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Wigix: Auction is Overrated, Let’s Do It Nasdaq Style!

By Eliane Fiolet, Posted on Apr 29, 08 06:00 AM PDT

Emporia Life Plus Handset for Oldies

Today, Wigix is launching its online stock market platform for goods, aiming to replace the eBay auction model. The Wigix system is based on the bid/ask model used by NASDAQ and most of the other financial stock markets. Sellers offer any price for their items and buyers can pay the proposed price or offer another one. This new type of online trading will help to eliminate some problems related to e-auctions such as shilling and sniping.

Features include: the absence of listing fees, all trades occur immediately (unlike eBay), sales data tracking enabling users to get accurate market prices.

As a real Web 2.0 application, Wigix provide some social networking and community features: blogging, friends list, sharing, Facebook data access, inventory tracking... In addition, users can become category experts and get a share of their category sales, they can also become SKU owners: any user can add a new item which is not yet registered in the Wigix database, making them the “owner’ of this item’s SKU, they receive a share of all future sales of this specific item. Finally! User generated content that is not for free!

I played shortly with the application: it is very easy to use, you can start right away to add items to your inventory, and search for goods and prices. It seems less painful than eBay to sell your old gadgets quickly and find new ones… The community needs to grow, Wigix is just launching.

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By Reen Sterling , 29/04/08 10:14 PM (CommentID #658006)


I just got on the Wigix site. I think it's a lot of fun. I don't really care that it asked for my paypal info - I didn't have to give it to them (yet!). Sure security is an issue - I'm sure they're working on it - it's a BETA, (duh)! It says I can make money in a few different ways - refer a friend, submit an item that is not in the catalog, be a category expert. Well, I registered and submitted an item. What's more, I'll be referring my friends - the contests seem fun !!!

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By sciencefare , 29/04/08 4:34 PM (CommentID #657736)


The site looks promising, and I registered. However, I hit a very troublesome roadblock in the verification process.

The site asks for your PayPal account information, email address and PASSWORD! The site also wants your eBay member ID and PASSWORD!

This coming from a new site that has no trust built up. Additionally, NONE of the pages are secure. Not registration, not login, nothing. NO security, no encryption.

So, at least until I hear that SSL is implemented, I won’t be going back. The request for my PayPal and eBay passwords is the most disturbing part. Do the folks that run this site actually believe that the masses will entrust this sensitive data to them?

I will not.

-sciencefare

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