Auctions and Opportunities

Electronic Commerce – Web Auctions
Most people who use the Internet and World Wide Web (www)  have heard of eBay. EBay is one of the original success stories of the era. A software developer in 1995, Pierre Omidyar set up a small auction website for his girlfriend so she could find and exchange with people who collected Pez candy dispensers.

The interest in this website grew so fast, Omidyar quit his job and committed himself to expanding the web auction site he had created. The website eBay experienced extremely rapid growth (in 2 years sales went from $370,000 to $47 million) and was profitable from inception.

EBay is at the forefront of auction web sites and is one of the biggest marketplaces worldwide. Similar sites have been set up (e.g. in the country of NZ the site "" has become one of the largest and most visited site in that country). On a worldwide basis however eBay has such a stronghold on the global market and it is doubtful whether any competitors will be able to compete on an equal level anywhere.

Any auction is an environmen...

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