Were Online Auctions Just A Fad?

rated by 0 users
This post has 5 Replies | 1 Follower

Top 10 Contributor
Posts 26,098
Points 1,183,570
Joined: Sep 2007
ForumsAdministrator
News Posted: Wed, Jun 4 2008 8:05 AM

Many eBay users are up in arms about the changes in fee structure on the site that favor large vendors selling goods at fixed prices on a "Buy it Now" basis instead of eBay's original auction format. The little vendors who have made the site what it is today don't like it, but eBay might simply be acknowledging the obvious: Online auctions were a fad, and the fad might be over.

What happened to auctions? Not only do shoppers want convenience, they're also looking for value. And the proliferation of pricing information online has made it easier for consumers to bargain-hunt and lessened the need to risk overbidding in an auction. Hershenson recalls when a new $40 toaster could fetch $80 on eBay, thanks to a bidding frenzy. Now, a buyer can figure out the retail price with a few mouse clicks. A study earlier this year by the Pew Internet and American Life Project found that 81% of Internet users research products online before buying. "People have a lot of information at their disposal and that sets a reserve price of what they are willing to pay," says John Horrigan, an associate director at Pew. "It makes sense for eBay to set prices to appeal to that."

So eBay becomes Amazon's competition, with a dash of Craigslist. The real money for the company might be in what was once an afterthought: They own PayPal, and the method of paying for things conveniently on the web might turn out to be a much bigger business than the things themselves.



  • | Post Points: 50
Top 150 Contributor
Posts 636
Points 9,140
Joined: May 2008
Location: Worcester, MA
SqUiD267 replied on Wed, Jun 4 2008 10:41 AM
eBay is over rated..Craiglist all the way! All craiglist needs is a redesign.

AMD Athlon X2 5000+ (Thanks to HH)

DFI Lanparty DK 790 FX

EVGA 8800 GT 512 mb

2 GB of G.Skill RAM

  • | Post Points: 5
Top 10 Contributor
Posts 4,830
Points 45,790
Joined: Feb 2008
Location: Kennesaw
rapid1 replied on Wed, Jun 4 2008 12:48 PM

Yeah, I agree the paypal thing is ebay's ace in the whole. But the worst part about ebay is all the scammers now. I auctioned a laptop on there and relisted it like 5 times. I kept getting people from nairobi (or somewhere in west africa) outbidding everyone for thousands of dollars more than anyone with a right mind would pay. So I ended up selling it to a family friend who needed a good versatile laptop instead.

OS:Win 7 Ultimate 64-bit
MB:ASUS Z87C
CPU:Intel(R) Core(TM) i7 4770 ***
GPU:Geforce GTX 770 4GB
Mem:***ingston 16384MB RAM
  • | Post Points: 20
Top 50 Contributor
Posts 2,747
Points 42,815
Joined: Sep 2006
Location: United States, California

Every item I posted on CL sold less than 24hrs. after posting... awesome!

Craigslist FTW!!!

 

  • | Post Points: 20
Top 500 Contributor
Posts 235
Points 3,045
Joined: Mar 2008
Location: newark nj
higgamo replied on Wed, Jun 4 2008 2:47 PM

yea i post in craigslist easier to tell the scammers from real buyers on there.

  • | Post Points: 5
Top 75 Contributor
Posts 1,677
Points 24,005
Joined: Aug 2002
Location: Pittsburgh, Pennsylvania

I've never used Craiglist.  So is it a local pickup thing? 

I like bidding on eBay because of sniping during the last 15 seconds.  But I do appreciate "Buy it Now" due to the quickness, but only if it's a good deal.  Sometimes they are too high and I'd prefer they were a bid so I could try to snipe.

Hello

  • | Post Points: 5
Page 1 of 1 (6 items) | RSS