Word: new
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Dates: during 1990-1999
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eBay--and the online-auction phenomenon it has spawned--is redrawing America's business landscape. There's scarcely a company in America that won't be affected by the new rules of commercial engagement. "Every week someone will come up to you and say this has changed my business entirely, and you can fill in the blank for what business," says eBay vice president of marketing and business development Steve Westly. "A guy came up to me at the National Auctioneers Association and said, 'I'm in the bull-semen business, and eBay's completely changed the access I have...
...everyone is going to win in the new eBay economy. Hardest hit so far are antiques and collectibles shows, which aggregate items like eBay does, but less efficiently. Joe Spotts, president of L&S Management, owns two shows--one in Denver, the other in Kansas City, Mo.--and he says the number of vendors at both has slid 30% in the past 18 months. And eBay is the reason. "It has the potential of absolutely destroying the business," says Spotts. "I've seen several shows around the country that are near shutting down." Flea markets could be the next...
eBay is sticking with its core mission of consumer-to-consumer auctions but is also working to expand its reach dramatically. In October, eBay announced a new venture: eBay Great Collections, a new area on the site for antiques and fine collectibles. Along with the acquisition of Butterfield & Butterfield, the world's fourth largest auction house, Great Collections marks a move by eBay into the high-end market. (The average sale on eBay is currently about $40.) eBay has also begun rolling out local eBays, starting with eBay Los Angeles. The idea is to provide a local market...
...even 5,600 miles from eBay's San Jose headquarters, he remains the quiet guiding spirit behind the company. Over a few coffees, he set out his personal philosophy--libertarian, communitarian and a bit New Agey. It's a world view that's evident in eBay's headquarters and throughout what Omidyar likes to call the "eBay experience...
...course, the word friend is used loosely these days, in an era when e-mail establishes instant intimacy between total strangers separated by thousands of miles. So it's no surprise that Wicker, 46, an assistant district attorney in Isle of Palms, S.C., hasn't met many of her new friends in the flesh. But they're on her mind when she cruises clothing stores and comes upon a tantalizing markdown in designer duds. She buys by the armful, goes home to her computer and within a couple of days has set up her own fashion show--on eBay...