ebay Online Auction House

Online Auctions

An online auction is a internet based business model whereby many buyers and sellers are brought together to trade. The seller offers a product for which bids are placed by potential buyers during a defined period of time, at the end of the time period the highest bid wins and the transaction between buyer (the highest bidder) and seller is concluded.

ebay

Founded in late 1995, ebay (http://www.ebay.com) has developed into the most popular online auction house. ebay participants comprise mainly of individuals and small businesses, buying and selling goods and services. Its customer based is now reputed to be around the 160 million mark.

ebay has increased its base and has created localised marketplaces around the world, this includes forays into; Argentina, Australia, Austria, Belgium, Brazil, Canada, China, France, Germany, Hong Kong, India, Ireland, Italy, Korea, Malaysia, Mexico, Netherlands, New Zealand, Philippines, Poland, Singapore, Spain, Sweden, Switzerland, Taiwan, United Kingdom and United States.

The types of goods and services available on ebay are very diverse featuring antiques, books, bikes, computers and laptops, mobile phones, motor car, photography and electronics, sports equipment, tools, toys and wedding dresses with the most expensive item sold (so far) being a $4.9 million business jet airplane.

With such a large marketplace and much diversity in products and services, some very profitatable business have been created which trade entirely on ebay, even some individuals have earned so much they have given up their day jobs.

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ebay Online Auction House

Online Auctions

ebay

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