Short of Cash? Swaptree Lets You Trade What You Have for What You Need

I know a number of people who are feeling nervous, even panicky, about their finances. When cash is hard to find, alternatives like Swaptree, found here, allow people to spend only a couple of dollars to trade items they no longer want for books, movies and music that would cost far more if bought at retail.

After discovering that the company just received $3.3 million dollars from Safeguard Scientifics (according to a Techcrunch piece, found at the Washington Post here, I was intrigued and decided to test out Swaptree. Here's what I discovered, along with some updates and information that should help others:

Registering at Swaptree.com was easy, allowing me to immediately barter and trade items

I signed up very quickly, got a confirmation email and responded. Within minutes, I was involved in my first trade. I listed a book I no longer needed, Edgar Sawtelle, and was shown a number of potential books that I could choose in return. I did have to take a moment to find the exact ISBN number on the book, to make sure I was listing the correct edition (some books come out in more than one edition at the same time, including paperback and hardcover editions and special collectors' editions). Alternately, I could have imported items from a list or website, making it that much easier to list multiple books, CDs and DVDs.

But looking up the ISBN took only a few extra minutes. Some of them were recent releases. I saw such popular titles as The Glass Castle, Postsecret, The Last Lecture, The World is Flat and numerous Harry Potter books. Then I saw a rather obscure book which had been on my list for awhile and I signed up to trade for it. I'm waiting to hear back from my trading partner. I'm also going through the items in our home and thinking about what I could trade for potential Christmas and holiday gifts this year, ones that are almost free. When I can trade a book that cost $24.95 for one of equal or greater value, I think that is a super deal!

Is Swaptree.com truly free for both registration and membership? Are there hidden costs?

Having some experience in bookselling, I know that shipping can't be free- and it isn't. But signing up at the site is free and so is membership. This means that for the price of media mail postage (usually less than $3.00), you could trade what you have finished reading - or perhaps DVD movie you no longer want- and get another book of equal or greater value. While not entirely cashless because of minimal shipping costs, this is certainly one of the best deals I've seen.

Why is Swaptree so popular now? Why is a company willing to invest millions of dollars in them?

Trading unwanted items has plenty of advantages right now. It certainly saves time and energy compared to driving to the mall. Tech savvy traders know that they can easily print out mailing labels and even ship directly from their home, saving even more time. Basically, Swaptree allows people who want to get the latest books and movies, perhaps to use as gifts during Christmas or birthdays, at a small fraction of what they'd cost new. They're even cheaper than many half-priced book stores and Swaptree doesn't have the fees of a site like Ebay. All of this could be making it super attractive to people who are darwn to trade and barter and eager to move away from spending lots of cash.

What risks exist in bartering and trading through Swaptree? How can those risks be reduced?

No transaction is risk free but I looked at the message boards on the site and was pleasantly surprised by the number of pleased users. Consider the fact that Ebay started on a similar system of trust, with users giving feedback on transactions. Until fees rose and sellers and buyers started to grumble about the increased costs, the site worked very well. I know that because I used Ebay regularly. I'm happy to be able to give away perfectly good books and DVDs that I no longer need if I can get something I do want in return. However, there is always the chance that a deal could fall through. Which is why...

It is important to check a trader's history on Swaptree

My potential trading partner has conducted a number of trades and has 100 percent satisfactory feedback. I'm willing to take a chance on her. Hopefully, she'll do the same for a new user like me. I also figure risks are small because I no longer need this book and I'll only be spending three dollars - or less- to ship it. Small risk and a potential benefit of a new book in return makes this worthwhile to me.

Even if you don't register at Swaptree, the site offers some valuable info

Interested in keeping up with popular books, movies and music - and the latest buzz about them? Check out Swaptree's list of items recently added to member Want lists and you may find something you'd like to buy or trade. Popular books include A Clockwork Orange, Twilight, Surviving a Spiritual Mismatch in Marriage, etc. Popular movies and television shows included Juno, The Office (seasons 1 and 2), Disney Movies and episodes of House.

Sources

Personal experience

Forget Ebay. Use Swaptree, Techcrunch and The Washington Post, Sept 22, 2008:http://www.washingtonpost.com/wp-dyn/content/article/2008/09/22/AR2008092200514.html

Swaptree.com:http://www.swaptree.com