Monday, September 15, 2008
The Beginning of the End for Ebay
Ebay used to be a fun place for sellers to list those items you didn't need anymore. In the process you (and eBay) made a few buck. But with their Draconian "Paypal only" policy complete with a mandatory 21 day hold on your funds while you ship items to a seller who can still leave YOU negative feedback (while You can not leave neg feedback for deadbeat sellers). With the new management at greed-bay who seem to desire nothing less than to poorly emulate Amazon.com they have decided to literally screw the sellers who made eBay what they are today. As of October the new policies go into effect become eBay "law" by Jan 1, 2009. Interestingly, eBay's stock is diving faster than the general downturn in the Dow Jones experienced today (which was a mere 504 point drop in one day, ouch!!!). Perhaps eBay will have to listen to the market and realise that they have performed the ultimate blunder in a sagging market by squeezing out their "bread and butter"- the sellers.
at 9:14 PM