Member Article

ebay specialists plan to make millions from unwanted stock

A new company has launched in County Durham to help businesses capitalise on the selling power of Internet giant, ebay. Bayagent.co.uk is selling surplus and redundant equipment from firms across the region via the online marketplace which attracts a global audience in excess of 200 million. Bayagent is the brainchild of e-commerce entrepreneur George Kinghorn, co-founder of dot.com phenomenon studentmobiles.com, who has teamed up with Colum Smith, formerly business development director at Eversheds, after the pair met via networking experts, the Bridge Club.

Bayagent initially values any potential sales item using historic trading figures of similar goods sold on ebay. If the customer is happy with the valuation, a legal contract is signed between the two parties. Bayagent collects the items, which are then insured and stored at secure warehousing in Durham ahead of being photographed and listed on ebay at a time determined to capture a particular market.

George said: “The power of ebay is immense but you need to understand how to maximise the money you make – which is where we come in. “I’ve learned over a number of years of trading on ebay when the most opportune times are to list goods. You need to be certain your potential customer base is online when an auction is due to finish.”

Alex Shiel, partner at Ward Hadaway, who are advising Bayagent on its contract agreements, said: “It was very pleasing to be able to help George and Colum to get bayagent up and running. “The company has hit upon an excellent idea which harnesses the huge global marketplace that eBay offers. Let us hope this is another North-East IT success story.”

Bayagent wants to hear from any North East companies with surplus stock that is available to be traded on ebay. For more information, visit www.bayagent.co.uk.

This was posted in Bdaily's Members' News section by Ruth Mitchell .