posted on February 27, 2003 04:01:48 PM new
At a time when business is still slipping, we are on the brink of war, and it is getting hard and harder to make ends meet. You can rely only good old eBay to give us 5 cents and take back $10.00, to add insult to injury.
As an active seller of investment quality and luxury items for the past six years, I find eBay's latest announcement to be a SEVERE BLOW to the future of quality items sold on eBAy.
Setting the cost of a reserve price at 1% is (max.$100.00)so out of touch with reality it boggles my mind. For example, if I list a item and want to protect myself with a $7500 reserve, ebay now wants $75.00 instead of the $3.00 I used to pay. The problem is that if it doesn't meet the reserve and I have to re-list the item, then I have to spend another $50.00 to $75.00 again and again and again. Multiply this times 20 to 50 auctions a week when only 20% sell and I can see that I won't be on eBay selling my wares much longer. I guess eBay has gotten so greedy that they are trying to gouge for more profits regardless of who they put out of business.
[ edited by artpickers on Feb 27, 2003 04:02 PM ]
posted on February 27, 2003 05:14:09 PM new
"...that they are trying to gouge for more profits..."
I don't know if they're gouging for more profits or passing <i>their</i> business losses onto it's sellers.
A recent article in Antique Trader (Feb. 26, 2003) stated eBay has sold off two of their "sub-companies" at losses.
Both were bought by eBay in 1999, Krause International for $165 million; Butterfield's (auction company) for $260 million.
Krause repurchased his comapny from eBay at a "rumored" (according to Old Cars Weekly magazine) sale price of just $12 - $13 million...and...
"In July 2002, Ebay sold Butterfield's to Bonham's for an unrevealed amount rumored to be far below the purchase price".
Looks like we sellers get to pick up their tab....gotta keep the stockholders happy.
posted on February 27, 2003 06:37:19 PM new
Just because I don't fit in your category, doesn't mean I don't understand what you are saying. How greedy can you can get? They are never satisfied with the the profit, they are making, they want more. I am really sick & tired of there anti seller philosphy. Who is it that makes them money? Its like the old nurserytale about the goose that lays the golden eggs, wheredo you get any more golden eggs?
posted on February 27, 2003 06:41:03 PM new
Just because I don't fit in your category, doesn't mean I don't understand what you are saying. How greedy can you can get? They are never satisfied with the the profit, they are making, they want more. I am really sick & tired of their anti seller philosphy. Who is it that makes them money? Its like the old nursery tale about the goose that lays the golden eggs, where do you get any more golden eggs if you kill the goose??"
2003-02-18 -
2003-02-19 WHITMAN, MARGARET C.
President *319,000 Sale at $75.846 - $76.632 per share.
(Proceeds of about $24,320,000)
2003-02-18 LEPORE, DAWN G.
Director 3,500 Option Exercise at $62.20 per share.
(Cost of $217,700)
2003-02-18 LEPORE, DAWN G.
Director 3,500 Sale at $75.81 - $75.82 per share.
(Proceeds of about $265,000)
2003-02-18 BANNICK, MATTHEW J.
Officer 10,000 Option Exercise at $58.531 per share.
(Cost of $585,310)
2003-02-18 BANNICK, MATTHEW J.
Officer 10,000 Sale at $75.852 per share.
(Proceeds of $758,520)
2003-02-18 COBB, WILLIAM C.
Senior Vice President 5,000 Option Exercise at $38.187 per share.
(Cost of $190,935)
2003-02-18 COBB, WILLIAM C.
Senior Vice President 5,000 Sale at $75.736 per share.
(Proceeds of $378,680)
2003-02-14 JORDAN, JEFFREY D.
Senior Vice President 7,000 Option Exercise at $58.05 per share.
(Cost of $406,350)
2003-02-14 JORDAN, JEFFREY D.
Senior Vice President 7,000 Sale at $74 per share.
(Proceeds of $518,000)
2003-02-14 WHITMAN, MARGARET C.
President *21,000 Sale at $74.646 per share.
(Proceeds of $1,567,566)
2003-02-13 COOK, SCOTT D.
Director 100,000 Option Exercise at $1.555 per share.
(Cost of $155,500)
2003-02-13 COOK, SCOTT D.
Director 100,000 Sale at $72.369 per share.
(Proceeds of $7,236,900)
2003-02-12 JORDAN, JEFFREY D. 11,332 Planned Sale
(Estimated proceeds of $836,623)
2003-02-12 BANNICK, MATTHEW J.
Officer 8,333 Option Exercise at $40.062 per share.
(Cost of $333,836)
2003-02-12 BANNICK, MATTHEW J.
Officer 8,333 Sale at $73.479 per share.
(Proceeds of $612,300)
2003-02-12 JORDAN, JEFFREY D.
Senior Vice President 11,332 Option Exercise at $40.062 per share.
(Cost of $453,982)
2003-02-12 JORDAN, JEFFREY D.
Senior Vice President 11,332 Sale at $73.828 per share.
(Proceeds of $836,618)
2003-02-12 DUTTA, RAJIV
Chief Financial Officer 30,000 Option Exercise at $2.333 - $40.062 per share.
2003-02-12 DUTTA, RAJIV
Chief Financial Officer 30,000 Sale at $73.42 per share.
(Proceeds of $2,202,600)
2003-02-11 LEPORE, DAWN G.
Director 5,000 Option Exercise at $62.20 per share.
(Cost of $311,000)
2003-02-11 LEPORE, DAWN G.
Director 5,000 Sale at $74.02 - $74.043 per share.
(Proceeds of about $370,000)
2003-02-10 BANNICK, MATTHEW J.
Officer 10,000 Option Exercise at $58.531 per share.
(Cost of $585,310)
2003-02-10 BANNICK, MATTHEW J.
Officer 10,000 Sale at $73.318 per share.
(Proceeds of $733,180)
2003-02-07 BANNICK, MATTHEW J.
Officer 883 Option Exercise at $52.468 per share.
(Cost of $46,329)
2003-02-07 BANNICK, MATTHEW J.
Officer 883 Sale at $72.08 per share.
(Proceeds of $63,646)
2003-02-07 JACOBSON, MICHAEL R.
Secretary 20,000 Option Exercise at $2.50 per share.
(Cost of $50,000)
2003-02-07 JACOBSON, MICHAEL R.
Secretary 20,000 Sale at $72.339 per share.
(Proceeds of $1,446,780)
2003-02-07 BANNICK, MATTHEW J.
Officer 833 Planned Sale
(Estimated proceeds of $60,042)
2003-02-05 LEPORE, DAWN
Director 6,000 Planned Sale
(Estimated proceeds of $445,440)
2003-02-05 LEPORE, DAWN G.
Director 6,000 Sale at $74.24 per share.
(Proceeds of $445,439)
posted on February 27, 2003 08:13:11 PM new
I was stunned and angry to see these new charges for reserve auctions. Are they trying to discourge reserve auctions? This is so much of a fee raise, it seems like more of a punishment to those of us that use a reserve than anything else.<br><br>
I think that we Powersellers should write Ebay and tell them what we think of this ridiculous increase. I personally have no intention of using a reserve auction after this fee increase takes effect.<br><br>
This doesn't effect people that sell $20 items. When one sells big ticket items such as paintings and antiques, I doubt that these sellers can take that kind of a hit. I think that Ebay will also have people starting their auctions at $1 and cancelling the bids and auctions if it does not reach a comfortable price for them. It is a struggle to get sales these days, either people will not use reserves or they will give up Ebay period. I wonder whose bright idea this was???!!!Obviously they find the final value fee more important than anything else.
posted on February 28, 2003 03:37:33 AM new
>>20 to 50 auctions a week when only 20% sell
It would seem that they are trying to get income by increasing the numbers on sold items; if they see a high percentage of items not hitting reserve (one poster here is claiming %80 unsold rate for their auctions), why not up the reserve fee? They are letting the market decide whether these reserves are realistic, and given these figures, they apparently are not (at least for the ebay customers).
Why not try selling these items through live auctions, setting high reserves, and don't pay a commission unless sold? The auction houses around here would show you the door pretty quickly.
posted on February 28, 2003 05:57:19 AM new
I agree with the posters above - the market is so weak right now that the reserve hit is unfair. I listed last week some of my "golden eggs" of quality items at low reasonable opening prices that have ALWAYS done well in the past and anything over $49.99 got no bids! As discussed on these boards in the past - you almost have to list a better quality item with a reserve and a pittance opening bid to get people to click on your auction.
I trade ebay stock & watch the price - It is one of the only internet stocks that has gained in 2003. But I don't get why - according to all us sales are way down from normal, ebay has been giving away the store, with free listings & promotions (something I never remember being done in prime sale months of Jan - Feb. in past years) Something is out of whack!
