The opening of Gmarket in Singapore may finally shed some light on why Yahoo Auction was closed so suddenly. Gmarket is a well-known e-commerce marketplace (with online auction feature) based in South Korea. And in association with Yahoo! Singapore, Gmarket will be launched here in November 2008. Currently, Gmarket Singapore is still on trial but here’s what to expect!
As a Buyer
You will enjoy a piece of mind when buying at Gmarket Singapore due to the following 2 reasons:
Firstly, your purchase will be protected as Gmarket will hold the money (you pay Gmarket first). Once you have confirmed the sale and receipt of the item in good order, Gmarket will release the money to the seller.
Secondly, during registration, all sellers are required to undergo “Seller Authorization” which is a compulsory verification process whereby Gmarket Singapore demands sellers to submit documents such as NRIC, Bank Statement & etc before any money will be released to them.
As a Seller
You will enjoy a variety of options to maximise your selling opportunities and they are as follows:
Firstly, a Mini Shop (your own storefront on Gmarket Singapore) where all your items for sale are found, will be provided to you for free.
Next, Gmarket offers 4 kinds of selling options and they are:
- Sell at Fixed Price
- Sell at Fixed Price with Discount Feature
- Sell at Price that can be Negotiated
- Sell to The Highest Bidder (above min price set by seller) via the Auction Platform
Thirdly, Gmarket Singapore runs loyalty programs such as discount coupons, G-Stamp (points earned by carrying out certain activities on Gmarket that can be exchanged for discount coupons) and Gmarket mileage (miles earned for buying selected items).
Finally Gmarket charges the seller a service fee (inclusive of payment processing) ONLY when a sale is completed.
Visit Gmarket Singapore today!
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