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eBay Auctions: Going, Going ... Gone?

Site making changes as one-click buying gains market share

By Kevin Spak,  Newser Staff

Posted Jun 4, 2008 12:49 PM CDT

(Newser) – EBay is the Internet’s top auction site—which would be great if consumers still liked auctions. Long gone are days when consumers happily stalked their prey, which went to the top dog in frenzied bidding. These days, most prefer quick, one-click, fixed-price shopping—and eBay is scrambling to accommodate them, BusinessWeek reports. Old-school auction sellers, meanwhile, are furious.

“The bloom is well off the rose with regard to the online-auction thing,” one analyst said. Though the site says it will always host auctions, CEO John Donahoe has aggressively emphasized “Buy It Now” selling. His most controversial move has been a hike in fees for traditional auctioneers, which one says will “have the result of ending auctions as we know it on eBay.”

A corn flake is seen next to a dime. Two sisters from Virginia sold their Illinois-shaped corn flake on eBay, March 21, 2008 for $1,350. But such blockbuster auctions are a dying breed.
A corn flake is seen next to a dime. Two sisters from Virginia sold their Illinois-shaped corn flake on eBay, March 21, 2008 for $1,350. But such blockbuster auctions are a dying breed.   (AP Photo/Donald McIntire, HO)
eBay's Buy It Now feature accounts for 42% of goods sold on the site, BusinessWeek reports, and growing at an annual 22% pace.
eBay's "Buy It Now" feature accounts for 42% of goods sold on the site, BusinessWeek reports, and growing at an annual 22% pace.   (AP Photo/Paul Sakuma, file)
John Donahoe took over as eBay Chief Executive in March, at a time when the site's focus is shifting away from auctions and more toward fixed-price sales.
John Donahoe took over as eBay Chief Executive in March, at a time when the site's focus is shifting away from auctions and more toward fixed-price sales.   (AP Photo/eBay, ho)
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