About Bonanza
Bonanza is an online marketplace that is very similar to eBay and Amazon. This online marketplace allows businesses and online shops to advertise their items for sale. Bonanza has numerous luxury items including handbags from Hermès and Chanel. These items are not listed for sale directly by Bonanza; each seller choose to place items for sale on their own without any approval from Bonanza. This requires you to be cautious when purchasing items from Bonanza.
Just like on eBay, sellers get star ratings and reviews by previous buyers. It’s important to read the reviews before purchasing an item in order to see what others have experienced. Bonanza does not authenticate the items listed on their site, so some sellers may sell fake bags or provide inaccurate information. Getting a refund is quite a tedious process since Bonanza does not offer any direct support. Instead, you must file a dispute with the payment processor used to make the purchase.
Bonanza was launched in 2008 by Bill Harding; an everyday guy who quit his day job to learn how to code websites. Mark Dorsey joined the team and became the official co-founder in mid-2008. Together, the built a large community that has become one of the most popular eBay alternatives on the web with over 10 million products for sale worldwide.
PROS
- A+ BBB Rating
- Safe & Secure Checkout
- Easy Web Store Setup
- Best Overall Online Marketplace of 2014 (EcommerceBytes)
- 50 Best Websites of 2014 (Time)
- Thousands of Items and Sellers to Choose From
- Connecting Buyers and Sellers Worldwide
CONS
- Returns Can Vary Per Seller
- Must Research Seller for Reliability
- Lengthy Refund Process
- Fees
According to the Better Business Bureau, Bonanza.com currently has over 90 negative reviews filed against them even though they have an A+ overall BBB rating.
Benefit
Sellers Get 3x More Shoppers w/ Pro Membership
One thing we good for sellers is Bonanza offers a Pro Membership with 3 package price points at $25, $55, and $167 a month that’s suppose to help increase your daily page views and says “Get 3x More Shoppers” with turbo traffic.
Voted Best Place to Sell Online
You will find just about everything being sold at Bonanza, which is similar to eBay and Craigslist.
Bonanza was voted “Best Overall Marketplace” by over 50,000 sellers who voted them over eBay, Amazon, and Etsy.com.
They were was named “Best Entrepreneurial Company in America” by Entrepreneur Magazine in 2016.
Selling Fees Lower Then Amazon & eBay
Currently, the selling fee is 9%, which includes 5.5% for Google shopping ads plus 3.5% base fee, whereas Amazon is 20% and eBay is 12% seller fees.
With minimal fees for sellers, good customer support and a simple web store set up process, signing up for a free trial here is simple.
Bonanza also only takes a small fee for each sale—and only at the point of sale, not when posting.
Buyers can make bids here, and the seller responds accordingly. It seems that buyers have unlimited bids, so there is a chance for negotiation.
