Buy.com hopes Garage Sale lures eBayers
by RobotGod.
Buy.com is looking to steal some customers from eBay with a new shopping service aimed at online hangouts like Facebook. It's intended to let users post and sell items on their profile pages.
reports that unlike ebay(feebay) buy.com will charge people a flat 5% fee for sales. They process the the transactions, so you have to use credit cards. Sellers get their money from pay-pal unless you want them to send a check.
"In essence, we're empowering the social networking sites in some fashion to compete with eBay, but we're processing the transactions behind that," Buy.com Chief Executive Neel Grover said.
They cant do the highest bidder thing, but they are looking into allowing users to haggle with sellers and read buyers' comments within the profile. Right now, any bartering would have to be through e-mail.
They envision it benefiting the sites as it leads to people spending more time on the page.
I think this is a fabulous idea. Another player taking some money away from the greedy non-caring ebay corporation. I think I may have to try it out.
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