Quikr, the classifieds marketplace, has announced a new initiative that could give a huge impetus to the online second-hand goods market. Quikr has launched a Maximum Sales Price (MSP) index, which will help sellers determine a more accurate value for their used goods before posting a listing on the site.
The MSP model will show buyers a range of prices that it thinks are right for the product. It’s India’s first ever pricing guide for pre-owned goods. and MSP is shown for a variety of used items before the ad is posted. The MSP calculator on Quikr’s website and mobile site helps users ascertain the best possible price range for their used goods. It works using special algorithms designed by Quikr’s internal team, which take into account the pricing of that particular item in that category based on similar product listings over the past three months. To enable this Quikr uses data from over 10 million live ad listings.
Currently, this calculator is available for the cars and bikes category, but Quikr says MSP covers a products in electronics, real estate, mobile phones, automobiles, home and lifestyle categories too. Commenting on the launch, Pranay Chulet, CEO and founder of the company said, “We are sensitive to the fact that our users sometimes struggle with determining a fair cost for used products, whether they are buyers or sellers. We launched MSP to help them determine the best possible price range based on the huge amount of data from actual user generated ads on Quikr. Quikr’s MSP calculator provides both buyers and sellers with the most credible information about the prevailing market rates for used goods across categories.”
Quikr has been going all out in its attempts to get more ad listings and has also tied up with Junglee.com, as we had reported earlier. Those searching for new products on Junglee will also be shown listings of the same from Quikr.