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Competing with eBay - how to get Buyer and Seller protection like on eBay for my marketplace?

I am working on a creating a competition for eBay and I think one of the key value propositions could be providing Buyer and Seller protection similar to eBay's.

Back in 1990's eBay had Lloyd's of London provide protection up to $200 I think, now eBay covers much larger amounts.

So, 2 questions:
1) Should I even spend my time on Buyer and Seller protection like on eBay - is it essential ?

2) Anyone know the name of the insurance product that would do that?

Or, besides having deep packets yourselves, what would be the other ways of offering partial or full Buyer/Seller protection in case ether would take money/product and run?

Thanks in advance.
Max

4 Replies

Mark Sendo
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Mark Sendo Entrepreneur • Advisor
Founder, CEO, Forbes Contributor, Conference Speaker, TechCrunch featured story twice
What's Yiur marketplace Sent from Mark's iPhone5, please excuse misspelled words & phrases
Mohammad Forouzani
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Mohammad Forouzani Entrepreneur
CEO at Forecast.net
You could provide an escrow service - but that is very high maintenance and only really worthwhile for high pricetag products.
Jesal Gadhia
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Jesal Gadhia Entrepreneur
Full-Stack Developer
Checkout https://www.balancedpayments.com which provides escrow services for a marketplace at a reasonable price.
Alan Peters
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Alan Peters Entrepreneur
VP Product and Technology at BusinessBlocks
Could you just sell the insurance yourself and then pass the risk on to a reinsurance company?
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