How does this type of auction work then?
Check out our How Stakka works page for a concise overview. If your query is more specific, have a read through the questions below but if you’re still unsure you can always contact us and we’ll be happy to help as much as we can.
What are the costs of using Stakka?
There are no up front costs. At Stakka, we only make money when you do…
What is a buyer’s premium?
The buyer’s premium is a 5% charge, which we automatically add to the price seen on screen so the buyer sees price they will pay up front. The buyers premium is capped to not overprice sellers items.
What is a seller’s premium?
The sellers premium is a 5% charge that we deduct when an item is sold, which is also capped to ensure you don’t get charged too much. If the item is sold through our deposit scheme we will deduct these fees from the deposit amount, allowing you to settle the balance outside of Stakka if you wish.
What is a listing fee?
Our flat listing fees will only be charged when an item sells. This will be 50p for items up to £200, and £1 for items over £200, although at the moment all listing fees are completely FREE.
Do I have any account fees?
No, we only charge based on the items that are sold and all Seller fees are deducted automatically from the buyer’s deposit so Seller’s don’t have to rack up and settle monthly account fees.
How does the deposit process work?
When an item sells, we ask the buyer to make a payment to stop the time wasters. For an item value up to £200 we will take the full amount, over that and we’ll ask for a percentage of the item’s value, up to a maximum deposit of £500.
The deposit process gives peace of mind to the seller that a buyer is genuine. As a buyer, you have the security of knowing that the seller will only receive the final amount from the sale once you have received the goods.
Is my money safe?
Of course — we take the greatest care when it comes to financial details. Our checkout uses an incredibly secure third party to process payments, who process billions every day on behalf of some of the worlds biggest online businesses (although not quite that amount for us yet). Stakka never directly stores your card details.
What is the Stakk?
The Stakk is essentially just the list of stuff that’s for sale, which can be filtered like most other websites. You can create your own Stakk of items you want to watch.
We however, rate each item using a secret formula based on normal things like price, how long the auction has left and more complex things like a sellers rating, and how many times an item has been viewed or saved. We use a traffic light system to categorise top rated items, and those with a high rating will be returned first when a user is browsing the site.
What if the item isn’t as described?
From the very beginning we want to instill that all Stakka users are honest, genuine and fair. All sellers will be reminded to be as accurate and describe items as best as possible, including as many images as needed.
If an item is not as described, or a buyer is not happy for any other reason, we will encourage both parities to arrive at a suitable outcome.
We are not set up as a mediation service, but are happy to help whenever possible. We want to ensure all sales through Stakka leave both users happy and continue to use our service.
Our ratings system will be used to show future buyers and sellers just how honest, genuine and fair you are so it’s in everyone’s interest to play as nice as possible. Items from honest sellers will also be returned higher than those who have had multiple issues. We won’t enforce automated strikes for any bad behavior but will speak to both buyers and sellers to come to an agreement.
Can I just contact the seller and buy the item outside of Stakka?
We’re not oblivious to this, in principle you can. However, we have built Stakka on the basis of trust between the buyers, sellers and us.
If we notice that there are certain accounts with lots of suspicious activity with items being prematurely removed, then we may take action to remove them from the site. We’re certainly not going to be all big-brother and put barriers in place to prevent direct contact between buyers and sellers.
The more happy sales we make allow us to continue to grow our features and create a true community that can benefit from this alternative auction platform.
Is there a Stakka app?
Not just yet. The website is optimised for mobile and provides all the features that we can provide at the moment. We have an app in the plan as we grow the service, along with refined versions of the website.
Registered users will of course be notified whenever we release new features or the apps become available so sign-up if you haven’t already.