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To: Doug Fowler who wrote (3894)	6/28/1999 3:48:00 PM
From: mrknowitall	Read Replies (2) \| Respond to of 7772

Doug - I'm not sure the number of auctions completed in a day is particularly meaningful. Interesting, perhaps, but all it really tells you is that "x" number of auctions were placed on the system either 3, 5, 7, or 10 days ago. Now, were we to compare that number with the "active" auction count, we would be able to determine the number of "new" auctions, or the net increase (or decrease). What we're missing, IMO, is something akin to the semiconductor industry's "book-to-bill" ratio - in other words, of the auctions that closed, how many had winning bids and what were the $ amounts from which ebay would receive commissions. If Meg's view of the world persists, eventually the dollar value per auction will increase, making the absolute auction numbers less and less reliable as a revenue and profit predictor. Just my thoughts . . . Mr. K.