Tuesday, September 13, 2005

eBay Market

eBay Market

TIA Daily reader Charles Troje writes:

"I can't remember, has anyone suggested e-bay yet? It's a fairly awesome thing to have made available to the entire world an almost instantaneous, self-contained free-market. No taxation, very little government regulation, if any. Just sellers and buyers, selling and buying via the internet and 'regulating' one another by means of publicly posted 'buyer feedback' ratings. The somewhat shallow article linked (and copied) below discusses how e-bay reflects, almost instantly, the trends of the marketplace and certain aspects of culture (some good, some not). The article is mostly about unimportant superficial items but, implicitly, it reflects what an amazing capitalistic accomplishment e-bay has become."

For more about ebay read the article below:

"Why use eBay? The Web site has become a mirror of our times. More than 125 million people use it; $1,060 worth of products flow through it every second.

"It's a societal seismometer. When events happen, they show up instantly on eBay. When Ronald Reagan (news - web sites) died, 6,000 Reagan-related listings popped up on eBay within 48 hours. The Boston Red Sox won the World Series (news - web sites) in October, and listings of Red Sox paraphernalia tripled.

"No executive decides what eBay sells. Millions of people post items in response to the shifting marketplace. It's organic. That's what makes it unlike any repository of commerce and culture in history."

-- selection and editing by Shrikant Rangnekar

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