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ITEX in the News >> For this market, trading is heavy: July 17, 2008 << Return to the ITEX in the News For this market, trading is heavy
By Kathy Lynn Gray In Denise Anderson's world, a bale of hay equals a dozen fresh eggs, and help with a workshop equals a quarter of a lamb. "There's times when you have to pass cash, but we prefer to trade," said Anderson, who operates 2silos egg farm near Mount Gilead in Morrow County with her husband, Cameron. "It works out fantastic for everyone involved." As the economy has soured, the popularity of bartering has softened the impact for many. For Denise Anderson, that means trading eggs for a head of lettuce, a loaf of bread, even a chicken. Swapping goods or services always becomes more popular when people have less cash, said Lucia Dunn, an Ohio State University economics professor. "It's the sign of a weak economy," Dunn said. "People are looking for an opportunity to trade their time or whatever they have. "But bartering is hard. That's why money is such a great convenience." The Andersons trade by word of mouth and by offering their eggs to other farmers with booths at farm markets. Others set up trades through the Internet on sites such as U-Exchange and craigslist. "Money's tight, and I'd rather do a lot of trading if I need something," said Tim Gussler, who's been swapping for six months. He explained a recent trade: "I had an amp and a speaker, and I stuck it on craigslist. I put it on for sale or trade, all trades considered. A dude wrote me back and said he had an Xbox and six games. I talked to him on the phone, and he came to my house. We plugged them in to show each other that they worked." The dude left with the amp and speaker, and Gussler, of the North Side, got the Xbox gaming system and games. Landlord Trish Laquinte of the West Side trades stuff she doesn't need for help with her rental properties. She first swapped a guitar for power washing on a rental; in June she got rid of a washer and dryer in exchange for electrical work. "People are broke, and you can't really get a decent price for anything anymore," Laquinte said. "The service is more valuable to me. And I'm decluttering." Architect Denis Vogel of Clintonville tried bartering for the first time this spring when he needed a hefty recliner hauled out of his basement and taken to a friend's house. His ad was simple: "Move chair get shelf." A small-business owner with a truck called, did the hauling and got the storage shelf. As the price of gas rises, plenty of people are offering to swap trucks, sport-utility vehicles and boats for smaller, more fuel-efficient cars or motorcycles. One asked for a "running vehicle" and offered a set of golf clubs, a crossbow and an "Original Dale Jr. race tire from Mooresville Race track" in trade. "People are looking for a different way to consume goods, and that lets people accept our concept," said Fredrick Roby, chief executive officer and one of two founders of uSwapit, a trading Web site that made its debut in November. "What do they say -- one man's trash is another man's treasure?" Swappers on the site set up a list of items they'll trade, then wait for offers. Books and DVDs are the most popular. The site charges $1 when traders make a deal and another $1 if traders want to be verified on PayPal, an online payment site. Small businesses are trading, too, either informally or by using sites such as ITEX.com. ITEX members get credits for services or products they provide free to other members. Then they use the credits to obtain products or services for themselves. They pay ITEX a fee for each trade. Some trades, offered either by businesses or individuals, fail. Will Duderstadt, 29, of New Albany had no luck trying to snag drum lessons on craigslist in exchange for Web-site help this spring. "I went out on a limb there," he admitted. "It was kind of a niche item I was looking to exchange. I think an object for an object is easier to trade." The Andersons have been bartering goods since they moved to the country and started their egg farm five years ago. One of their first was a trade of chicken and eggs to a graphic designer in exchange for a logo for their farm. Last week, they picked up 20 loads of firewood from an Amish farmer, trading it for a brochure and label Cameron Anderson designed. The farmer threw in 2 gallons of maple syrup. "We think we got a really good deal, and I'm sure he thinks he did, too," Denise Anderson said. View Original News Source: The Columbus Dispatch |
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