March 6, 2006 / New Zealand

Trademe’s ultimate auction!

NZ online auction house TradeMe has just been sold despite earlier pledges of “I won’t sell” by baby-tycoon Sam Morgan. He started up the eBay wannabe site in 1999 and despite attempts to compete it remains the dominant auction house in NZ.

But get this – he sold it for $700million! That’s alot of dosh being thrown around by Fairfax and it’s ex-All Black CEO David Kirk.

Stuff (also in the Fairfax stable) have an article on it: Fairfax acquires Trade Me for $700m. Lets hope Fairfax don’t spoil the magic!

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Tagsdavid-kirk Fairfax Sam-Morgan trademe

4 Comments

  1. sarahk
    March 28, 2006

    Oh, it didn’t take long. Big whinges in the paper today about changes to the fee structure at Trade Me.

    And we expected anything less?

  2. John
    December 18, 2006

    eBay raises its fees again to keep investors happy. (http://www.BidSell.com.au) Offers its no listing fee policy Globally.

    Sydney Australia December 10, 2006 — Due to the lack of competition in the Online Auction game, eBay is now the dominant player and in a monopolistic position. eBay recently announced that it will raise most of its fees again, to keep its investors happy.

    Leaving the big seller’s on eBay not so happy.

    At BidSell there are no fees for listing an item for sale. (No Sale No Fee Policy) No fees for eStores, Reserve price, buy it now, picture uploads ands on.

    BidSell has also introduced membership style plans.
    On the highest plan which is the Platinum plan for only $100(AUD) per month, a seller can list unlimited listings and they won’t pay any fees what’s so ever.

    BidSell today announced that it will expand its services to more countries. Giving sellers around the globe more choices (free or pay more & more)

  3. Sarah King
    December 19, 2006

    So long as we’re promoting other auction houses – take a look at TradeEzi

  4. Allen Harp
    December 31, 2006

    eBay has set the bar for all others to target. While the rates may rise, the serious sellers, the pros, can still maintain high margins on their sales. Ultimately the online customers will win out even if the shareholders complain. After all this time the company and their successful model are still the dominant force online when it comes to auctions.

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