GoTo.com Gets Clients Into the Auction Game
ChannelFusion, which launched today, links a retailer's inventory system to more than 200 auction sites.
The technology integrates into a company's back-end inventory system to allow it to post items directly on auction sites. When an item is sold, ChannelFusion handles payment and fulfillment.
This technology should quell the fears and concerns suppliers have had with online auctions, according to Scot Wingo, general manger at GoTo Auctions, Morrisville, NC.
"There's a lot of interest in getting to the auction channel, but there are large barriers of entry," Wingo said. "ChannelFusion eliminates these barriers for companies that really want to sell items through auction, but couldn't because of integration factors and the complicated decision making involved."
This is accomplished by the system as it "integrates with a company's existing catalog system," he said. "If a site has five diamond rings and they are sold, [the system] takes the winners' information and puts it into fulfillment, and it's shipped -- just like it was bought in their online store."
If suppliers have questions or concerns, they can work with a ChannelAdvisor. These advisors are auction sales experts who help companies decide where to sell the items, how long the auction should be, item pricing, and how to present the item.
The setup fee for this technology runs from $10,000 to $50,000. GoTo.com earns 5 percent to 10 percent commission for all products sold. Five companies are participating in a pilot program to test the system.