Word: auction
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Dates: during 2000-2009
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...Ebay, Google's top advertiser, pulled its ads from the search giant's site after Google announced that it would hold a party Thursday night in Boston, where eBay had planned activities that evening as part of its Live! 2007 conference, a gathering of the auction site's devotees. The planned Google celebration devolved into a Boston tea party of sorts, with eBay dropping Google ads in protest of the search engine's party poaching. Google then backed off, canceling its shindig. EBay played it cool, announcing that its ad purchases were halted as part of a routine test...
...spat reflects growing tensions between the search and auction giants as each races onto the other's turf. Over the past year Google has ramped up Checkout, its online payment tool that competes with eBay'sPayPal, and eBay recently launched an auction marketplace for TV and radio ads aimed at media ad markets that Google is also targeting...
Ticketmaster has the most ground to cover in the red-hot resale market. The secondary market for online sports and entertainment tickets--on websites such as StubHub, RazorGator and TicketsNow--has grown to an estimated $3 billion since 2000. The industry leader, StubHub, operates as an open auction, taking a surcharge on each sale. Popular events go for incredible amounts--$10,287 for Super Bowl XLI and $5,500 for Elton John's 60th-birthday bash--but there are also bargains to be had from season-ticket holders, for example...
...attract interest, but fans end up paying an average of 45% above face value for resold tickets, according to a study by Alan Krueger, economics professor at Princeton University. Sites like StubHub are, in effect, helping to determine the correct price for tickets; even Ticketmaster now uses an auction to price some premium seats. For music fans, that means the days of camping overnight for a front-row ticket are truly over. But they'll pay a little more for the privilege...
...Asylum and Chapel at Saint-Rémy had been confiscated by the Nazis from their ancestor, who fled Germany in 1939. Taylor insisted the work had passed through two Jewish art dealers without any sign of coercion before she paid $257,000 for it at a 1963 Sotheby's auction...