It was back in 2008 that the first eBay seller in the world got a million feedback and frankly that was an outstanding achievement. It’s taken another nine years for a seller to hit the magical five million feedback and the UK’s musicMagpie have done it.
musicMagpie are officially the first eBay seller anywhere in the world to hit 5,000,000 and for good measure by the time I got a screen shot they had already racked up another 50 thousand odd feedback. This is a business founded in a garage which will be a familiar scenario to many eBay sellers.
What’s even more amazing is that musicMagpie have received 7,248,942 individual feedbacks on eBay – their score is only 5 million odd because eBay don’t count multiple feedbacks from a single buyer left at one time.
“We’re delighted and honoured to be the first eBay store to hit the 5,000,000 mark for positive feedback. This is a great stamp of approval for the business, with new buyers immediately able to see that they can trust us to deliver an exceptionally high quality used product with exceptional customer service.”
– Co-founder, and Group COO, Walter Gleeson
So how do you get over 100,000 feedback a month? musicMagpie is a service for buying and selling collectible music, DVDs, books and consumer technology such as iPhones. They launched in 2007 and now employ a thousand people, mostly in the local area, to help run their 24/7 “modern stock exchange” operation. The business boasts an annual turnover of £100 million and exports to buyers in 140 countries around the world.
Co-founders Steve Oliver and Walter Gleeson identified the market opportunity to offer an online bulk trade-in model for CDs, DVDs and games. They launched the new business in 2007 when the recession left many consumers seeking a fast and easy way to raise cash for their old disks. The first item ever sold by musicMagpie was a refurbished copy of Abba’s Gold.
“musicMagpie enjoyed rapid growth in its first few years, but our launch on eBay really sent sales soaring – it’s a huge marketplace for collectibles that has given us access to customers around the world who want to be part of the ‘modern stock exchange’.”
– Co-founder, and CEO, Steve Oliver
Having amassed some 20,000 feedback split over multiple accounts myself (I know, such a tiny number!) I know just how hard it is to serve the eBay community of buyers. I’m in awe of musicMagpie and although much of their business is similar to thousands of other ‘jiffy bag stuffers’, the pure scale that they have achieved is staggering. A huge congatulations to Steve, Walter and their team.
“Surpassing five million positive reviews is an amazing achievement, and we are immensely proud of musicMagpie.”
– Dieter Newell, Senior Director of UK Trading at eBay
Top facts about musicMagpie
- Founded in 2007, the company now employs one thousand people
- Turnover of £100 million a year
- First item ever sold on eBay was the all-time classic by Abba – Gold
- Top selling item (in value) of all time is the iPhone 5s 16gb unlocked
- After ten years of buying used CDs, DVDs, games, books and tech; musicMagpie has now paid out over £145m to sellers
- Recently surpassed positive feedback score of five million, the first business on eBay to do so
- Also trades on eBay.com from its inventory held under its US subsidiary dba ‘Decluttr’ and selling under ‘eStocks USA’ on eBay
- Top tip for the trend of 2017 – the further growth of ‘re-commerce’ (the process of buying and selling pre-owned product online) increasingly through App based platforms as opposed to mobile web experiences