articles link to it . please introduce links to this page from related articles ; try the find link tool for suggestions . january 2015 pricefalls llc type private founded 2008 headquarters las vegas nevada u.s. area served u.s. founder s elliot moskow key people elliot moskow founder chairman and ceo peter p. schaefer cio executive vice president chad casey creative director marketing director david hall lead developer ryan d. rollo director of customer relations 1 gary jacobs industry auctions products online auction hosting electronic commerce shopping mall slogan s catch it while you can . where your bid wins . website www.pricefalls.com type of site online auction registration required to buy and sell available in english pricefalls llc is an american internet company that manages pricefalls.com an on line retail marketplace . pricefalls acts as a sales channel for small to medium size businesses who wish to expose their products to a wider audience . the company was founded in response to user frustrations with the ebay model with pronounced emphasis on customer service and dedication to the sellers who use the site . 2 the company was founded in june 2008 out of an apartment close to bates college in lewiston maine . the company relocated to las vegas nevada in january 2009 . contents 1 origins & history 1.1 recent developments 2 the listing & sales process 2.1 selling on pricefalls 2.2 buying on pricefalls 2.2.1 buying on dutch auctions 2.2.2 buying on fixed price listings 2.2.3 pricefalls payments 3 fees 4 service marks and slogans 5 see also 6 notes 7 bibliography 8 external links origins & history edit the idea of pricefalls was first imagined in 2008 by elliot moskow an economics major from bates college located in lewiston maine . out of a need to earn extra cash that summer elliot obtained confiscated jewelry from police auctions in order to sell them on the popular shopping site ebay . he started with a few rings some of which sold to buyers with nigerian shipping addresses . elliot had received a fraudulent paypal receipt from a fraudulent user and additionally had paid fees to list his items losing money . as a result elliot permanently discontinued his activity on ebay and began to think of alternative ways to sell online . 3 4 after returning to bates elliot learned of the dutch auction and its application in the tulip industry . he then sought out other students capable of technically executing a reverse auction website . his search led him to a partnership with bates alumni peter schaefer and chad casey the creators of a small web media company called lautus design . 5 recent developments edit pricefalls.com has grown consistently since announcing its public beta in september 2009 after successfully raising usd 400 000 in seed funding from private investors . 6 although the name pricefalls refers to the descending price as the basis for the business model recently they have expanded the platform to allow for fixed price listings as well . as of july 2014 the internet marketplace is used by over 200 businesses actively listing over 3million unique items for sale . pricefalls.com has been listed as 96 in a list of the world s 230 most exemplary websites . 7 the listing & sales process edit selling on pricefalls edit when selling an item users proceed through a six step process prompting the user to choose between creating a dutch auction or a fixed price sale . choose a category for their listing and up to 3 subcategories . enter a listing title brand name condition and a detailed description of the item . set their pricing . if the merchant chose the falling price method in step one they are prompted to enter the price ceiling the most they think someone would be willing to pay and price floor the least they are willing to accept along with a listing duration and an optional duration that delays the falling of the price catch it before it falls duration . if the merchant chose the fixed price method in step one they simply enter the fixed price that they would like to list the item for . sellers may also upload up to seven product images and choose extra exposure options that they would like to add to their listing . choose how they would like to accept payment for their items and provide detail into applicable return policy . review the listing before submitting it to appear on pricefalls . upon submitting the listing the auction will begin . for falling price auction listings the price will start off at the price ceiling and drop at a constant rate until the item is purchased or until the time interval at the price floor has expired . the catch it before it falls duration is before the listing duration and marks a period of the pricefalls sales cycle during which the item remains at the top price price ceiling . the catch it before it falls period allows consumers to purchase a product they really want with little competition . it also allows the merchant to experience the most profitable sale possible . buying on pricefalls edit buying on dutch auctions edit pricefalls enables consumers to purchase merchandise that has been listed using the dutch auction by using one of two distinct methods if it hits bids or catch it now . if it hits when bidding on pricefalls users can set a price that they would like to pay for an item . if the price falls to the set bid without anyone purchasing it first then the item is automatically purchased . in the case of a multiple quantity listing the highest bids win in the order of magnitude . catch it now as the product price is falling buyers may also choose to purchase an item right away . to purchase an item at its current price buyers can click the catch it now button to finalize the transaction and the quantity purchased is taken off the market . subsequently the price falls on the remaining quantity until the maximum quantity is sold or the price floor is reached . buying on fixed price listings edit prices on fixed price listings remain the same throughout the auction . buyers can simply purchase these items at their fixed price . pricefalls payments edit payment is made directly from the consumer to the business via one of two currently available payment gateways authorize.net or paypal . when a buyer views an item detail page and clicks buy the buyer is automatically redirected to the seller s paypal and is then able to submit payment . buyers can submit payment using their own paypal account or via credit card . the buyer receives a receipt generated from paypal and also a confirmation from pricefalls that the item has been successfully purchased . if a buyer has made a bid on an item and has won the buyer can submit payment for the item by looking in the won items folder in my account . the buyer is then directed to paypal or authorize.net to submit payment . in order to link buyers directly to a seller s payment gateway the paypal id email associated with the seller s paypal account is imputed into the payment method field upon listing . this is done in both individual listings and bulk listings . in a bulk listing all items are placed under one payment gateway whereas in individual listings payment options are done on a per item basis . stores select their viable payment options upon setup . the form of payment that a store accepts is displayed on the store page under the policies tab as well as in every item detail page under the payment methods tab . although uncommon in some circumstances a seller may not be able to accept payment . in some cases pricefalls is willing to accept payment for these companies as a dropship relationship . fees edit pricefalls derives revenues from sales commissions collected from merchants upon product sale . commissions are designed in a sliding scale model whereby percent based fees decrease nominally as product prices increase . these product prices fall into three ranges each of which is associated with a percent value fee . the final value commission is a sum of the applicable fees accumulated within each price interval . 8 service marks and slogans edit pricefalls llc has proprietary rights to its business name pricefalls the pricefalls.com logo and the slogans where your bid wins and catch it while you can . the corresponding serial numbers for the service marks are 77609332 77609341 77609698 and 77840574 . the united states patent and trademark office uspto issued a notice of publication for the pricefalls logo serial 77609332 and for the pf logo serial 77609341 ; for the slogan where your bid wins serial 77609698 on march 24 2009 ; and for the slogan catch it while you can serial 77840574 on march 22 2010 ; in order to check the status of the applications enter the application serial numbers at the following url http tmportal.uspto.gov external portal tow . see also edit dutch auction ebay reverse auction notes edit meet the team pricefalls.com . 2010 05 05 . retrieved 2010 08 03 ebay gets new competitor fox business.com . 2009 12 22 . retrieved 2010 80 09 about us pricefalls.com . 2010 05 05 . retrieved 2010 08 03 . let s go dutch auction site seeks lowest bidders walletpop.com . 2010 03 11 . retrieved 2010 08 03 bates graduate creates site to save people money wmtw.com . 2010 07 01 . retrieved 2010 08 03 . pricefalls scores seed funding launches online auction site in public beta techcrunch.com . 2009 09 17 . retrieved 2010 08 03 . liu wen ed . 2010 230 . 1st ed . tsinghua university 2010 . print . isbn 9787302225027 fee structure pricefalls.com . 2010 05 05 . retrieved 2010 08 03 . bibliography edit liu wen ed . 2010 230 . 1st ed . tsinghua university 2010 . print . isbn 978 7 302 22502 7 external links edit pricefalls.com retrieved from https en.wikipedia.org w index.php title pricefalls & oldid 711707909 categories online auction websitescompanies based in paradise nevadahidden categories orphaned articles from january 2015all orphaned articles navigation menu personal tools not 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