Bonanza is an online market place that was created by Bill Harding. The inspiration for an online marketplace came from a failed garage sale. Bill was determined to make selling “relentlessly simple”. However, the success did not come until Bonanza was named “an exciting eBay alternative” by the eCommerce blog. With the article, the number of Sellers soared.
Like any marketplace, Bonanza simply provides the platform. It empowers independent entrepreneurs to build an online business by allowing these to list their products for sale. Then persons can go there to look through the listed products and make a purchase. Thus, Bonanza itself does not own the products listed on the site. It’s just a marketplace like eBay.
Bonanza is not in any way involved in the transaction between Sellers and Buyers. In fact, unlike some marketplaces that receive payment for purchases to later release the Sellers’ share to them, Bonanza does not receive any payment for purchases. When you use Bonanza for any purchase, you’ll be paying the particular Seller directly.
Bonanza is an online marketplace for buying and selling everything but the ordinary. It calls itself a Seller-centric marketplace, and says it makes “selling online easy”.
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The big question is whether Bonanza is really seller-friendly or whether the seller-friendly “speak” ends as advert blurbs. That is, can someone want to start an online business really sell and make money using Bonanza? Also, are its Sellers fees reasonable? What about other services; is it easy to set up and sell in the platform?
As a buyer, there are even many questions. With its self-pronounced Seller-centric status, is Bonanza worthwhile for buyers? Will buyers find quality products in the platform? What buyer protection does Bonanza offer should issues arise? What about its services; can one expect top services that we’ll expect from an ideal online shopping destination? In the first place, is Bonanza legit or just another scam platform?
Yes, Bonanza is legit. It is not a scam but one of the most popular marketplace online. You will definitely get the services you seek for on the platform.
This Bonanza review will examine Bonanza in order to provide the information that will answer these questions and more.
Yes, it’s wise to determine if an online platform is legit before jumping in, especially where money will be involved. There are just too many cyber fraudsters using different fronts to rip people off. Thus, the big question is whether Bonanza is legit? The short answer is yes. Wondering why that’s our position? Read on.
Our first check of a legit e-commerce platform is always legality. This is because the platforms that are 100% legal are less likely to be a scam. Interestingly, Bonanza ticks this box. Bonanza is a fully registered business. Suffice it to say that the scam stores do not pursue company registration.
Another check of a legit eCommerce platform is visibility and industry-wide recognition. This is because the scam platforms largely operate in the shadow. Interestingly, Bonanza also ticks this box. Since that eCommerce blog article that named it “an exciting eBay alternative”, Bonanza has gone on to be featured by leading publishers and media giants that include Time Magazine, Mashable, CNN and more. Bonanza was even named “Best Entrepreneurial Company in America” in 2016 by Entrepreneur Magazine. Suffice it to say that a scam platform will not earn the recognition of such industry watchers and followers alike.
However, the ultimate check of a legit eCommerce platform is fitness for purpose. As a marketplace, fitness for purpose will be: as a Seller, being able to use the platform to list and sell your products; and as a Buyer, getting delivery of real and functional products when you place orders using the platform.
It’s a no-brainer that a seller that has no sales success in a platform but is out of pocket in fees will find it anything but scam; in the same vein, a buyer that pays for an order, but does not receive his/ her order or that receives delivery of worthless products will find the platform anything but scam. In this regards, it is safe to say that Bonanza ticks the box. That is, some Sellers have had some sales success using bonanza, and some buyers have gotten delivery of real and functional products.
However, especially in the area of buying, it must be said that as in any marketplace Bonanza is not immune to bag eggs. Thus, you’ll find reports of some buyers being scammed by certain Sellers. Thus, the key when buying in Bonanza is to be discerning in identifying legit buyers. That said, while the platform itself (Bonanza) can do better in tightening up to snuffle out the bad eggs within it, it comes out as a legit online marketplace.
Using an eCommerce platform entails the sharing of sensitive information that includes personal details (e.g. contact details) and payment method details (e.g. credit card details). With cyber fraudsters, identity thieves, and other bad elements eager to get their hands on such sensitive data, you’ll want an eCommerce platform that adequately safeguards users’ data, preventing these from leaking out to unauthorized third parties.
In this regards, Bonanza says that the protection of users’ data is important to them. Thus, the platform uses industry-standard security protocols. When you enter sensitive information on the website, it encrypts the transmission of that information using Secure Sockets Layer (SSL) technology. With the bank-grade SSL technology used, it is safe to say that Bonanza is safe.
Whether you have something to sell or you have something to buy, you’ll want a place that supports a wide range of products. As a Seller being able to list your different product for sale in one place is convenient; and as a Buyer, being able to purchase your related products in one place is super-convenient.
In this regards, Bonanza advertises as the destination to shop “everything but the ordinary”. This will suggest that it supports a wide product range. The department (and the product categories in each department) you’ll find in Bonanza are as follows:
The presence of “Everything Else” as a product category tells you that there’s virtually nothing you can’t sell or buy in Bonanza.
Also, you’ll find a lot of top brands featured. In the men and women fashion department, you’ll find favourite brands like Calvin Klein, Gap, J.Crew, Nike, etc. The Home & Garden department holds brands like DeWalt, Keurig, Kohler, Lenox, etc. The Health & Beauty department holds brands like Avon, Clinique, L’Oreal, etc. In Handbags, you’ll find brands like Coach, Fossil, Louis Vuitton, Michael Kors, etc
Bonanza advertises as a Seller-centric marketplace, which suggests that it is more seller-friendly than many other online marketplaces. The first thing you’ll want as a seller is an easy to use platform. Bonanza actually shines in this regards.
The first step is to open a Seller’s account. This entails clicking the “Start Selling Now” button in the website. In the page that opens up, you’ll proceed to nominate a username, password, and booth title. An account can also be created using your Facebook or Google login.
The next step is to set up your booth, but it simply entails providing your personal information in appropriate fields. The next step is to provide the checkout providers that you’ll like to offer (that is, how you’ll want your customers to pay you). Bonanza requires that you have a PayPal account, and you’ll have to connect the account to your booth.
Amazon Pay and Stripe can also be added. At this stage, you’ll also select whether you want Bonanza to advertise your items. The last step is to add your credit card information. Click “Finish Setup”. You can proceed to add your items.
Adding items to your booth is also quite easy. This can be done manually or by importing listings. To do so manually; from the “Selling” link, select “Add or edit items” from the drop-down menu. Then click “Add a new item” in the page that opens. You can then proceed to provide the details of the item (description, trait, price, photos, etc).
To send the items to live, then click “Save these changes; customers can see them right away”. To import listing from other marketplaces, you also start from the “Selling” link. From the drop-down menu, select your import option (that is, import from Amazon, import from eBay, etc). Then you select your import settings and click “Import items”. Mandatory fields when importing listings are title, price, and category.
After adding your items to your booth, the last thing is to activate your booth. Selling > Add or edit items > Open booth. Complete the required fields; get to and click “Finalize Booth”. Pending approval, your items will be immediately visible in your booth.
One of the most important things you’ll want to know is how much it cost to use the platform. In this regards, bonanza comes out very fine. It is completely free to list items and sell them in Bonanza. It is only when your item sells that you’ll be required to pay a fee. Thus, Bonanza is a risk-free marketplace. If you close your booth and leave, you’ll not be losing any money.
However, in addition to its free account which can be used to sell, Bonanza also offers membership subscriptions which give you access to more selling features. Importantly, these include driving more traffic to your listing. The main plans are Gold, Platinum, and Titan. The gold Plan cost $40 monthly but $25 per month when billed annually; Platinum cost $70 monthly but $55 per month when billed annually; while Titan cost $200 monthly but $167 when billed annually.
Since you pay Bonanza when your item sells, it’s also important to know what those charges will be. Bonanza does relatively well in this regards. Its charges are based on the Final Order Value (FOV), which it calculates as the item purchase price plus any portion of the shipping fee over $10. Thus, for a $30 item with $12 shipping, the FOV is $32; but a $30 item with $10 shipping has FOV of $30.
That said; Bonanza charges 3.5% of the FOV (for all FOVs under $500), but with a minimum fee of $0.50. Thus, for the $30 item with $12 shipping; Bonanza’s fee will be $1.12 (i.e. 3.5% of $32). However, for an item costing $10 with $2 shipping; 3.5% of the FOV ($10) is $0.35 which is less than the minimum fee. Thus, Bonanza’s fee will be the minimum fee of $0.50.
For all FOVs over $500, Bonanza’s charge is 3.5% of the first $500 + 1.5% of amount over $500. Thus for a $650 item with $15 shipping, the FOV is $155; and Bonanza’s charges will be $22.925 (i.e. 3.5% of $500 + 1.5% of $255).
That said; pricing is one attraction of Bonanza, not only is it free to list items but with its fees, it also comes out as relatively cheap. Most times, FOVs will be less than $500, so Sellers will be paying only 3.5% of FOV. This is definitely cheaper than the popular eBay.
The small thing we didn’t like in the bonanza’s fee is that the portion of shipping fees over $10 go into calculating the bonanza’s fee. While you can use the platform to sell for free, if you decide to buy a membership subscription, you’ll find these to be extraordinarily expensive.
Another important consideration is making a payment, as you’ll not want a platform that’ll “frustratingly bang on your door”. In this regards, Bonanza fee is due once you’ve accumulated $3.00 in fees; and it bills once a month.
Bonanza supports two methods for paying its fees (Final Value Fee) – PayPal and Credit Cards (Mastercard, Visa, Discover, JCB, or American Express). With these methods, paying Bonanza should be stress-free. Bonanza even simplifies the whole process by charging your credit card automatically at the end of the month.
If you’ll rather pay manually, that option is available via PayPal. When you opt for manual payment using PayPal, you’ll have until the 4th of the next month to pay; if the payment is not made, your credit card will be charged automatically by the 5th of the month.
However, Bonanza does not allow Sellers to accumulate large fees while waiting for the end of the month for next billing. Thus, it’ll automatically charge Sellers if they’ve accumulated $100 in fees. But as a new Seller into your first three months of using bonanza, it’ll automatically charge you if you’ve accumulated $25 in fees.
In addition to its membership subscriptions which can get more persons to see your product to drive up your sales. Bonanza also offers advertising programs. When you are opt-in to these, Bonanza will push traffic to your product paying for ad clicks that bring shoppers to your listing. There are four advertising levels, with each higher level driving more buyer traffic to your listing.
For each advertising level, you decide how much you want to pay. The basic level cost 9% max fee, the standard level cost 13% max fee, the superior level cost 19% max fee, and the Elite level cost 30% max fee. This means that when your item sells, you’ll not pay above the max fee of your selected level; but you can pay less than the max fee if the total “spend” by Bonanza in driving the traffic for your item sale is lower than the selected max fee.
Another good thing is that no matter the advertising level you choose, Bonanza covers the advertising cost until your item sells. Thus, it’s also risk-free.
Selling Pros
Selling cons
When using any eCommerce platform, you’ll want to find a lot of options. Bonanza gives you this as it boasts of tens of thousands of Sellers. There are two ways to complete a transaction. The first is the traditional buying process, where the Seller states a price for an item, and the order is placed if you choose to buy it at that stated price and proceed to complete checkout.
The second way of buying is by making an offer. The Seller invites you to make an offer when you do, the Seller can accept it and the order is placed, or the Seller can make a counteroffer which you have to accept for the order to be placed.
The buying process is relatively simple, and shouldn’t be a problem if you’ve used any online shopping platform. You can search through the product categories to find something that you like. Alternatively, you can use the Search button in the website; enter a keyword, and bonanza will bring out products related to your search enquiry. Clicking on an item will take you to its description page.
There you’ll find every detail about the item such as its description, condition, material composition, etc. You can also view different images of the product. The page will also hold shipping information, such as when the item will ship, where it ships from, how long it takes in transit, and shipping cost. The return policy of the Seller will also be found in this page, along with some other details such as payment methods, and other products from the particular Seller.
If you like what you see, you can click to add the item to your cart. You can then click to go to your cart. If shipping cost was not provided in the product description and free shipping is not offered, the page that opens next prompts you to input your shipping country and postal code so that your shipping cost can be estimated. After that, you can view your order detail, and complete checkout by putting your shipping address and payment details.
Sometimes, customers have a change of mind and will want to modify or cancel the order. Unfortunately, Bonanza advertises that it is possible to modify/ cancel an order after submitting it. But buyers cannot do that directly, you’ll have to contact the particular seller using the Account > Recent Purchase link.
However, as many persons will testify, there are few Sellers (if any) that’ll even look into cancellation request. Modification? Maybe, especially if the modification leads to an increase of the order value.
Another important consideration when using any shopping platform is pricing. Because we always want the best deals, stores that feature relatively low prices are attractive. In this regards, the fact that Bonanza is not a retailer but a marketplace, affect its pricing.
The prices are only a reflection of the independent Sellers. That is some Sellers may price their items relatively low, while others may not. However, looking at listings, Bonanza does not come out as a “low and affordable” shopping destination. In our opinion, prices fall in the middle range. That is, not low, but not expensive.
In terms of payment methods, what you can use for payment depends on what the particular Seller offers. But every Seller supports PayPal, while some may offer Amazon Pay and Stripe. This means that you shouldn’t’ have a problem with paying for your order when using Bonanza.
Another important consideration when using an eCommerce platform is shipping. You’ll need to consider: whether the retailer ships to your location, how long it’ll take to receive your order, and how much it’ll cost. As Bonanza is a marketplace, the shipping destination, delivery times, and shipping costs vary depending on the particular Seller.
However, you’ll find that many Sellers ships to worldwide locations. Also, we found that many times are listed as shipping within 1 business day. In terms of delivery, some Sellers offer standard delivery and Expedited delivery.
In terms of shipping cost, many sellers offered free shipping. That said, you’ll want to look at the shipping terms very well in the product description page. You may also want to look at the reviews of the particular Seller to know if the delivery times are honoured.
Because of the “blind purchase” characteristic of online purchases, an important is return policy. That is, customers will want stores that will allow them to return an item that is not satisfactory and get a replacement or refunds.
In this regards, because Bonanza is a marketplace that is not involved in the transaction between Sellers and Buyers, it does not have a return policy. It is the independent Sellers that may choose to include a return policy. You’ll find this in the product description page. Looking through many products, we found that many Sellers in Bonanza include a return policy; with many going for the popular 30-days after delivery return window.
When you buy from an online retailing store and issues come up, at least, you’ll know who you are up against. But when using a marketplace, you don’t. Thus, when using a marketplace, you’ll want the platform to offer strong “buyer protection”. In this regards, in our opinion, Bonanza does not offer buyer protection. One reason is that Bonanza does not receive payment for purchases.
We found that marketplaces that are serious about “Buyer Protection” receive payment for purchases directly from customers. And only when the buyer confirms receipt of the order (and satisfaction with it) will the funds be released to the Seller.
Where a buyer is not happy with an order, and the Seller does not offer a satisfactory resolution, the platform will come in to mediate. Only when the mediation proves the Seller right will the platform release the payment to the Seller; if the outcome favours the buyer, the platform will refund the buyer.
In Bonanza, since the Seller gets the payment directly from the buyers, there is nothing Bonanza can do if you have an issue with your order. You’ll simply be at the mercy of the particular Seller. Where a Seller has a return policy and stays true to its terms, you shouldn’t have issues with getting a satisfactory solution. But where you are scammed (you do not receive your order, or get some shoddy merchandise), you’ll have to contact the Seller.
If you get nothing (in the way of a resolution) you’ll have to report the Seller to Bonanza. All bonanza can do is to remove the Seller from the platform. Know that, that does not help you in any way in getting back your money. If you want your money back, you’ll have to file a dispute with your payment processor.
PayPal and Amazon offer buyer protection; where Stripe was used, the dispute should be filed with your credit card company. Also, know that there is a window for filing chargebacks; so make sure to file the dispute before the window closes.
For example, with PayPal, you can only file a dispute within 180 days of your purchase; while Amazon gives you 75 days from purchase date. Be careful of some dirty sellers who will string you along until the chargeback window closes.
Buying Pros
Buying Cons
Many customers will have questions, and there are others that will have issues with their orders. Thus, the ideal platform should provide for handling the question and issues that the customer will have.
Bonanza offers a robust self-help section. You’ll find a Help Center, with support articles categorized under Selling, Buying, and Account. To aid navigation, each category opens up subcategories. For example, “Buying” opens up “an item I bought”, “Shopping on Bonanza”, “General Questions”, and “Others”. Clicking on “An item I bough”, you’ll find: how do I cancel my order, I want a refund, How can I track my shipment, never received my item, item not as described, how to report a seller, etc. Thus, with the categories and subcategories, you’ll find an intuitive help centre that will take you to articles that answer many of the questions you may have.
If you want direct contact, that is also supported. With Bonanza being a marketplace, you’ll first have to contact the Seller for everything (both pre-sale and post-sale). Pre-sale, you can contact the Seller from the item description page. Click on contact Seller button, fill the message box, and send. Post-sale, you can contact the Seller from “Account>Recent Purchases”.
Contacting Bonanza will be to report a Seller. You can do this by sending them an email from the “Contact” link of the website. You’ll have to be logged in to send a message; so only members can communicate directly with Bonanza. However, as mentioned before, the only “help” you’ll get from bonanza is removing a Seller.
True, there is no platform that is immune to complaints. But the complaints should not override an ideal platform. Thus, the volume and frequency of complaints can help you to gauge how well a platform is. In this section, we examine the top customers’ review platforms such as Trustpilot, Sitejabber, etc. These reviews are simply what real persons who have used bonanza as sellers and buyers have to say about it. Sadly, Bonanza has mixed ratings in these platforms.
In Trustpilot, bonanza is rated 3.0/ 5 by 932 reviewers; in Sitejabber it is rated 2.5/ 5 by 773 reviewers; but in resellerratings, it is rated 1/ 10 by 33 reviewers.
One complaint common to many Sellers that wrote reviews is not making sales. For example, Gary Pearson in Trustpilot says “Nobody buys anything ever” The review continued “I sell a diversified selection of antiques, motor oil cans, signs, phones, vintage toys, prints, etc. Nothing for the last 6 month, nothing at all, not even a question by these people who buy on this site. If there are any out there I sure don’t hear from them. I have over 1,300 feedback on eBay and hundreds on my wife’s account and I cannot even sell one thing on here; totally frustrating and waste of my time listing things”
Another complaint by Sellers is not being able to find their own listed items. Yet some sellers complained about having their account shut down for no reason and without communication. For example: A.M. in sitejabber says “filing a lawsuit against Bonanza”. The review added that “…after 5 years of working hard to provide the best customer service, bonanza ambushed me out of nowhere and closed my account. This was my life. This was everything to me, and they shut me out and spit me out like I was nothing …If you try to be a seller on bonanza, make sure you pay the insanely high titan and platinum membership fees…”
Bonanza review products after the listing before the products will go live. Though Bonanza advertises that this may take 4 – 6 hours, the reviews suggest that it may take 2 days. This may be why some Sellers cannot find their products after listing. Sure, it’s not an ideal situation; and Bonanza can do well to reduce its listing review time.
For Sellers complaining of not making sales in the platform; this is to be expected when the platform has membership subscriptions. After all, the draw of the membership subscription and its paid advert program is to drive traffic to your listings for more sales. However, it’s frustrating having to use a marketplace for free and having to compete for the same customer pool with subscribers.
One prominent complaint among buyers is that the platform is a scam (more appropriately, that they were scammed in the platform)
For example:
As mentioned earlier, as a marketplace, there are some dirty sellers in Bonanza. However, the operation model of bonanza doesn’t help the situation. First, there is no serious screening of Sellers done, and it allows Seller to receive payment for purchase directly.
Thus there is virtually no buyer protection. While Bonanza’s remedy is to delete the seller’s account; that does not help the scam customer to get the item or the refund. And as one reviewer says, it definitely hurt that Bonanza does not take any responsibility other than “take the matter up with your payment processor”
Bonanza advertises as an online marketplace where you can buy and sell everything but the ordinary. It does support a vast array of product types. Thus, as a Seller, there’s virtually nothing you cannot list for sale; and as a buyer, there’s virtually nothing you can’t buy using the platform. Products include fashion products, home & garden products, collectables & arts, jewellery, and more.
As a Seller, you’ll find the platform to be relatively easy to use. You’ll have to set up a booth, and this has the advantage of showing your other products to customers who come to your booth for a particular item. Also, the platform can be used free of charge. That is, it’s free to set up your booth and free to list items for sale; you’ll only pay when your item sells.
Also what you pay when you sell is relatively low (mostly 3.5% of Final Order Value). However, there are paid services. For example, there’re membership subscriptions; which have the benefit of giving your items more visibility to drive sales. There are also advertising programs which you can subscribe to drive more traffic to your items for higher sales.
As a Buyer, ordering from the platform is relatively easy; and you should also have no problem with making payment. Apart from finding vast product types, a draw of bonanza is that prices are competitive. Bonanza is a legit marketplace, but like every marketplace, not every seller in the platform is legit.
Thus, while you’ll not have a problem with some Sellers, you may find yourself being scammed by the bad eggs. Sadly, bonanza itself does not have buyer protection. Your only defence (at getting back your money) will be to file a dispute with your payment processor. Thus, when buying from Bonanza, be careful to discern the legit sellers from the scam; and if there are issues, be quick to file a dispute.
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I've been a seller on Bonanza for a few years. In that time I have had a few sales. I have also purchased and I was lucky because being on the Bonanza forums, I can see who is active thru the conversations, so I picked someone who I knew was active. Both sides have good reasons, the buyers and the sellers have good points. Since my booth is competing against BOTH ACTIVE & INACTIVE accounts, I need to do more to bring attention to me. I work hard on my booth and my photos and having interesting items. My job is to have customers love shopping with me and always coming back to me. As a seller I don't care that it takes work in my booth, I don't care if I get only one sale a month, or 3 sales a week, I think a sale is a sale and when the customer is happy, they will come back to me, they will remember me, that's all there is to it. As a buyer if you think of trying Bonanza again, please look at what I have, I promise, I'm here and working. Stay safe. https://www.bonanza.com/booths/LadysClothesJewelry
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I appreciate your review about the Bonanza online marketplace. I set up an account there 4 months ago. But, I want to let you know that I find your British English writing doesn't make for clear reading; it needs some polishing. I have to re-read some sentences to get the correct flow. Please consider submitting your text to an American editor.