So I listed on Peerhub a 1958 P Lincoln Wheat Cent that is Brilliant Uncirculated and has a Die Chip Error on the Obverse, considered Rare in this Mint State. Click HERE to see this listing. The listing sales price for this item on PEERHUB is in STEEM DOLLARS at about $2.07 or $1.95 US Dollars. I have the exact same item listed on Ebay, Click HERE, except that the price is $2.59 US Dollars. By using a marketplace like PEERHUB, I can effectively lower the price of the item by about 25%, or in this case 0.64 cents lower.
This is where micro-transactions and micro-payments can now effectively go hand in hand. Micro-payments have been a concept of the internet for quite some time but due to the cost of taking "small" payments it has remained mostly an idea. With the advent of crypto-currency, payment transactions have been untethered from traditional payment and banking systems, bypassing all their "processing fees." These processing fees are not typically considered to be a big part of the expense of a normally priced item. For example, Visa or Paypal will charge a merchant who uses their services to process a payment, about 2%-3% of the Gross Sale with a .25 cent (US) to .30 cent fee. If an item costs $100, the the fee will be between $2.30 - $3.30 ( 2%-3%). The problem for micro-transactions becomes prevalent when the item for sale costs $1.00. Now the processing fee will be about 0.02 - 0.03 cents plus a .25 - .30 cents fee for about 27% - 33% of the Gross Sale. Now, with the combination of STEEM DOLLARS, a crypto-currency, and PEERHUB, a new sales platform allowing for the use of non-traditional payment formats (i.e. STEEM DOLLARS), micro-transactions and micro-payments can now finally take place to the benefit of both the consumer and the merchant. Ebay, it is time to "Get with it" or Move Out!
Full $teem Ahead!
@streetstyle
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