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Technology Stocks : UBID Inc.
UBID 3.0000.0%Jan 21 4:00 PM EST
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To: jgideon who wrote (5)11/12/1998 4:15:00 PM
From: Kenneth Yeh  Read Replies (1) of 55
 
You're absolutely right jgideon...

UBID is more like ONSL and SurplusAuction than EBAY. However, there are still similarities between EBAY and UBID. They both auction items off the website. They key is that EBAY does not carry any inventory since they're the "broker" between the sellers and the bidders. Sellers pay a 10% commision to EBAY for a successful sale. Bidders pay nothing.

UBID's model (like that of ONSL and surplus auction) is superior to EBAY in the sense that the company will guarantee the actual sale of the product rather than an "intent" to sell by sellers on EBAY. The sellers and bidders can easily back out of their word (sure, they'll get negative ratings but some people who were the ones at fault give the other side negative ratings too!! Who's going to know which party is telling the truth??) In any case, consumers, I believe, will prefer UBID to EBAY once they realize that they can get the same deals, more stability and sense of security, and less waiting time (3-7 day auctions vs. 1 day auctions on UBID).

I don't argue with your assessment that UBID is more similar to Onsale and SurplusAuction but I still believe there are similarities between EBAY and UBID. Given the success of EBAY, I believe UBID should share that same success once people realize their business model.

-Kenneth
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