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Metalworking (rec.crafts.metalworking) Discuss various aspects of working with metal, such as machining, welding, metal joining, screwing, casting, hardening/tempering, blacksmithing/forging, spinning and hammer work, sheet metal work. |
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#1
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Auctions on eBay: A Dying Breed
For all of us who shop at Ebay....
TMT Auctions on eBay: A Dying Breed By Catherine Holahan Tue Jun 3, 8:08 AM ET Bruce Hershenson, who auctions vintage posters online, is hanging up his eBay gavel. For almost a decade, Hershenson's business epitomized the e-commerce that made eBay (NasdaqGS:EBAY - News) famous. He sold rare, collectible, sometimes kitschy memorabilia in online auctions that had a starting bid of 99%. But as the business of buying and selling over the Internet has matured, the thrill and novelty of auctions have given way to the convenience of one-click purchases. Hershenson will hold his last eBay auction June 3. "The auctions are nothing like what they once were," he says. "They won't ever come back." Auctions were once a pillar of e-commerce. People didn't simply shop on eBay. They hunted, they fought, they sweated, they won. These days, consumers are less enamored of the hassle of auctions, preferring to buy stuff quickly at a fixed price. Hershenson is emblematic of the legions of small business people who built their livelihoods on eBay but -- like eBay itself -- are having to rethink their whole approach to online sales. Sales at Amazon.com (NasdaqGS:AMZN - News), the leader in online sales of fixed-price goods, rose 37% in the first quarter of 2008. At eBay, where auctions make up 58% of the site's sales, revenue rose 14%. "If I really want something I'm not going to goof around (in auctions) for a small savings," says Dave Dribin, a 34-year-old Chicago resident who used to bid on eBay items, but now only buys retail. E-Commerce Continues to Evolve Executives at eBay have gotten the message. Since taking the helm in March, eBay Chief Executive John Donahoe has made it clear that fixed- priced items are key to future growth. EBay's "Buy It Now" business, where shoppers can purchase items at a set price even when the merchandise is also listed in an auction, makes up 42% of all goods sold on eBay. It's growing at an annual 22% pace, the fastest among eBay's shopping businesses. "As (Web) search has developed, you can get a great deal in a fixed-price format," Donahoe said in an Apr. 16 interview after his first earnings call as eBay's top executive. "We are going to let our buyers choose." Donahoe did not comment for this story. At the current pace, this may be the first year that eBay generates more revenue from fixed-price sales than from auctions, analysts say. "The bloom is well off the rose with regard to the online-auction thing," says Tim Boyd, an analyst with American Technology Research. "Auctions are losing a ton of share, and fixed price has been gaining pretty steadily." To hasten the growth, Donahoe is spearheading changes to make eBay more friendly to users who favor one-click shopping. While former CEO Meg Whitman ended her tenure amid an ad campaign that championed auctions, urging consumers to "Shop Victoriously," Donahoe has taken steps to increase fixed-price inventory. In May, eBay announced a partnership with Buy.com to sell a large swath of the retailer's inventory for set prices. "EBay has significantly de-emphasized dynamic-priced items in favor of fixed-price listings in the last six months," says Cantor Fitzgerald analyst Derek Brown. EBay Fees Favor Fixed Prices Perhaps the biggest example of eBay's new fixed-price focus is the new fee structure, announced in January. The changes gave breaks to many large vendors who sell fixed-priced goods on the site, while hiking fees for many eBay users who sell using a traditional auction structure (BusinessWeek.com, 1/29/08). EBay executives say auctions will always have a place on the site. In the future, the company plans to alter fees so that auction sellers don't feel so pinched, though executives have not provided details. The company also intends to showcase additional features that meld auctions and fixed-price listings during and after the annual eBay Live event, to be held this year in Chicago, June 19-21. One possible new feature is a split screen that shows an auction on one side and the Buy It Now price on the other. "Auction-style listings are what keeps the site unique, but fixed price is growing much faster," says eBay spokesman Usher Lieberman. 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." Auctioneers Up in Arms But as eBay aligns its focus with the majority of buyers, sellers like Hershenson lose out. When he first heard of the fee hike, at a seller meeting in Washington with eBay management, Hershenson says he stood up and complained. "I said 'I am exactly the kind of seller who built eBay and brings people to eBay on a daily basis. And it seems to me your changes are hitting me hardest,'" he says, adding that his annual fees would have jumped from $120,000 to nearly $180,000. Rather than pay the fee hike, Hershenson decided to move his business onto his own Web site, eMoviePoster.com. He auctions 1,000 to 1,500 items on his own site every Tuesday and Thursday. Because Hershenson's merchandise is popular among a specific set of collectors, he feels confident that his customers will follow him and says that most already have. He believes he can attract others with some well-placed ads, purchased with what he saved for not paying the higher fees on eBay. Not all eBay sellers have the luxury of branching out on their own or moving to a third-party site. When it comes to auctions, eBay is one of the few games in town. Even though growth is slowing in eBay's auction business, the site has nearly 90 million active users. Other auction sites such as Ubid.com (ubhi.ob.OB) have far fewer visitors. Ten-year-old Ubid had 181,000 active bidders in the first quarter, according to its quarterly report. EBay sellers organized a weeklong sales boycott in February protesting the changes announced in January. "Everybody is mad because they feel that this company got built on them, and when eBay felt that they no longer needed them, they tried to get rid of them," says Maggie Dressler, an eBay seller who has auctioned antique trains and toys on the site since 2001. "It is deplorable." Many auctioneers may have no choice but to close shop, says Hershenson, adding, "Their latest changes will have the result of ending auctions as we know it on eBay." |
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Auctions on eBay: A Dying Breed
On Jun 3, 12:35*pm, Too_Many_Tools wrote:
For all of us who shop at Ebay.... TMT Auctions on eBay: A Dying Breed By Catherine Holahan Tue Jun 3, 8:08 AM ET I doubt many individuals will be effected. We'll just continue business as usual. For the most active sellers this may be a "give" to compensate for the change in feedback rules. dennis in nca |
#3
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Auctions on eBay: A Dying Breed
Oh, I dunno. I just bought a 1 ghz AMD Athalon socket A cpu for $2.50 +
6.50 SH. on Ebay. Works too. Spare for 3 of my puters. JR Dweller in the cellar Too_Many_Tools wrote: For all of us who shop at Ebay.... TMT Auctions on eBay: A Dying Breed By Catherine Holahan Tue Jun 3, 8:08 AM ET Home Page: http://www.seanet.com/~jasonrnorth If you're not the lead dog, the view never changes Doubt yourself, and the real world will eat you alive The world doesn't revolve around you, it revolves around me No skeletons in the closet; just decomposing corpses -------------------------------------------------------------- Dependence is Vulnerability: -------------------------------------------------------------- "Open the Pod Bay Doors please, Hal" "I'm sorry, Dave, I'm afraid I can't do that.." |
#4
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Auctions on eBay: A Dying Breed
I am a eBay user and have been for a long time. I do not see these changes
as a negative. eBay has rightly recognized the increase in transactions based upon the convenience of "Buy it Now" and has responded to it. There will always be a place for auctions, especially with used items. You rarely see the "Buy it Now" option for the used items. It is normally used for "New" . What problem! Now, I do not like the change of not being able to review the profiles of my anction competitors, because this allowed me to determine if the bidder is a dealer, collector, hobbist or professional and that information helped me determine the bidding stategy I would use. I think the feedback changes are also helpful. It now prevents the case which caused my only negative in all the years I have been using eBay, where I won a baseball cap for $10 and the seller then charged me $20 to mail the thing USPS and it was not stated in the auction. I told him to "**** Off" and that caused my only negative. This situation cannot happen now. Steve "Too_Many_Tools" wrote in message ... For all of us who shop at Ebay.... TMT Auctions on eBay: A Dying Breed By Catherine Holahan Tue Jun 3, 8:08 AM ET Bruce Hershenson, who auctions vintage posters online, is hanging up his eBay gavel. For almost a decade, Hershenson's business epitomized the e-commerce that made eBay (NasdaqGS:EBAY - News) famous. He sold rare, collectible, sometimes kitschy memorabilia in online auctions that had a starting bid of 99%. But as the business of buying and selling over the Internet has matured, the thrill and novelty of auctions have given way to the convenience of one-click purchases. Hershenson will hold his last eBay auction June 3. "The auctions are nothing like what they once were," he says. "They won't ever come back." Auctions were once a pillar of e-commerce. People didn't simply shop on eBay. They hunted, they fought, they sweated, they won. These days, consumers are less enamored of the hassle of auctions, preferring to buy stuff quickly at a fixed price. Hershenson is emblematic of the legions of small business people who built their livelihoods on eBay but -- like eBay itself -- are having to rethink their whole approach to online sales. Sales at Amazon.com (NasdaqGS:AMZN - News), the leader in online sales of fixed-price goods, rose 37% in the first quarter of 2008. At eBay, where auctions make up 58% of the site's sales, revenue rose 14%. "If I really want something I'm not going to goof around (in auctions) for a small savings," says Dave Dribin, a 34-year-old Chicago resident who used to bid on eBay items, but now only buys retail. E-Commerce Continues to Evolve Executives at eBay have gotten the message. Since taking the helm in March, eBay Chief Executive John Donahoe has made it clear that fixed- priced items are key to future growth. EBay's "Buy It Now" business, where shoppers can purchase items at a set price even when the merchandise is also listed in an auction, makes up 42% of all goods sold on eBay. It's growing at an annual 22% pace, the fastest among eBay's shopping businesses. "As (Web) search has developed, you can get a great deal in a fixed-price format," Donahoe said in an Apr. 16 interview after his first earnings call as eBay's top executive. "We are going to let our buyers choose." Donahoe did not comment for this story. At the current pace, this may be the first year that eBay generates more revenue from fixed-price sales than from auctions, analysts say. "The bloom is well off the rose with regard to the online-auction thing," says Tim Boyd, an analyst with American Technology Research. "Auctions are losing a ton of share, and fixed price has been gaining pretty steadily." To hasten the growth, Donahoe is spearheading changes to make eBay more friendly to users who favor one-click shopping. While former CEO Meg Whitman ended her tenure amid an ad campaign that championed auctions, urging consumers to "Shop Victoriously," Donahoe has taken steps to increase fixed-price inventory. In May, eBay announced a partnership with Buy.com to sell a large swath of the retailer's inventory for set prices. "EBay has significantly de-emphasized dynamic-priced items in favor of fixed-price listings in the last six months," says Cantor Fitzgerald analyst Derek Brown. EBay Fees Favor Fixed Prices Perhaps the biggest example of eBay's new fixed-price focus is the new fee structure, announced in January. The changes gave breaks to many large vendors who sell fixed-priced goods on the site, while hiking fees for many eBay users who sell using a traditional auction structure (BusinessWeek.com, 1/29/08). EBay executives say auctions will always have a place on the site. In the future, the company plans to alter fees so that auction sellers don't feel so pinched, though executives have not provided details. The company also intends to showcase additional features that meld auctions and fixed-price listings during and after the annual eBay Live event, to be held this year in Chicago, June 19-21. One possible new feature is a split screen that shows an auction on one side and the Buy It Now price on the other. "Auction-style listings are what keeps the site unique, but fixed price is growing much faster," says eBay spokesman Usher Lieberman. 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." Auctioneers Up in Arms But as eBay aligns its focus with the majority of buyers, sellers like Hershenson lose out. When he first heard of the fee hike, at a seller meeting in Washington with eBay management, Hershenson says he stood up and complained. "I said 'I am exactly the kind of seller who built eBay and brings people to eBay on a daily basis. And it seems to me your changes are hitting me hardest,'" he says, adding that his annual fees would have jumped from $120,000 to nearly $180,000. Rather than pay the fee hike, Hershenson decided to move his business onto his own Web site, eMoviePoster.com. He auctions 1,000 to 1,500 items on his own site every Tuesday and Thursday. Because Hershenson's merchandise is popular among a specific set of collectors, he feels confident that his customers will follow him and says that most already have. He believes he can attract others with some well-placed ads, purchased with what he saved for not paying the higher fees on eBay. Not all eBay sellers have the luxury of branching out on their own or moving to a third-party site. When it comes to auctions, eBay is one of the few games in town. Even though growth is slowing in eBay's auction business, the site has nearly 90 million active users. Other auction sites such as Ubid.com (ubhi.ob.OB) have far fewer visitors. Ten-year-old Ubid had 181,000 active bidders in the first quarter, according to its quarterly report. EBay sellers organized a weeklong sales boycott in February protesting the changes announced in January. "Everybody is mad because they feel that this company got built on them, and when eBay felt that they no longer needed them, they tried to get rid of them," says Maggie Dressler, an eBay seller who has auctioned antique trains and toys on the site since 2001. "It is deplorable." Many auctioneers may have no choice but to close shop, says Hershenson, adding, "Their latest changes will have the result of ending auctions as we know it on eBay." |
#5
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Auctions on eBay: A Dying Breed
I sometimes get the feeling that the seller is driving up the price
right at the last second. All the seller has to do is list it on the work computer and bid it up on the home computer. If I use the Buy It Now, the seller doesn't have that opportunity. Most times, I only look at Buy It Now items just for that reason. When I bid on an item, I set the price I'm willing to pay and I don't look at it again. |
#6
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Auctions on eBay: A Dying Breed
"Too_Many_Tools" wrote in message ... For all of us who shop at Ebay.... Auctions on eBay: A Dying Breed By Catherine Holahan Tue Jun 3, 8:08 AM ET big snip I am an infrequent eBay user since about 2 years (50 feed backs, mixed buy and sell, 100% positive). During this time I have noticed changes that disadvantage small individual sellers in favour of large ones. 1) Insertion fee increase. 15% of $0.99 is a disincentive to insert low-priced items. 2) Use of PayPal now compulsory. I have calculated that between the Final value fees, PayPal fees ( effectively around 4 - 4.5% off not just the item price but also shipping) and insertion fees *at promotion value of 5 cents* eBay took a whopping 28.2% off the value of the purchase. Not related to eBay policies but relevant, especially here in Canada, is the increase in shipping costs. It is hard to convince anyone to pay $17 shipping for a $2 item. The latter works against you both as a sell and a buyer: Outbidding someone in the US is harder if you have to factor double or more shipping costs. Still, eBay is the only game in town worth mentioning. But if history teaches us anything, that is usually not a good thing. -- Michael Koblic, Campbell River, BC |
#7
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Auctions on eBay: A Dying Breed
If you use ebay a lot, negative feedback is a big deal.
I had the same thing happen to me a few weeks ago, a dealer dinked me because I left him NEUTRAL feedback. I thought the new rules were in effect already, and it cost me. Robert Swinney wrote: Thanx, Steve ! It is good to know I may be saved from that most terrible happenstance . . . that of negative feedback! I will now be able to sleep better on that rare night that I sell anything on ebay. Bob Swinney "Steve Lusardi" wrote in message ... I am a eBay user and have been for a long time. I do not see these changes as a negative. eBay has rightly recognized the increase in transactions based upon the convenience of "Buy it Now" and has responded to it. There will always be a place for auctions, especially with used items. You rarely see the "Buy it Now" option for the used items. It is normally used for "New" . What problem! Now, I do not like the change of not being able to review the profiles of my anction competitors, because this allowed me to determine if the bidder is a dealer, collector, hobbist or professional and that information helped me determine the bidding stategy I would use. I think the feedback changes are also helpful. It now prevents the case which caused my only negative in all the years I have been using eBay, where I won a baseball cap for $10 and the seller then charged me $20 to mail the thing USPS and it was not stated in the auction. I told him to "**** Off" and that caused my only negative. This situation cannot happen now. Steve "Too_Many_Tools" wrote in message ... For all of us who shop at Ebay.... TMT Auctions on eBay: A Dying Breed By Catherine Holahan Tue Jun 3, 8:08 AM ET Bruce Hershenson, who auctions vintage posters online, is hanging up his eBay gavel. For almost a decade, Hershenson's business epitomized the e-commerce that made eBay (NasdaqGS:EBAY - News) famous. He sold rare, collectible, sometimes kitschy memorabilia in online auctions that had a starting bid of 99%. But as the business of buying and selling over the Internet has matured, the thrill and novelty of auctions have given way to the convenience of one-click purchases. Hershenson will hold his last eBay auction June 3. "The auctions are nothing like what they once were," he says. "They won't ever come back." Auctions were once a pillar of e-commerce. People didn't simply shop on eBay. They hunted, they fought, they sweated, they won. These days, consumers are less enamored of the hassle of auctions, preferring to buy stuff quickly at a fixed price. Hershenson is emblematic of the legions of small business people who built their livelihoods on eBay but -- like eBay itself -- are having to rethink their whole approach to online sales. Sales at Amazon.com (NasdaqGS:AMZN - News), the leader in online sales of fixed-price goods, rose 37% in the first quarter of 2008. At eBay, where auctions make up 58% of the site's sales, revenue rose 14%. "If I really want something I'm not going to goof around (in auctions) for a small savings," says Dave Dribin, a 34-year-old Chicago resident who used to bid on eBay items, but now only buys retail. E-Commerce Continues to Evolve Executives at eBay have gotten the message. Since taking the helm in March, eBay Chief Executive John Donahoe has made it clear that fixed- priced items are key to future growth. EBay's "Buy It Now" business, where shoppers can purchase items at a set price even when the merchandise is also listed in an auction, makes up 42% of all goods sold on eBay. It's growing at an annual 22% pace, the fastest among eBay's shopping businesses. "As (Web) search has developed, you can get a great deal in a fixed-price format," Donahoe said in an Apr. 16 interview after his first earnings call as eBay's top executive. "We are going to let our buyers choose." Donahoe did not comment for this story. At the current pace, this may be the first year that eBay generates more revenue from fixed-price sales than from auctions, analysts say. "The bloom is well off the rose with regard to the online-auction thing," says Tim Boyd, an analyst with American Technology Research. "Auctions are losing a ton of share, and fixed price has been gaining pretty steadily." To hasten the growth, Donahoe is spearheading changes to make eBay more friendly to users who favor one-click shopping. While former CEO Meg Whitman ended her tenure amid an ad campaign that championed auctions, urging consumers to "Shop Victoriously," Donahoe has taken steps to increase fixed-price inventory. In May, eBay announced a partnership with Buy.com to sell a large swath of the retailer's inventory for set prices. "EBay has significantly de-emphasized dynamic-priced items in favor of fixed-price listings in the last six months," says Cantor Fitzgerald analyst Derek Brown. EBay Fees Favor Fixed Prices Perhaps the biggest example of eBay's new fixed-price focus is the new fee structure, announced in January. The changes gave breaks to many large vendors who sell fixed-priced goods on the site, while hiking fees for many eBay users who sell using a traditional auction structure (BusinessWeek.com, 1/29/08). EBay executives say auctions will always have a place on the site. In the future, the company plans to alter fees so that auction sellers don't feel so pinched, though executives have not provided details. The company also intends to showcase additional features that meld auctions and fixed-price listings during and after the annual eBay Live event, to be held this year in Chicago, June 19-21. One possible new feature is a split screen that shows an auction on one side and the Buy It Now price on the other. "Auction-style listings are what keeps the site unique, but fixed price is growing much faster," says eBay spokesman Usher Lieberman. 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." Auctioneers Up in Arms But as eBay aligns its focus with the majority of buyers, sellers like Hershenson lose out. When he first heard of the fee hike, at a seller meeting in Washington with eBay management, Hershenson says he stood up and complained. "I said 'I am exactly the kind of seller who built eBay and brings people to eBay on a daily basis. And it seems to me your changes are hitting me hardest,'" he says, adding that his annual fees would have jumped from $120,000 to nearly $180,000. Rather than pay the fee hike, Hershenson decided to move his business onto his own Web site, eMoviePoster.com. He auctions 1,000 to 1,500 items on his own site every Tuesday and Thursday. Because Hershenson's merchandise is popular among a specific set of collectors, he feels confident that his customers will follow him and says that most already have. He believes he can attract others with some well-placed ads, purchased with what he saved for not paying the higher fees on eBay. Not all eBay sellers have the luxury of branching out on their own or moving to a third-party site. When it comes to auctions, eBay is one of the few games in town. Even though growth is slowing in eBay's auction business, the site has nearly 90 million active users. Other auction sites such as Ubid.com (ubhi.ob.OB) have far fewer visitors. Ten-year-old Ubid had 181,000 active bidders in the first quarter, according to its quarterly report. EBay sellers organized a weeklong sales boycott in February protesting the changes announced in January. "Everybody is mad because they feel that this company got built on them, and when eBay felt that they no longer needed them, they tried to get rid of them," says Maggie Dressler, an eBay seller who has auctioned antique trains and toys on the site since 2001. "It is deplorable." Many auctioneers may have no choice but to close shop, says Hershenson, adding, "Their latest changes will have the result of ending auctions as we know it on eBay." |
#8
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Auctions on eBay: A Dying Breed
On Fri, 06 Jun 2008 16:30:58 -0500, with neither quill nor qualm, Rex
quickly quoth: If you use ebay a lot, negative feedback is a big deal. I had the same thing happen to me a few weeks ago, a dealer dinked me because I left him NEUTRAL feedback. I thought the new rules were in effect already, and it cost me. So hunt him down and... vbg I've about had it with those sock cuckers at eBay... And a vendor just delayed shipment of an item I won because they forgot their email address. "I thought we were using instead of . Sorry." Fidiots. -- To change one's self is sufficient. It's the idiots who want to change the world who are causing all the trouble --Anonymous |
#9
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Auctions on eBay: A Dying Breed
On Jun 6, 3:26*pm, "Robert Swinney" wrote:
IMO, the whole feedback thing is an asinine, childish, inane load of crap. *Feedback is a ploy contrived by ebay to make the users think they have some sort of power over others. *A throwback to one's grammer school days when there was comfort in the knowledge you could squeal to teacher if somebody picked on you; or curry favor with teacher by getting along with others. Bob Swinney " wrote in messagenews:kNudnaKF5L0PMdTVnZ2dnUVZ_t3inZ2d@earth link.com... If you use ebay a lot, negative feedback is a big deal. I had the same thing happen to me a few weeks ago, a dealer dinked me because I left *him NEUTRAL feedback. *I thought the new rules were in effect already, and it cost me. Robert Swinney wrote: Thanx, Steve ! *It is good to know I may be saved from that most terrible happenstance . . . that of negative feedback! *I will now be able to sleep better on that rare night that I sell anything on ebay. Bob Swinney "Steve Lusardi" wrote in message ... I am a eBay user and have been for a long time. I do not see these changes as a negative. eBay has rightly recognized the increase in transactions based upon the convenience of "Buy it Now" and has responded to it. There will always be a place for auctions, especially with used items. You rarely see the "Buy it Now" option for the used items. It is normally used for "New" . What problem! Now, I do not like the change of not being able to review the profiles of my anction competitors, because this allowed me to determine if the bidder is a dealer, collector, hobbist or professional and that information helped me determine the bidding stategy I would use. I think the feedback changes are also helpful. It now prevents the case which caused my only negative in all the years I have been using eBay, where I won a baseball cap for $10 and the seller then charged me $20 to mail the thing USPS and it was not stated in the auction. I told him to "**** Off" and that caused my only negative. This situation cannot happen now. Steve "Too_Many_Tools" wrote in message ... For all of us who shop at Ebay.... TMT Auctions on eBay: A Dying Breed By Catherine Holahan Tue Jun 3, 8:08 AM ET Bruce Hershenson, who auctions vintage posters online, is hanging up his eBay gavel. For almost a decade, Hershenson's business epitomized the e-commerce that made eBay (NasdaqGS:EBAY - News) famous. He sold rare, collectible, sometimes kitschy memorabilia in online auctions that had a starting bid of 99%. But as the business of buying and selling over the Internet has matured, the thrill and novelty of auctions have given way to the convenience of one-click purchases. Hershenson will hold his last eBay auction June 3. "The auctions are nothing like what they once were," he says. "They won't ever come back." Auctions were once a pillar of e-commerce. People didn't simply shop on eBay. They hunted, they fought, they sweated, they won. These days, consumers are less enamored of the hassle of auctions, preferring to buy stuff quickly at a fixed price. Hershenson is emblematic of the legions of small business people who built their livelihoods on eBay but -- like eBay itself -- are having to rethink their whole approach to online sales. Sales at Amazon.com (NasdaqGS:AMZN - News), the leader in online sales of fixed-price goods, rose 37% in the first quarter of 2008. At eBay, where auctions make up 58% of the site's sales, revenue rose 14%. "If I really want something I'm not going to goof around (in auctions) for a small savings," says Dave Dribin, a 34-year-old Chicago resident who used to bid on eBay items, but now only buys retail. E-Commerce Continues to Evolve Executives at eBay have gotten the message. Since taking the helm in March, eBay Chief Executive John Donahoe has made it clear that fixed- priced items are key to future growth. EBay's "Buy It Now" business, where shoppers can purchase items at a set price even when the merchandise is also listed in an auction, makes up 42% of all goods sold on eBay. It's growing at an annual 22% pace, the fastest among eBay's shopping businesses. "As (Web) search has developed, you can get a great deal in a fixed-price format," Donahoe said in an Apr. 16 interview after his first earnings call as eBay's top executive. "We are going to let our buyers choose." Donahoe did not comment for this story. At the current pace, this may be the first year that eBay generates more revenue from fixed-price sales than from auctions, analysts say. "The bloom is well off the rose with regard to the online-auction thing," says Tim Boyd, an analyst with American Technology Research. "Auctions are losing a ton of share, and fixed price has been gaining pretty steadily." To hasten the growth, Donahoe is spearheading changes to make eBay more friendly to users who favor one-click shopping. While former CEO Meg Whitman ended her tenure amid an ad campaign that championed auctions, urging consumers to "Shop Victoriously," Donahoe has taken steps to increase fixed-price inventory. In May, eBay announced a partnership with Buy.com to sell a large swath of the retailer's inventory for set prices. "EBay has significantly de-emphasized dynamic-priced items in favor of fixed-price listings in the last six months," says Cantor Fitzgerald analyst Derek Brown. EBay Fees Favor Fixed Prices Perhaps the biggest example of eBay's new fixed-price focus is the new fee structure, announced in January. The changes gave breaks to many large vendors who sell fixed-priced goods on the site, while hiking fees for many eBay users who sell using a traditional auction structure (BusinessWeek.com, 1/29/08). EBay executives say auctions will always have a place on the site. In the future, the company plans to alter fees so that auction sellers don't feel so pinched, though executives have not provided details. The company also intends to showcase additional features that meld auctions and fixed-price listings during and after the annual eBay Live event, to be held this year in Chicago, June 19-21. One possible new feature is a split screen that shows an auction on one side and the Buy It Now price on the other. "Auction-style listings are what keeps the site unique, but fixed price is growing much faster," says eBay spokesman Usher Lieberman. 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." Auctioneers Up in Arms But as eBay aligns its focus with the majority of buyers, sellers like Hershenson lose out. When he first heard of the fee hike, at a seller meeting in Washington with eBay management, Hershenson says he stood up and complained. "I said 'I am exactly the kind of seller who built eBay and brings people to eBay on a daily basis. And it seems to me your changes are hitting me hardest,'" he says, adding that his annual fees would have jumped from $120,000 to nearly $180,000. Rather than pay the fee hike, Hershenson decided to move his business onto his own Web site, eMoviePoster.com. He auctions 1,000 to 1,500 items on his own site every Tuesday and Thursday. Because Hershenson's merchandise is popular among a specific set of collectors, he feels confident that his customers will follow him and says that most already have. He believes he can attract others with some well-placed ads, purchased with what he saved for not paying the higher fees on eBay. Not all eBay sellers have the luxury of branching out on their own or moving to a third-party site. When it comes to auctions, eBay is one of the few games in town. Even though growth is slowing in eBay's auction business, the site has nearly 90 million active users. Other auction sites such as Ubid.com (ubhi.ob.OB) have far fewer visitors. Ten-year-old Ubid had 181,000 active bidders in the first quarter, according to its quarterly report. EBay sellers organized a weeklong sales boycott in February protesting the changes announced in January. "Everybody is mad because they feel that this company got built on them, and when eBay felt that they no longer needed them, they tried to get rid of them," says Maggie Dressler, an eBay seller who has auctioned antique trains and toys on the site since 2001. "It is deplorable." Many auctioneers may have no choice but to close shop, says Hershenson, adding, "Their latest changes will have the result of ending auctions as we know it on eBay."- Hide quoted text - - Show quoted text - But, to anyone who has ever asked another person about their experiences with a particulat store or business, the feedback system has much value. On the other hand, any vendor who likes to play fast and loose with the rules, will certainly detest this system because, IMHO, nothing will flush a rat out of its hole faster than a strong blast of truth, YMMV. dennis in nca |
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