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THINKING. Business Revolution – Online Auctions. The Experience. [email protected] November 2000. What’s the problem?. didn’t want? couldn’t inspect goods? was it value? no trust? remedies if something went wrong? did I get the best price?.

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Business revolution online auctions l.jpg

THINKING

Business Revolution – Online Auctions

The Experience

[email protected] 2000


What s the problem l.jpg
What’s the problem?

  • didn’t want?

  • couldn’t inspect goods?

  • was it value?

  • no trust?

  • remedies if something went wrong?

  • did I get the best price?


Ebay some facts and figures l.jpg
eBay – some facts and figures …

  • Operating, profitably, since 1995

  • 18.9 million registered users - buyers and sellers (was 7 million 18 months ago)

  • Around 4 million items at any time- 4,500 categories- 600,000 items added/auctions per day

  • 2.1 million unique visitors per day- use 2hrs/month

  • $US0.01 to $10K’s – average $US50


Ebay model l.jpg
eBay – model …

  • NEW MODEL – electronic one-to-one trading in an auction format

  • electronic listing/bidding/introduction system (Pez container trading)

  • NOT a traditional Auction House - doesn’t handle money or goods

  • most litigious society on earth

  • issues faced – trust, ease of use/training, payment, adding new value, ethical, global market


Ebay how does it work l.jpg
eBay – how does it work …

  • anyone can look

  • buyers and sellers must register

    • Name, address, contact details, email

    • “nickname”

    • Sellers – account for paying eBay fees

  • sellers “list” an item, with a finishing date/time, starting price

  • buyers bid up to the finishing date/time

  • notification, Winner and Seller agree shipping, payment (by email, 3 days to contact)


Ebay bidding simplified l.jpg

Bidder 2 bids $22.00 (max.)

System sets top bid to $19.00

Bidder 3 bids $18.00 (max.)

System sets top bid to $11.00

Bidder 1 bids $10.00 (max.)

Current top

bid

System sets top bid to $5.00

Seller sets $5.00 minimum($1 bid increment)

Current topbid

Seller’s minimum

Seller’s minimum

eBay – bidding (simplified)…

$25

$20

$15

$10

$5


Ebay payment l.jpg
eBay – payment …

  • eBay charges Seller $US0.25 to $2.00 to list, +1.5% to 5% for successful sales

  • Buyer pays Seller direct, inc shipping

    • Cash, or

    • Money order/cheque (usually $US), or

    • Credit card direct – email or secure server or

    • Billpay, Bidpay, Paypal, or

    • iEscrow

  • Seller then sends the goods


Ebay experience l.jpg
eBay – experience …

  • 18 months, 3-person household, buyer only, 80+ things

  • “the mother-load”

  • exposed to most behaviours


Feedback rules l.jpg
Feedback rules?

  • can only be posted by the successful buyer, seller in a transaction

  • once posted, can’t be changed – by anyone - (can respond)

  • overall negative and you’re out (???)

  • some sellers say they won’t deal with ANYONE with negative feedback


Important to buyers l.jpg
Important to buyers?

  • trustable, impartial, transparent system

  • critical mass, find things (despite poor grading), and tracking

  • (“good buy”/bargain)

  • seller who

    • describes accurately

    • communicates clearly

    • easy to pay, won’t abscond

    • ships promptly, economically, safe and sound

  • privacy

  • recourse if things go wrong


Important to sellers l.jpg
Important to sellers?

  • trustable, impartial, transparent system

  • critical mass of bidders

  • best price

  • bidder who

    • communicates clearly, promptly

    • pays

    • won’t falsely claim goods didn’t arrive, damaged

  • privacy

  • recourse if things go wrong


Changing the world l.jpg
Changing the world?

  • NEW – market which didn’t exist

  • global, with global prices ($A = ouch)

  • service industries/spawning

    • middlemen - payment, escow

    • umbrellas – AuctionWatch

    • postal and shipping calculation online

  • (training?), ease of use, clear process maps

  • balance of trust – look mum, no certificates

  • NEW – track sellers, buyers, prices, market intelligence, tools (eg sniping).


Challenges for ebay l.jpg
Challenges for eBay …

  • litigation - really an Auction House?

  • fraud - >10% (20%?) of all internet fraud estimated to be in Auction envt.

  • responsibility for listing:

    • guns

    • body parts

    • soul?

  • flawless 24 x 7



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