A fully responsive marketplace listing and trading platform. Enabling and empowering users to list stock, but also to negotiate on price and transact in an intuitive and secure environment.
Stockshifters is Europe's fastest growing marketplace for wholesale, clearance and surplus stock. With a trade community of more than 100,000 members, Stockshifters works with some of the UKs top retailers, SME retailers, E-tailers and trade distributors to deliver efficiencies to the way buyers and suppliers trade goods.
Over time, 2 serperate sale mecahincs were created:
A typical auction format, the highest bid wins, with maximum bids being supported. To discourage 'Sniping' and to ensure every bidder has a fair chance of winning, a feature was devised and developed where any bid in the closing moments would reset the timer back to 5 minutes. Similar to how a real auction house operates. This had a positive effect on bids placed, prices achieved and has since been emulated by rival marketplaces.
A Timed Sale
Implemented to emulate the behaviour of haggling in the real world. The vendor can set an 'Ask' price at which a buyer can purchase the stock, or invite them to make an offer. The offers are made public and must exceed any previous offers. The vendor can also reduce their Ask price, which prompts all interested buyers to revisit the auction, and shows a willingness to make a deal. Typically, as the offers come in, the ask price comes down, as the 2 parties haggle to reach what is an agreed fair market price for the stock.