Founded in April 2006, we are a company that was established by several people with widely differing backgrounds and expertise who are dedicated to a singular concept, a Web site known as BarterQuest. BarterQuest is a trading platform designed for the individual. Goods, services, and the use of real estate can be traded, from anyone to anyone, anywhere in the world. It will be the first trading site to fully exploit the advantages of the Internet and allow people like yourself to realize the possibilities of getting stuff for stuff, of excluding the middle man, of avoiding the need for money to get what you want. Anyone who has anything that may be of value to anyone else can be a successful user of our site.
Our path has been challenging. But we are believers. Our Web design has rapidly evolved into a user friendly interface that should be fun to use. The back end was developed in partnership with the Polytechnic Institute of New York University to support both two party and multi-party trading. The matching and trading systems, including the multi-party trading engine, are completed, subject to beta testing. Provisional U.S. patents were filed in October 2006 and three non-provisional U.S. patents were filed in July 2007. International patents have been filed.
Initially self-funded by its founders, increasingly people who learned of the BarterQuest concept have also become believers and invested their money in our company. Just as this is a people’s site, we would like as much as possible for our investors to be people, not institutions. We are committed to realizing the promise of BarterQuest to reward their belief in us.
We are excited about the possibilities for Internet based trading by individuals. We have all traded baseball cards, books, CDs and DVDs, stamps or coins, seashells and river stones, even the shirts off our backs. But in each case the trades required that we would be lucky enough to find someone nearby who had what we wanted and wanted what we had. The magic of the Internet is its ability to support the creation of a virtual marketplace populated with millions of traders who have millions of items for trade. BarterQuest will enable these traders to complete their trades by instantly matching haves with wants. We sincerely hope that our site will have a positive impact on the lives of its users, making it easier for them find the things they want (or need) while, at the same time, saving them money. We expect that our site will have a significant impact on how business is done and, by promoting trade, help protect our planet.
Bartering Can Save You Money
By its very nature, barter requires no money. Not only can you exchange an item that you have for something you want, but you can acquire something you need without paying cash.
Trading can save you money by immediately lowering your transaction costs. When you sell an item you can suffer a significant discount below its actual replacement value. When you trade, each trading partner has determined that there will be a fair exchange. By your own reckoning, you will receive something that is of equal value to the item you had. Moreover, in certain cases, trading can have significant tax advantages to buying and selling.
In the long term, by recycling you avoid the cost of constantly adding to what you have. Not only is it wasteful to accumulate unused items, it is expensive.
Trading is Green
To trade is to conserve resources. By trading, the expenditure of resources on the manufacture and distribution of new things is concomitantly reduced. A global market for barter represents the ultimate application of the environmental admonition to eliminate waste and save our planet.