It should be possible in SA for people to generate substantial income through online auctions, says Biborbuy CEO Andy Higgins.
He says that in the US, up to 500 000 people make a living by trading on eBay.
Higgins says there are some barriers in SA, chief of which is poor Internet experiences. The other two significant barriers are culture and education.
For example, while about 90% of house sales in Australia are effected through auctions, in SA a house auction is associated with liquidation.
However, he says such barriers can be overcome.
The company is embarking on a programme to teach people to see how online auctions can be a viable source of income, and how brokers can also be agents for people without Internet access.
"In SA, content is king," he says. "If you have the right products at the right price, people will buy them."
He believes the South African market is large enough to support the concept. "If you take just the six million top people in SA, they are possibly sophisticated enough. Then it just boils down to educational and cultural challenges."
Asked whether there was anyone in SA making a living out of online auctions, Higgins replies: "In SA there are several people who are not there yet, but who make thousands every month to supplement their income. Some of them are close."
He adds that the rise of stores like Cash Converters and Cash Crusaders is encouraging, because it shows that this kind of buying and selling is taking off and that there is a market for it.
"In SA we have a pertinent situation with unemployment and white males complaining they can`t get work. I believe they can make more money trading on our site than the average employer would pay them."
Share
