February 1, 2008, Newsletter Issue #123: eBay

Tip of the Week

eBay is currently the worlds largest online auction site. The company was founded in 1995 and soon grew into an online auction phenomenon. The site offers the traditional goods found on all auction sites -- collectibles, jewelry, electronics, and used equipment of all kinds. eBay has also begun to broker car auctions. Many smaller auction houses in the US have teamed up with eBay to create their own online auctions. Currently, thousands of companies in the US broker their services and products over eBay. The site offers English and Dutch auctions, as well as merchandise at fixed prices. eBay profits by charging a fee for the goods listed on the site. eBay now owns the online payment service, Paypal, which allows its users to pay by credit card or electronic check.

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