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Ultimate Geek
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Topic # 160602 13-Jan-2015 09:56

Anybody else saw this?

http://www.computerworld.co.nz/article/563636/trade-me-leads-10m-capital-raise-nz-p2p-firm/
https://www.harmoney.com/

What are your thoughts? Having a quick read on there website I think the idea is good.

I was thinking about joining as a investor, anyone here already signed up as a investor?



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  Reply # 1212992 13-Jan-2015 09:57
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I'm not a big fan of TM personally. I hope their 'big cost/small service' ethos does not spill over...





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  Reply # 1213000 13-Jan-2015 10:00
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I have no interest as an investor or no interest for any other reason. 




Mike
Retired IT Manager. 
The views stated in my posts are my personal views and not that of any other organisation.

 

 Mac user, Windows curser, Chrome OS desired.

 

The great divide is the lies from both sides.

 

 


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  Reply # 1213047 13-Jan-2015 10:35
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The interest rates on their lowest rated borrower is 39.99%.

Christ.

Might give it a go with some spare cash - see what happens. Give it 6 months to see if it folds.

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  Reply # 1213300 13-Jan-2015 17:10
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Oriphix: 
What are your thoughts?


That TradeMe should spend their money on improving TradeMe.  FOCUS guys, FOCUS.





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  Reply # 1213317 13-Jan-2015 18:03
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sleemanj:
Oriphix: 
What are your thoughts?


That TradeMe should spend their money on improving TradeMe.  FOCUS guys, FOCUS.



What would you do differently?

Their market is saturated, they need new revenue stream, sharemarket demands growth.

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  Reply # 1213343 13-Jan-2015 18:52
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nathan:
sleemanj:
Oriphix: 
What are your thoughts?


That TradeMe should spend their money on improving TradeMe.  FOCUS guys, FOCUS.



What would you do differently?

Their market is saturated, they need new revenue stream, sharemarket demands growth.


A website that doesn't look like a 5 year old designed it and BUYER PROTECTION like Ebay!!!





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  Reply # 1213348 13-Jan-2015 19:07
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TradeMe do offer buyer protection with SafeTrader for a extra fee. If you think a deal is too good to be true(ie obscenely low buynow) don't buy it.

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  Reply # 1213364 13-Jan-2015 19:45
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nathan:
sleemanj:
Oriphix: 
What are your thoughts?


That TradeMe should spend their money on improving TradeMe.  FOCUS guys, FOCUS.



What would you do differently?

Their market is saturated, they need new revenue stream, sharemarket demands growth.


A search function that works... googling with "site:trademe.co.nz" is FAR superior to their useless on site search.

Clearly there's a business benefit from having a bad search since it's so comically bad, but I'm not sure what it is yet.

Cheers - N


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  Reply # 1213367 13-Jan-2015 19:55
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5 minutes of looking at the Harmoney site and all that stands out to me is the multiple dipping they take in service fees (on principal AND interest payments) as well as the wording which seems to indicate that in any loan default scenario they are 100% protected from any exposure themselves - the legal costs are passed onto the investor in total.

There's a reason it's great to be a bank, you make money lending out money that belongs to other people. These guys seem to have nailed it but still have managed to have a friendly looking website.

I suspect the only winners here will be Harmoney themselves. Trademe are investing in the platform, not in providing cash for loans.

Cheers - N


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  Reply # 1213368 13-Jan-2015 19:57
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Rappelle: [snip]
Never had trouble with their search? What's the problem with it?

Using site:trademe.co.nz is never going to be as good considering it relies on google having crawled the pages you're looking for


Searching expired listings, anything that has a number or funny spacing etc (like 1600cc, 1600 cc, GTX270)... I'm _experienced_ in searching and my internet use predates search engines and I still can't make the Trademe search functionality function as well as I would expect for a market leading site.

Cheers - N


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  Reply # 1213424 13-Jan-2015 22:31
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loceff13: TradeMe do offer buyer protection with SafeTrader for a extra fee. If you think a deal is too good to be true(ie obscenely low buynow) don't buy it.


That is a pretty poor cousin of what Ebay offers.





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  Reply # 1213425 13-Jan-2015 22:34
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nathan:
What would you do differently?



Sort by price + postage.
Crack down on people who charge high shipping prices because they sell the product at a loss.
Cart for internet banking payments (currently only Pay Now supported).
Ability to issue discount vouchers and run sale prices.
Ability to change the words "per item" to something more appropriate.
Ability to have multiple options for a product (choose colour, style...) and enforce selection.
REALLY enforce people sending address details (some still do not have to).
Internal messaging system.
...






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James Sleeman
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  Reply # 1214857 14-Jan-2015 14:44
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The interest rates in the low risk grades are quite low for unsecured loans.  In that grade, best case scenario is a modest profit after fees and tax.  Worst case is lose your money. 

In the high risk grades the interest rates are so high they are likely to cause default.

As for TradeMe, I would really like a search function that finds auctions with my search terms in their title.   This would avoid sellers who list A, but include a competing products B - J in their keywords.  This is a pain in the neck when you are searching for a specific item.




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  Reply # 1225414 30-Jan-2015 14:42
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Just got an email from trademe promoting this.
it's interesting, but I can't help wondering if this idea wasn't proposed by a debt collection agency.
The concept of lending money to someone without knowing who they are and no way of encouraging them to pay, hmmmmmm



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  Reply # 1225424 30-Jan-2015 14:58
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Trade Me Harm Money may be a better title...





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