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by This email address is being protected from spam bots, you need Javascript enabled to view it on Tuesday, 21 October 2008
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The region's leading online auction site Souq.com is now a firmly established digital marketplace, regularly helping buyers and sellers in the UAE, KSA and Jordan to make extra cash and bag some serious bargains. Here WINDOWS teams up with Souq's in-house experts to help you reap more from the popular site.
With the absence of an eBay auction portal for the Middle East, it wasn't wholly surprising when in 2005 someone - in the form of Souq.com's founder Ronaldo Mouchawar - stepped up to the plate to fill the much-needed gap.
So, are you looking for a great price for your next iPhone? What about flogging those old PC games you never play any more? Then this guide is designed with you in mind. We'll start first with a little advice for would-be buyers...
Buy right
Money to spend? Start here...
If you're a complete newbie, this is the buying process:
Log onto Souq.com, pick your country site using the top-right pull-down bar.
Either browse by product category or enter a specific product name using the search bar.
When you've found an item you like, examine its listing description carefully - making sure it is the exact model you need and the correct format (Blu-ray not HD DVD etc.).
To be sure, also check the seller's rating by clicking on the number to the right of their username. (The resulting page explains what percentage of buyers have given positive, fair and negative feedback, plus can you read these users' actual comments).
If you have any questions, submit a query or two to the seller by clicking 'Ask the Seller a question' link in the Question & Answers section underneath the item listing's photo gallery.
Once you have won an auction or bought a fixed price item, choose one of the seller-defined payment methods.
The main payment methods are Cash On Delivery (using Souq's courier partner), digital payment using the so-called Souq ‘MyWallet', or via private arrangement between buyer and seller (i.e. arranging to meet up in person to swap money for product).
The COD service is free for items weighing less than 5kg and, according to Souq's Lutfi, 60% of items sold through the site do go through a site-related Escrow process (COD or MyWallet); of which a huge 60% use COD.
SOUQ.COM: In brief
Owner: Maktoob Group Company
Launched:
Jordan, July, 2005 (languages: English & Arabic)
UAE, September, 2005 (languages: English, recent Arabic soft-launch)
KSA, November, 2007 (language: Arabic)
Usage stats
270,000 unique per month (UAE)
Average 8.4 million page impressions per month (UAE)
Trends
KSA country auction site's growth in first 2 months equivalent to UAE's in first year.
Coming up:
Cross-border selling between three Souq.com country markets
Product drop-off points for offline sellers (possibly run franchise-style)
SOURCE: Souq.com management
Owner: Maktoob Group Company
Launched:
Jordan, July, 2005 (languages: English & Arabic)
UAE, September, 2005 (languages: English, recent Arabic soft-launch)
KSA, November, 2007 (language: Arabic)
Usage stats
270,000 unique per month (UAE)
Average 8.4 million page impressions per month (UAE)
Trends
KSA country auction site's growth in first 2 months equivalent to UAE's in first year.
Coming up:
Cross-border selling between three Souq.com country markets
Product drop-off points for offline sellers (possibly run franchise-style)
SOURCE: Souq.com management
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