The iron is hot for the striking, in fact it's blazing red hot. Right or wrong, there's another "shake down" happening at eBay (NASDAQ: EBAY). I'll spare you the details.
I'll get right to the point here because I know you have other reading to do. It's time for someone, anyone, to readjust the online auction game. However, I think it's about time to give up expecting that savior to be Google (NASDAQ: GOOG).
Someone with a couple million dollars needs to find and use the synergies among the growing multitude of independent online auction sites. I'm not talking about someone trying to buy them all in an attempt to sew them together. What is needed to completely change the playing field is for one single entity to create a one stop pipeline where all the little auction sites can be found.
All that would be needed is a good healthy rack of first rate server space, a top notch administrative team and a small but talented sales force that can sell the benefits of a unified effort. All the small sites would remain fully independent, they'd just have a closer relationship with their retail neighbors. They would each retain their individual ownership and their administrative teams. And they would retain their chosen payment systems, either Google Checkout, PayPal or their own merchant accounts.
The new entity would be like the common area in the interior of a shopping mall. It would be a routing facility with click through openings directly to dozens and possibly hundreds of smaller independent sub malls. Eventually, it would become a simple task to solicit click through deals with larger retailers also.
By my rough figuring, coordinating the top twelve independent auction type sites would assemble an active user base of about two million people. I'll withhold listing names here because I'd obviously miss someone important. Suffice it to say that the harvest is ready, the tree is being shaken and some of the finest fruit has already become ripe for the picking. The right person with the right plan could really pull off a major, effective and extremely profitable business. Perhaps someone should give Mark Cuban a call.
Closing Bell: When We All Love the PIIGS (NBG, SQNM, PG, ERTS, KO)
Serious Money: Cheapest Stocks List Shrinks from 26 to 21
Chasing Value: Hasbro Earnings Makes My Point
Reader Comments (Page 1 of 1)
9-19-2007 @ 6:51PM
Antiques Dealer said...
...Or find a way of linking independent websites.
http://www.news-antique.com/?id=782640&keys=Ebay-Auction-Antiques
7-03-2007 @ 11:22AM
firemeg said...
It's a bit odd that you bring this topic up. I was just discussing this very topic last night. There are many that want a savior to be a new auction site, but it will never happen. The whole online-auction idea was a fad and is flawed (in my opinion by the use of these sites to sell new items that have set wholesale and retail prices). As a method of selling antiques, collectibles and certain types of artwork, online auctions still work. Selling iphones, PS3's, elmos etc., is just stupid after the first week or so. It's cheaper and just as effective to sell your PS3 on craigslist or advertise it in the local classifieds.
Anyway, I feel that something like you suggest will end up knocking eBay down a bit while becoming very successful in its own right....if done properly. A portal where a feeds from all auction sites as well as retail sites end in items showing on one site and that can be sorted by fixed price, auction, reverse auction, best offer etc. would be a great site for buyers. Such a site should also spider shopping sites that are not submitted.
PSU already has the Mother of All Auction Searches, but it only includes a few sites. Google products does a good job of gathering fixed price items - but some don't like the format and the items have to be submitted.
What investors and eBay huggers fail to see is that this type of site WILL be built....it's just a matter of when. When it is built, and built correctly, it will level the playing field a bit. A site such as this that becomes popular will mean that shoppers no longer just check eBay because of the time factor, or the greatest inventory factor. This type of site would allow buyers to have the massive results of shopping through a straight Google search, without having to weed out all of the other results that have nothing to do with products for sale.
7-03-2007 @ 11:26AM
Mick said...
Interesting article. I couldn't agree with you more. It is a matter of when such a site will be built. As a dealer (glass) I would welcome it with open arms.
www.billandrubyslookingglass
7-04-2007 @ 3:55AM
auction seller said...
That is an excellent idea! A search portal that pulls the auction or item for sale from all the accepted small time seller sites except for ebay of course. This would be a nightmare for Ebay if it became popular.
7-04-2007 @ 8:48PM
Thomas Jowers said...
awesome idea, i own an online auction site (mega-bids.com) i would pay a monthly fee to have my site included, i also own a search engine (seekerbug.com) i might be able to do it myself.....hmmmm. great idea!
7-17-2007 @ 5:46PM
Melody Fargo said...
Gary
What a fantastic idea!
I hope someone does put this in motion. Its time for someone to level the field that ebay has riddled with ebumps and ebugs. The users are ready for something (ANYTHING).