It is not a lot of money, but a strange way to attract new business. I have not come across this before. I am afraid it did put me off bidding.
‘exclusivity’ is attractive to some, even if it’s manufactured artificially
Like people who pay dearly to bring Louis Vuitton plastic bags onto a plane.
Might be a way to discourage fraudsters or deadbeats from bidding.
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Would probably be an easier sell if they explained the reasoning behind the fee. David’s guess is probably in the right ballpark, something to try to discourage things like fake accounts for shill bidding is my guess.
I wouldn’t have as much a problem with this if they credited that fee towards future purchase. I might even tolerate a higher registration fee if done in that manner.
If I wanted to sell wines, I would find this very unattractive. I would want as many people as possible bidding while this would seem to limit bidders.
And cheapskates.
I just received this response, and yes, it was their explanation.
“Whilst we take your point, from our perspective a nominal £5 charge is just one small way of trying to ensure that bidders are ‘serious’ and genuine, and to help minimise the possibility of malicious bidding. Buyer defaults, although rare, are hugely inconvenient to our sellers, and the registration fee serves as a small but effective disincentive in this respect.”
All I can say is, new customers are hard to find. Perhaps it is not the greatest of ideas to annoy them before they become customers. It certainly doesn’t benefit the seller when you reduce the buyer pool.
Well if one is a buyer, and 5 quid screens out other competition, that might actually be a net benefit if one wants to buy at the lowest price.
Considering the ramping up of buyers (and presumably sellers) premiums, the industry has to be inventive to identify new income streams 