Pageviews Since May, 2012 (That's when I added this view counter) Website has been up since 2007

Friday, August 17, 2012

So, How Does eBay Work?

In 1995, in San Jose, California, a man named Pierre Omidyar along with Jeff Skoll were working in Pierre's living room on an online marketplace for buying and selling things. eBay was born. Three years later, he  had to start hiring help to run his company due to its growth. He hired Meg Whitman who had studied at Harvard Business School to assist in branding the company. She brought in her senior staff from top notch companies like Pepsi and Disney.

Basically, eBay is an online trading website that brings buyers and sellers together. It's free for buyers to browse and bid on items. Registration is free, but sellers pay an insertion fee and a percentage of sale fee when their items sell. Also, there are extras that you can purchase like bold type or highlighted text. Up to twelve photos can be uploaded to showcase items at no extra charge. You have the option to list items in an auction setting with lowest amount that would accepted and a price that would allow the buyer to buy now without waiting for the bidding period to end.

When a buyer enters a bid on an item, the seller is notified by email and is given the option to accept their bid or outright buying price. Once the seller accepts the price offered, he must then ship the item. He can take advantage of eBay's pre-printed shipping labels for a nominal fee or print his own. If he takes advantage of this option, it will expedite the payment process. Money is deposited quicker through this method by several days. PayPal is encouraged as a means of payment, but credit cards are accepted too. The seller also has the option to pay for shipping or let the buyer pay for it.

Apparently, electronics, books, software, DVD's, clothes, jewelry and shoes are among the top selling items on eBay. But there are websites devoted to nothing but information about some of the crazy things that people buy and sell on eBay. For example, a serial killer's fingernails sold for $9.99. A man in Florida tried to sell his liver for $5.7 million but the law stopped that from happening. A piece of toast with a picture of the face of Jesus was placed up for bid at 99 cents but never sold. After all, why buy something like that without any means to preserve it? However, someone did pay $3,154 for Justin Timberlake's half-eaten toast.

Check out this author's eBay listings:

Suzanne Leavitt Lender's cool stuff on eBay...

No comments: