Word: ands
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Dates: during 1990-1999
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Industrial players are also getting in on the online-auction craze, driving down the cost of equipment by bidding to buy it directly from suppliers. There are business-to-business sites for construction equipment ironmall.com and for farm machinery like cotton pickers farmbid.com) Bulk quantities of latex paint are up...
Global auctions are the kind of ideal market Adam Smith could only have dreamed of. Sellers are, at least in theory, guaranteed a price that isn't too low: they get to sell to the highest bidder anywhere in the world. And buyers are assured the price isn't too...
But online auctions are shaking up the way America does business. People are quitting their day jobs and finding they can support themselves entirely by selling on eBay and other auction sites. Traditional retailers are significantly augmenting their revenue by selling on eBay, and some are shutting down their stores...
Some of the impact will be more profound. Online auctions may destabilize the notion of a fixed price, leading buyers and sellers in all kinds of transactions to negotiate more over what items should cost. And they are likely to further erode the economic barriers between nations, speeding the way...
It all began with Pez and a man named Pierre Omidyar, now 32. In the summer of 1995 Omidyar's fiance (now wife) Pam, who collected Pez dispensers, was bemoaning how hard it was to find other people to trade with in the San Francisco Bay Area. Omidyar was already...