Sydney fruit and vegetable merchant Franco Lagudi has launched a new “buy and sell” website, The SOC Exchange, with the intention of going “head-to-head” with eBay in both Australia and the US.
The SOC (Superior Online Community) Exchange will combat eBay, offering flat rate membership fee of $10 a year, without further fees and no limits on the number of listings – covering consumer products, including household items, jewellery, electronics, furniture, clothing, toys and books.
Lagudi said “I am confident we can challenge eBay not only with the versatility of our platform, but also with our off the chain pricing policy. I believe eBay has forgotten about the individual and novice sellers, which is evident in their fee structure.
“The excessive costs that eBay and some of the other major online portals charge are over the top in comparison to The SOC Exchange, which gives its sellers the freedom of choice when it comes to receiving payments.”
The SOC Exchange offers sellers and advertisers the capacity to list almost anything – from video games, craft materials, cars and real estate to baby items, computers, sporting memorabilia, jobs and resumes.
Members who pay the $10 flat fee get their own, customisable website, loaded with value added IT features with unique URL, along with the capacity to add several images and even post a blog.
Buyers can register with the site free of charge and then browse the numerous categories, search by product name or within a set distance from their location, or go directly to a seller’s site. Buyers can also bookmark sites and register with their favorite sellers or advertisers for email updates and information on new products.
“Many users believe eBay is now too cumbersome and charging consumers too much in fees, in order to fund its world domination of the e-commerce market. eBay has stated it is targeting Australia for future growth as many of the markets it now dominates are mature with much slower growth rates,” he said.
“Many sellers on eBay are now drowning in fees and it is time a competitor took eBay head-on, with a more intuitive platform at an unbeatable price.
“The SOC Exchange is an extremely costly labour of love, however the results will be well worth the multi-million dollar investment in the end. The SOC Exchange has made its presence felt in the United States and is now ready to formally unleash its innovative platform on the Australian market.
“We are offering consumers a chance to own their piece of the net, and not simply line the coffers of eBay or other big corporate websites through a lack of choice. The SOC Exchange covers four important market segments: auctions buy and sell, real estate, automotive and careers.
“These four marketplaces are the cornerstone of the Australian online community and it is our job to keep this online space honest,” said Lagudi.
