As I see it Bonanza just sank their ship which we all expected anyways.
We will not pay a listing fee for having listings on an empty non traffic driving platform and we will not pay the existing advertise on top of a new FVF.
As it stands we use from the “Choose your advertising level” “Basic 9% max fee” yet we seem to get charged over 10% in many cases so no idea what is going on there.
But the email we just got says they are adding a new 11% Final Value Fee and we can CHOOSE to advertise the way we have been which would mean 9%(really 10%) PLUS their new 11% Final Value fee? 20% total fee per sale to keep things the way they were(dead).
AND charging monthly fees for listings? +$20 automatically?
We did a year of Gold a few years ago and it did NOTHING for us. I mean nothing. Turbo traffic was some sort of joke we never sold on those days. More like bot traffic.
Am I reading this wrong?
If so it is triple cost at 9%(choose your ad level) + 11%(new final value fee) + $20 a month(listing fee).
Sounds like we have to delete all of our listings(to stay under 50) and stop advertising just to stay near the same rate it has been 10% even though we pick 9%.
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Thank_You_Cards Reputation: 221 See Thank_You_Cards' booth |
This is the letter I just sent to customer [URL removed]
Dear Bonanza Team,
As a long-time seller on Bonanza, I was deeply disappointed to read your recent announcement regarding increased final value fees—and even more so by the introduction of listing fees. One of the main reasons I chose to sell on Bonanza was your commitment to a no-listing-fee model, which aligned well with my business goals.
Unfortunately, this new fee structure does not complement my current business model. As a result, I’ve made the difficult decision to transition away from the platform. Please provide detailed instructions on how to close my three booths, which currently contain nearly 200,000 items, before these changes take effect.
While I am saddened to part ways with Bonanza, I believe my business will be better served by focusing on other platforms, such as my own website, eBid, and eBay.
Thank you for your time and support over the years.
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vintagepaperads3 Reputation: 21 See vintagepaperads3's booth |
12 Comments
It seems that whomever was in charge of rolling out the (dubiously legal) ‘pay us $2 for every label you DON’T purchase through Bonanza’ idea a while back has had yet another brilliant idea, which will drive an already small user base away from the site. With the shipping label decision, the (sort of) rethought it and probably realized it was an idiotic idea. With this one, who knows? Every big online retail site is leeching more and more from sellers. But the thing is, they can, because they hold monopolies. Bonanza can’t, so I’m not sure what they’re thinking. I suspect most people, like you, will just delete most of their listings or their entire booths.
If I’m reading the email correctly, it’s not an 11% fee on top of the 10% fee, it’s a minimum 11% fee. So, at least 11%, plus whatever potentially arbitrary rate they decide to charge.
Letting Bonanza know you won’t stay on the site if these changes roll out is definitely a good thing to do. Bonanza cannot afford to try to be just like other retail sites.
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Kulamoa Reputation: 72 See Kulamoa's booth |
Probably another Quincy decision!!! Im out Im not paying 11% and listing fees on a site I get no sales on. I’ll just list everything on my own website. This is ridiculous!!!!
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Elizavella_Designs Reputation: 124 See Elizavella_Designs' booth |
I am already set at 13% listing fees, but on every order, once they add it to shipping and add on their .25 transaction fee, my fvfs are actually usually around 15%, and then we have the paypal fees on top of that. I have 8500 listings. I am not paying an insertion fee on each listing. ANY listing fee is too much based on the few sales I have. [URL removed] March saw 5 sales totaling 125.00 with shipping. So, subtract the shipping I paid, (about 30.00, the fees I paid on my BNZ bill, and the fees I paid paypal per transaction, and I brought in about 70.00 (COG not included in example). There is no way I can afford to take out more money in listing fees with so few sales and such high fees already. I can list for free on Posh, Mercari, and Depop. What a joke.
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downrightspecialkids Reputation: 103 See downrightspecialkids' booth |
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