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Covering auctions, collectibles and marketplace selling.

AuctionBytes Blog The AuctionBytes Blog has been giving a voice to online merchants since its launch in 2005. Named one of the world's top 30 blogs in 2008 by "Blogging Heroes." Weigh in with your thoughts on the joys and pitfalls of selling online.
Tue Sept 21 2010 07:09:51

Bonanzle Changes Name and Buys Artisan Site 1000Markets

By: Ina Steiner
Sponsored Link
Online sellers are waking up to big news on Tuesday - the marketplace that attracted disgruntled eBay sellers 2 years ago is changing its name from Bonanzle to Bonanza and has acquired artisan marketplace 1000Markets.com.

Bill Harding launched Bonanzle in 2008 and raised $1 million in funding earlier this year, allowing the company to add to its small team - and to finally purchase the domain name Bonanza, as well as another Seattle-based marketplace.

1000 Markets is similar to Etsy and ArtFire, and only allows the sale of handmade, finished goods. Merchants who sold on 1000 Markets paid no listing or subscription fees, and paid 5.5% of the order total (inclusive of shipping fees) plus an additional 50 cents. The site used Amazon Payments exclusively; whenever a merchant made a sale, the full amount of the sale was immediately placed in their Amazon Payments account, and then the 100 Markets fee was deducted.

1000 Markets items will soon be listed on Bonanza, and its URL will redirect to Bonanza.com. Harding said Bonanza accepts Paypal, Google Checkout, and money order, so 1000 Markets merchants who choose to list on Bonanza would need to use one of those payment methods. Their listings will only show on Bonanza if they indicate they want that to happen, Harding said. It will be a very simple process to allow merchants to migrate their shops from 1000 Markets to Bonanza, he added, and said more details would be available in a FAQ.

Bonanzle also underwent some design changes in addition to its new name, which some of its sellers had insisted was necessary in order to grow - Harding talks about the reason for changing the name in the blog post announcement. (Bonanza is keeping its tag line: Find everything but the ordinary.) You can see both sites, Bonanzle.com and Bonanza.com, but in a few days, Bonanzle.com will redirect to Bonanza.com.

Sellers on "Bonanzle" who are concerned about what this means to Google SEO and traffic can read more on the FAQs launched overnight, where it says Google traffic will be reduced temporarily, but, "We expect that by the time the holiday season has started in earnest during October, traffic should be at levels equal to or higher than they had been before the transition."

See AuctionBytes Newsflash for details.

Warning 9/21/10: Do not use Twitter right now, do not go to the site at all, see AuctionBytes Forum.




Comments (73) | Permalink
Readers Comments

Bonanzle Changes Name and Buys Artisan Site 1000Markets   Bonanzle Changes Name and Buys Artisan Site 1000Markets
by: honeybunch
       
Tue Sep 21 08:04:20 2010
Hallelujah!  I've hated the name since I first heard it.  And telling people about the site was a losing game...they never remembered the name.  Not to mention that I *always* mistype it.  Bonanza is much easier.

Despite the admittedly real pain to sellers whose SEO will be temporarily affected and who have to re-do business cards and whatnot, I think this was a smart move.
Bonanzle Changes Name and Buys Artisan Site 1000Markets   Bonanzle Changes Name and Buys Artisan Site 1000Markets
by: Rich
       
Tue Sep 21 08:45:12 2010
Great name change.  What they need now is a marketing/advertising strategy because they have very few buyers. The same store items on Bonanza that are on Ebay have over 100 ebay sales for every Bonanza sale so Bonanza has been a complete waste of time for me.  The name change is an excellent first step.  
Bonanzle Changes Name and Buys Artisan Site 1000Markets   Bonanzle Changes Name and Buys Artisan Site 1000Markets
by: Former Ebay seller
       
Tue Sep 21 08:48:18 2010
Not impressed at all by the name change. A waste of time,energy and money.

Everyone I know will think of the tv show and not a marketplace to sell your goods.

No one takes the name Bonanza literally as in the dictionary, they think of it as a tv show. Sorry but that is the truth.


That and if you still hide your marketplace by not doing any advertising, the buyers still will not find it and sales will not increase. This was yet another another flub in ideas.

A name change does not mean trust or more sales.
Who loses? The sellers.

This was a major downgrade and nothing to write home about.

As far as the other marketplace they purchased, never heard of that one either.
Now they own 2 which most people that I know ever heard of before.

What a shame.





Bonanzle Changes Name and Buys Artisan Site 1000Markets   Bonanzle Changes Name and Buys Artisan Site 1000Markets
by: Allan Kraig
       
Tue Sep 21 08:54:02 2010
Still if theres no auctions to drive some fresh business what does it matter, It will just be that many more dissappointed sellers .. Even Bill harding has only been able to sell a hand full of items on his own site .. If you can't feed your family by selling there, then its just a hobby which eats a bunch of time with little results .. With auctions at least you'll have something sold every 7 days or so , win lose or draw!!
Bonanzle Changes Name and Buys Artisan Site 1000Markets   Bonanzle Changes Name and Buys Artisan Site 1000Markets
by: summer in the city
       
Tue Sep 21 09:25:02 2010

Glad to see another move to increase the artisan sector of online sales: it seems to blend very well with vintage.


As far as people associating Bonanza with Ben, Adam, Hoss, and Little Joe, well...we might be at the point in time where most online shoppers don't remember the TV show or perhaps never heard of it. (As a little kid, I never missed an episode!)

IMO this is a good move and it will be interesting to see how it plays out.




Bonanzle Changes Name and Buys Artisan Site 1000Markets   Bonanzle Changes Name and Buys Artisan Site 1000Markets
by: Helen Highwater
       
Tue Sep 21 09:32:34 2010
I welcome this news with open arms and much enthusiasm!

Just like another poster (''honeybunch'') I've always disliked the name ''Bonanzle''. Although it was unique it always had the potential to be heard as ''Bonanza'' and first time visitors probably wouldn't type in the URL correctly.

Whenever I spoke of Bonanzle, it was always something along the lines of ''You should check out Bonanzle.com ... that's B-O-N-A-N-Z-L-E. No, not 'bonanza', it's bonanZLE... got it? No, not Z-E-L... Z-L-E.'' :-)

Good things are in store for us, people!
Bonanzle Changes Name and Buys Artisan Site 1000Markets   Bonanzle Changes Name and Buys Artisan Site 1000Markets
by: guest
       
Tue Sep 21 09:35:21 2010
Really bad timing, IMHO. Those poor sellers are going to flatline during the CHristmas shopping season. A really poor business decision that affects thousands of sellers who rely on Sep - December sales to keep them afloat.
Bonanzle Changes Name and Buys Artisan Site 1000Markets   Bonanzle Changes Name and Buys Artisan Site 1000Markets
by: Renagade
       Web Site
Tue Sep 21 09:39:49 2010
Personally I am normally for a rebranding BUT only when it is called for due to some change.
To spend two years pushing your customers to help you get your site branded, only to change the name is a bad call.
My total 'rant' can be found on my blog - linked through my name here.
Ida, Thank you for clarifying the 1000 markets - I have included a link to your news article.
Bonanzle Changes Name and Buys Artisan Site 1000Markets   Bonanzle Changes Name and Buys Artisan Site 1000Markets
by: Ebay No More This user has validated their user name.
       
Tue Sep 21 09:44:57 2010
Instead of using that seed money to market and grow the business they acquired a second site. Not a smart move on the owner's part. Bonanzle needs buyers not a name change. I closed down because when the owners recommend churning sales from existing members it wasn't worth the effort. The goal is to drive buyers off Google and until Bonanzle's owners do the work to market the site and work with Google to attract Google buyers it won't grow. An utter waste of a seller's time and efforts.
Bonanzle Changes Name and Buys Artisan Site 1000Markets   Bonanzle Changes Name and Buys Artisan Site 1000Markets
by: Smallvillenw
       
Tue Sep 21 09:57:28 2010
Maybe they will be the ones who move out of the pack of also rans---About time someone did.

Good idea: Free listings until they start generating some sales.
Bonanzle Changes Name and Buys Artisan Site 1000Markets   Bonanzle Changes Name and Buys Artisan Site 1000Markets
by: I like it!!!
       
Tue Sep 21 10:04:12 2010
I really think that changing the name was the best idea yet. Simple names are better (Windows, Apple, Target) now Auctiva should take the same advise. In all honesty I have thought about listing on Bonanzle and Auctiva Ecommerce but I disliked their names too much.
Bonanzle is so close to Bonanza it was pure genius! Nice job!
Bonanzle Changes Name and Buys Artisan Site 1000Markets   Bonanzle Changes Name and Buys Artisan Site 1000Markets
by: ravensbag
       
Tue Sep 21 10:04:32 2010
very unhappy about this change, I spent 2 years marketing Bonanzle and my booth and now we are changing to a TV program Bonanza, maybe it will make a hit on the Comedy Channel. I rest my case.
Bonanzle Changes Name and Buys Artisan Site 1000Markets   Bonanzle Changes Name and Buys Artisan Site 1000Markets
by: Jay
       
Tue Sep 21 10:11:39 2010
Great Idea!
No one could remember how to spell bonanzle.
And as far as the TV show Bonanza only us OLD folks remember that.
The kids now days have no idea who the Cartwrights were.
Yea Haw
Bonanzle Changes Name and Buys Artisan Site 1000Markets   Bonanzle Changes Name and Buys Artisan Site 1000Markets
This user has validated their user name. by: David Steiner
       
Tue Sep 21 10:33:26 2010
I don't generally weigh in, but looking at this pragmatically, this is a good move.

Bonanzle was a difficult name to remember and spell correctly. I used to get a kick out of reading referrals (where people heard of AB and EPIS) and see the different ways their own sellers would spell it - Bonanazle, Bonzale, Bonnanzle...30% of the time, it was spelled incorrectly.

Bonanza isn't just a 60's TV show, it's a very appropriate name, for example, this definition:

a source, usually sudden and unexpected, of luck or wealth; an especially rich vein of precious ore

I'm not saying that this change is going to have buyers suddenly flocking to the site, but better to fix something early and have a name you can run with long-term.

Another benefit - if you Google the word Bonanzle, you'll get back about 970,000 hits. Google the word Bonanza, you'll get over 61 million. No telling how many people may serendipitously show up on Bonanzle - oops, Bonanza - by searching for that term.
Bonanzle Changes Name and Buys Artisan Site 1000Markets   Bonanzle Changes Name and Buys Artisan Site 1000Markets
by: Jan's Sister
       
Tue Sep 21 10:44:01 2010
Former Ebay seller said: ''Everyone I know will think of the tv show and not a marketplace to sell your goods. ''

JS: In 1994 I'm sure that Jeff Bezos heard something similar to this sentiment. ''Everyone I know will think of the South American river (or female warriors) and not a marketplace to sell books.''

Former Ebay seller said: ''A name change does not mean trust or more sales.''

JS: In and of itself, you're correct... but I think this is a short-sighted analysis and misses the big picture.

==========
Allan Kraig says: ''Still if theres no auctions to drive some fresh business what does it matter, It will just be that many more dissappointed sellers.''

JS: If sellers are expecting auctions, then of course they will be disappointed. From everything I've read and heard, they have no plans to add auctions to Bonanza.com (and they've been very clear and up-front about it) so the ones who are most likely to be disappointed are the ones who haven't been paying attention.

Allan Kraig says: ''Even Bill harding has only been able to sell a hand full of items on his own site.''

JS: I imagine he's busy doing other things and probably doesn't have time to sell. This is a good thing.

Allan Kraig says: ''If you can't feed your family by selling there, then its just a hobby which eats a bunch of time with little results''

JS: Could the same thing have been said about eBay in it's early years? I think it's fair to say that eBay was a site for hobbyists. I believe it's a mistake for people to expect Bonanza.com to become an overnight and instant replacement for eBay. People who want or expect that are setting themselves up for continued disappointment.

Allan Kraig says: ''With auctions at least you'll have something sold every 7 days or so , win lose or draw!!''

JS: Merely having 'something sold every 7 days' is hardly a goal that I'd aspire to achieve. I'd want to make a profit or have no sale at all... skip the ''lose or draw'' option. I think this comes back to the fact that Bonanza.com is not (yet) a replacement for eBay. It's an alternative... and a growing one. People who have the mindset (and hopes) that they can simply abandon eBay in one fell-swoop and fill the void by ONLY selling at Bonanza.com will end up being unhappy with the results.

JS: Lookit... I'm eager to fully leave eBay too. But I'm not going to trash Bonanza.com (or discourage others from trying it) because it hasn't yet reached its full potential.

==========
summer in the city said: ''As far as people associating Bonanza with Ben, Adam, Hoss, and Little Joe, well...we might be at the point in time where most online shoppers don't remember the TV show or perhaps never heard of it.''

JS: You're on to something. It's an age-related association... and it's not necessarily a negative one either. It seems to me that people who find something negative in the name Bonanza.com are of the mindset to ONLY look for the negative.

==========
Helen Highwater said: ''Although it was unique it always had the potential to be heard as ''Bonanza'' and first time visitors probably wouldn't type in the URL correctly.''

JS: This is correct. The new name is easier to say, understand, and spell.

==========
guest said: Really bad timing, IMHO. Those poor sellers are going to flatline during the CHristmas shopping season. A really poor business decision that affects thousands of sellers who rely on Sep - December sales to keep them afloat.

JS: Really? You think so? When would be a good time? ~~~ I think a similar ''this is bad timing'' argument could be made for ANY time of the year. It needed to be done, and now is as good of a time as any. It's difficult to imagine that they approached the name-change lightly... and there was obviously much thought, consideration, and planning that has gone into this change. (Take heart that it was done NOW instead of right after Thanksgiving.)

==========
Renagade said:  To spend two years pushing your customers to help you get your site branded, only to change the name is a bad call.

JS: Some people can't be satisfied no matter what.

==========
Ebay No More said: Instead of using that seed money to market and grow the business they acquired a second site. Not a smart move on the owner's part.

JS: How can this not be considered ''growth''?

Ebay No More said: ''Bonanzle needs buyers not a name change.''

JS: If one *only* looks at the name-change and ignore other improvements, then it's exceedingly easy to pick nits and find fault.

Ebay No More said: ''I closed down because when the owners recommend churning sales from existing members it wasn't worth the effort.''

JS: In other words, you want it ALL... you want it NOW... and you're not willing to give Bonanzle time to grow and develop. I see.

Ebay No More said: ''The goal is to drive buyers off Google and until Bonanzle's owners do the work to market the site and work with Google to attract Google buyers it won't grow.''

JS: Someone hasn't been paying attention.
Bonanzle Changes Name and Buys Artisan Site 1000Markets   Bonanzle Changes Name and Buys Artisan Site 1000Markets
by: good idea
       
Tue Sep 21 10:47:25 2010
The sooner the smaller sites meld into one the better for everyone.
More ad dollars. More traffic
More goods on one site.
Now add auctions and combine with ecater, ebid, etsy, artfire and on and on and eventually you'll have a site big enough to support small bis people and give ebay some competition.

Bonanzle Changes Name and Buys Artisan Site 1000Markets   Bonanzle Changes Name and Buys Artisan Site 1000Markets
by: kw
       
Tue Sep 21 10:53:35 2010
C'mon people, get real. Changing the name will get millions more hits on Google, and aquiring 1000Markets will enhance the site.

Unlike ebay these are changes that make sense and will make Bonanza grow even faster.  Not everyone on the planet thinks of Bonanza as a TV show.  This is going to be an even better site for collectibles and handcrafted products.
Bonanzle Changes Name and Buys Artisan Site 1000Markets   Bonanzle Changes Name and Buys Artisan Site 1000Markets
by: Seller
       
Tue Sep 21 11:17:05 2010
This is all cool and everything, but what about the site and getting advertising done which is what's needed to get the place growing??

And changing the name right now I think was a HUGE mistake. We are already into the buying season for the holidays.

This is going to simply become a horrid mess as sellers try to change all their links and RSS feeds over to the new address and name.

They should have at waited until after December to do this. Very poor timing in my opinion
Bonanzle Changes Name and Buys Artisan Site 1000Markets   Bonanzle Changes Name and Buys Artisan Site 1000Markets
by: On Lies and Secrets This user has validated their user name.
       
Tue Sep 21 11:22:08 2010
I had a terrible time on that site for the brief time I was there and a name change won't change the environment there nor will it change the user experience which needs a significant amount of work, IMO.  Driving more traffic to a site that isn't particularly well managed isn't the best long-term strategy - it would be much better to fix some of the serious user experience problems on the site *before* re-branding it. IMO, more traffic simply amplifies the existing problems and it won't fix them - it will just make the existing problems more widely known.

The company has spent money on the technology and how the site looks but has seriously neglected the social environment and the user experience - there is a lot of bad behavior, strife and overt aggression there which is not conducive to good business.  IMO, the site managers need to get their heads out of the sand and deal with the serious social problems on the site.  There is quite a bit of animus out there towards their site and ignoring the problems won't make them go away.  The name isn't the only reason (and probably isn't the major reason) why there are so few buyers on the site.....
Bonanzle Changes Name and Buys Artisan Site 1000Markets   Bonanzle Changes Name and Buys Artisan Site 1000Markets
by: Stupid Move
       
Tue Sep 21 11:40:13 2010
What a waste of capital!!!

Can someone tell me what the Amazon river has to do with books? Can someone tell me what an "eBay" is? Does anyone here know the definition of "Nike" or "Adidas"?

A company does not need a familiar or clever name to succeed. Rather than spend money on branding Bonanzle, the website is virtually starting over again with their new name.

The CEO should be fired.
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