Listia, in short, is like eBay, but instead of getting money for your purchases, you get credits. With those credits you can buy other items. If you so desire you can also cash them out for real cash, but in my opinion, you would get more bang for your buck to keep the credits and get items you want with it. Listia is so much easier to list and sale items than eBay.
Currently, as of 11/11/17, the transaction rate for credits is 27,500 Credits per US$1 .
Listia is a free online marketplace and mobile app for trading goods between individuals without using money. The platform has a system known as Listia credits to facilitate the trades. Users earn credits for giving away items they no longer need and can then use credits to get items that other users have listed. The marketplace uses an auction system where users bid on each other’s items until the auction ends and the highest bidder wins. The user who listed the item then arranges for a pickup or ships the item directly to the winner.
In addition to the web site, Listia is also available as a native mobile app on both Android and Apple iOS devices.
Users may leave feedback at the end of transactions and there is a dispute system available, should someone not follow through with stated rules. The Listia support team handle cases and acts as a mediator between the buyer and seller. Sellers have the option to charge for shipping or provide free shipping. Buyers can filter listings based on their preferred shipping method.
Listia has created a system called Listia Credits to help facilitate trading on the site. Users earn credits during sign-up and then continue to earn more as they place items in the marketplace. Purchasing credits is also an option, and is Listia’s main business model. Users may also gain credits by leaving feedback, completing offers on the site, participating in promotions, and general courtesies.
Closed Loop System
Listia credits are not classified as a true currency, but are a closed-loop stored value system. Credits are usable only within the limited scope of the Listia marketplace and cannot be exchanged or redeemed for money at any time. Credits also cannot be gifted or transmitted between users outside of a legitimate auction in the marketplace.
Inflation and Deflation
The number of credits a particular item will sell for has fluctuated over time due to various causes such as inflation and deflation during the early part of Listia’s history. As the marketplace matured and liquidity increased, the fluctuation has decreased but prices still shift up and down based on current supply and demand trends. Looking at the history of one of the most popular items on Listia (Amazon gift cards) the scale of the price fluctuations can be seen.
In October/November 2009 a $5 Amazon gift card would sell for about 300-600 credits. By August/September 2010 $5 Amazon gift cards were going for double the price, 1000 credits. Looking at Amazon gift cards in May–October 2011 a $5 card sold for 2900 credits. Current auctions for these gift cards top 1500 credits per dollar.[
Credits to Cash
Starting in 2015, Listia silently released the option to sell credits for cash to select users. In order to qualify, the user must have the Trusted Seller’s Badge (15 consecutive positive seller feedback on auctions they hosted and maintained a minimum 95% seller rating for 20 days)[ and have had accumulated 500,000 credits through their own auctions in the previous month. The user’s payment is handled through PayPal. Since the option to sell, credit inflation has sky rocketed. As of now in March 2016, $1 = 7850 credits. Just last week it was 7500.
Listia also backs their buyers & sellers fully.
Buyers get a FULL REFUND of credits:
- If an item won on Listia is not received or significantly not as described in the listing
- If a seller changes the listing terms (as outlined in the description) after it ends, and the buyer disagrees
- If a seller claims to have not received payment for shipping, and the buyer has proof the funds were transferred through a Listia Assurance protected payment method
Sellers can KEEP ALL credits*:
- If a winner does not pay shipping, is non-responsive, or otherwise experiences buyer’s remorse
- If a winner claims they did not receive an item, but the seller has provided a valid tracking number indicating the item was delivered to the winner’s verified address
- *Applicable after a winner has paid for the item. If a winner does not pay, the seller may cancel the transaction, list the item again, and listing fees are fully refunded.
How it Works
- Contact the seller or buyer if you have an issue and try to resolve it.
- If that doesn’t work, just file a dispute from your listing page.
- We work with both parties and make a decision based on the guidelines above.
Which methods of paying for shipping protect my credits under Listia Assurance?
When items you win on Listia have shipping fees, you will need to send payment to the seller. The following methods of payment have you protected under Listia Assurance:
- PayPal and Google Wallet
- Personal checks
- Money orders
If the auction seller claims they did not receive payment, but you are able to show proof that the funds were transferred, then you will be eligible for a full credit refund.
The remaining payment method that is allowed by Listia, but not protected under Listia Assurance, is concealed cash. Sending cash in the mail is essentially untraceable, and using this method does not guarantee that you will be eligible for a full credit refund should your seller claim that shipping payment was not received.
What’s Not Covered?
Listia does not handle the payment of shipping costs between buyer and seller, and therefore is not able to refund shipping costs incurred by either party. When paying a seller shipping costs, the best way to protect your money is to use a payment processor such as PayPal, which offers PayPal Purchase Protection. For more details, please see our rules page.
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