Ebay is one of the most well known virtual marketplaces on the internet today. The site operates much like an auction, with users posting items for sale and other users bidding on those items. The highest bidder can purchase the item when the time runs out. Users can also add a “Buy it Now” option that allows anyone to immediately purchase the item and end the auction for a set price. Many individuals and businesses have started their own Ebay stores, which work much like a regular store but through Ebay.
Ebay is one of the most popular sites on the internet. It’s roots go as far back as September 3rd, 1995, when computer programmer Pierre Omidyar built AuctionWeb. AuctionWeb was based in San Jose, California and was intended to be a part of Omidyar’s larger personal website. By 1996, the first employee and first Ebay president was brought on. Site growth exploded from there. Ebay increased in visitors, and even began receiving financial funding. By 2008, Ebay had stretched out across the globe to include international markets. In 2011, eBay has started an aggressive acquisition campaign buying: MissionFish, Magento, Where.com, FigCard and GSI Commerce.
Ebay attracted users in the way it allows anyone to make a few bucks off of things they wanted to sell. The explosive popularity expanded Ebay so that even businesses and corporations were marketing items through its virtual sales floor. The sheer size and diverse selection of items available on Ebay make it a first choice for many.
The Ebay logo has become very recognizable all over the web. The site itself offers a professional lay out and design with a lot of functionality. Users can easily customize their auctions, adding content, images, or paying for highlights and other extra items. Buyers on the other end of the transaction can easily browse search results to narrow down their choices and find the items they really want. Ebay guides users through each step of the auction process while leaving a lot of room for personality and creativity when selling an item.
Anyone that wants to buy or sell on Ebay must create an account. This is done by clicking on the bold red “Register” button positioned right on the homepage. The use is asked to supply a first and last name, street address, city, state, zip code, country, and primary phone number. The form also asks for a password, email address, username, and secret question and answer, and a date of birth. Once the user has verified and created their account, they can begin bidding or posting items for sale.
How much Ebay costs for a buyer really depends on how much the buyer spends. There are no fees for creating an account. The user can shop as much or little as they like. On the other hand, sellers are charged an insertion fee for listing items. The insertion fee is determined by the starting price as well as category the item is listed under. If the user sets a reserve amount, then the fee will be based on that. Listing upgrades also cost money, and can allow users to choose a subtitle, additional photo, or listing highlight at an additional fee. These are purchased al la carte and not a requirement to post on Ebay. Lastly, the seller is charged a Final Value fee, which is based on the sale price should the item sell. This fee is determined on the actual sale price and not shipping and handling costs.
Anyone who wants to buy or sell online can appreciate the tools available on Ebay. The site already has an enormous market, which gives your listing the opportunity to be seen by many buyers. Although there are multiple fees for sellers, these can be offset by choosing the right price. The fees are also far less than it would cost to set up a retail website and pay for marketing to drive traffic to the site.