With "dot.com" seen as a dirty word in some circles, reports of young entrepreneurs making a living in Taiwan off online auction sites may be unexpected news.
"Two years ago I barely even knew how to use a computer, but now I make six figures [in NT dollars] from the Web every month."
Twenty-nine year old Lily Liu (劉小莉), now a colored-crystal jewelry seller, stumbled on to the idea of her successful business on the Internet.
"It was a coincidence ... I was surfing around on the Internet and I connected to an online auction site by accident," Liu said.
"At first I sold stuff via the Web just for fun, but as the revenue kept increasing, I gradually put more emphasis on my online business, rather than on my original career."
Lin was originally a part-time actress and has appeared in several local soap operas, but she soon found online sales to be a more stable source of income.
In Taiwan, Internet portals like Yahoo-Kimo and PC Home Online (
Liu spends an average of three to four hours per day on her home-based business.
"I use a digital still camera to take photos of products I plan to sell and then upload them onto the Web site, along with descriptions and minimum bidding prices," Liu said.
After 6pm, the time when Liu brings the daily bidding to an end, she checks out what have been sold and then corresponds by e-mail with buyers to discuss delivery and payment procedures.
Use of most of the Web sites is free -- for now.
"Currently eBay Taiwan's services are totally free, but we will charge Taiwanese users in the future," said Ivy Huang (黃凌佳), marketing director of eBay Taiwan Ltd.
In the US, Web auction sites like eBay charge approximately 1.5 percent commission on the products' final selling price.
Otherwise the only prerequisites to becoming an online auctioneer is having a digital camera, a stable Internet connection and an e-mail account.
"Because the most common way online sellers communicate with customers is via e-mail, you better make sure your e-mail account is reliable," Liu said.
In addition, since sellers have to upload product images to the auction site, a fast Internet connection like ADSL is needed, she said.
Saving money on office rent and utility bills allows sellers to offer better prices with which to attract consumers.
Another online entrepreneur said that, in addition to low overheads, flexible work hours is a major perk.
"Since I can access my store from the Internet any time I want, I have total control over my schedule," said Wang Chih-hung (
Wang, a numismatist since his teenage years, said it's hard sometimes to find rare coins because the domestic market lacks the channels to communicate with other collectors.
"About two years ago I got to know more collectors over the Internet and I then began trading on the Web," he added.
Over the last two years Wang has sold more than 1,300 coins online and he says he closes about forty deals per week.
"I pull in a net profit of about NT$30,000 per month ... almost the same as what an entry-level office worker earns."
Wang used to operate a small food stand in Hsintien and, after realizing that he could make a living from the Web, he closed the business about seven months ago.
Not everyone in Wang's family is happy with the career move, with his parents saying that he should find a "real" job.
Wang's success may be linked to the unique commercial community the Web creates. Others are not so fortunate because not all products necessarily turn into online "gold."
"Products like food items are not suitable for online auction since most consumers are concerned about freshness and safety," eBay Taiwan's Huang said.
Currently the top three most popular auctioned items on eBay are women's clothing and accessories, skin care products and mobile phones, while the worst-selling items are photographs, laser discs and sheet music.
To many, Tatu City on the outskirts of Nairobi looks like a success. The first city entirely built by a private company to be operational in east Africa, with about 25,000 people living and working there, it accounts for about two-thirds of all foreign investment in Kenya. Its low-tax status has attracted more than 100 businesses including Heineken, coffee brand Dormans, and the biggest call-center and cold-chain transport firms in the region. However, to some local politicians, Tatu City has looked more like a target for extortion. A parade of governors have demanded land worth millions of dollars in exchange
Hong Kong authorities ramped up sales of the local dollar as the greenback’s slide threatened the foreign-exchange peg. The Hong Kong Monetary Authority (HKMA) sold a record HK$60.5 billion (US$7.8 billion) of the city’s currency, according to an alert sent on its Bloomberg page yesterday in Asia, after it tested the upper end of its trading band. That added to the HK$56.1 billion of sales versus the greenback since Friday. The rapid intervention signals efforts from the city’s authorities to limit the local currency’s moves within its HK$7.75 to HK$7.85 per US dollar trading band. Heavy sales of the local dollar by
Taiwan Semiconductor Manufacturing Co’s (TSMC, 台積電) revenue jumped 48 percent last month, underscoring how electronics firms scrambled to acquire essential components before global tariffs took effect. The main chipmaker for Apple Inc and Nvidia Corp reported monthly sales of NT$349.6 billion (US$11.6 billion). That compares with the average analysts’ estimate for a 38 percent rise in second-quarter revenue. US President Donald Trump’s trade war is prompting economists to retool GDP forecasts worldwide, casting doubt over the outlook for everything from iPhone demand to computing and datacenter construction. However, TSMC — a barometer for global tech spending given its central role in the
An Indonesian animated movie is smashing regional box office records and could be set for wider success as it prepares to open beyond the Southeast Asian archipelago’s silver screens. Jumbo — a film based on the adventures of main character, Don, a large orphaned Indonesian boy facing bullying at school — last month became the highest-grossing Southeast Asian animated film, raking in more than US$8 million. Released at the end of March to coincide with the Eid holidays after the Islamic fasting month of Ramadan, the movie has hit 8 million ticket sales, the third-highest in Indonesian cinema history, Film
RSS