Word: ans
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Dates: during 1990-1999
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When Sharon Balkowitsch sold antiques from a stall in Bismarck, N.D., she was a victim of geography. There were few buyers in her hometown of 54,000, and prices were low. She started putting her wares up for auction on eBay last year and suddenly found herself part of the...
Welcome to the eBay revolution. Auction sites are one of the hottest corners of cyberspace right now. Online bidders are eagerly competing for new ovens ubid.com and used microscopes going-going-sold.com) There are service auctions, where lawyers can underbid one another for assignments to register patents elance.com) and reverse auctions, where...
For an industry that's all of four years old, the dollar amounts are staggering: $4.5 billion in sales this year, and an estimated $15.5 billion by 2001. eBay is the dominant player in the online-auction world, with 7.7 million registered users bidding on some 3 million items. But...
Online auctions have their limits. Auctions are most useful for setting the price of goods of indeterminate value. (Some of the earliest ones were held by Roman soldiers selling off battle loot.) Auctions make more sense for items whose worth is uncertain (an antique chair or a used forklift) than...
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...