SITES TO SELL ON OTHER THAN AMAZON OR EBAY: Bonanza - An Honest Review

Posted by Big Brand Wholesale.com on 9th Apr 2020

In 2020, Bonanza has come in at the top of the list for “Sellers Favorite Platforms” based on ease of use, fees and overall satisfaction. We have successfully sold stuff on Bonanza, so we can 100% assure you that the platform is totally legit, usable and people do buy stuff. Now that that is out of the way...

FEES vs TRAFFIC

Which is more important to you as a seller? Would you pick “Lowest Fees” or would you pick “Highest likelihood of sales”? If you would rather have the lowest fees possible because you don’t mind sitting on inventory longer, Bonanza and eBid.net are probably the best sites for you. On the other hand, if your goal is making money as fast as possible (lesser profit but more sales), then Bonanza shouldn’t be your first pick (unless you already have an eBay shop and plan to sync for the free bonus marketing - we will discuss this more in a moment)

COMPETITION

Although Bonanza doesn’t have eBay traffic levels, what Bonanza does offer is less competition. Think of it like a mall; in one mall there are 300 stores for someone to buy from so there's a lot of mall-shoppers but if every store is selling the same black t-shirt, what are the odds of JC Penny selling the black t-shirt versus Kohls, Macys, Target, Forever 21 or Bloomingdales selling the same tee? Then there’s another mall across the street. This mall is much smaller. It only has 10 total stores so it doesn’t get as many shoppers but the odds of selling the black shirt greatly increase because there’s less stores for the buyer to choose from.

eBay is the giant mall; on eBay for every 10 shoppers there is 1 seller. Whereas on Bonanza, for every 1,300 shoppers there is 1 seller. As you can see, you have substantially less competition!

COST TO SELL ON BONANZA

Like eBay, Bonanza charges “Final Offer Value” Fees (AKA: “FOV”) - this is the same as “commision”, “referral fees”, “closing costs”, “final value fees”, etc.

For comparison; Amazon fees are around 20% (YIKES), eBay is around 10% but also charges listing fees, Walmart comes in at 15%, eBid only charges 3% and Bonanza gets you for 3.5%, however it is free to list on Walmart, eBid and Bonanza.

Here’s a couple examples of Bonanza Fees:

OUR RATING:

We have to give Bonanza three stars, although if they can get more traffic to their site we would love to give them 4 or even 5! We chose 3 stars because the pricing isn’t bad; it’s the second cheapest site (eBid is still less). But you genuinely cannot expect to build a business here because it just doesn’t have the visibility that it’s competitors have. So, If you are new to selling and trying to decide which platform is best for you, eBay is still our #1 choice. Once you have built up your eBay feedback you can sell on Walmart then Amazon.

If you already sell on eBay or Amazon, you can also sell on Bonanza because you can instantly import all of your listings; this opens up yet another selling channel with very little work. However, as many sellers have pointed out; when an item sells on eBay it does not always sync with Bonanza, so you’ll have to check Bonanza to ensure the sold item is officially off the site because you don’t want to double-sell something you only have 1 of.