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Technology Stocks : eBay - Superb Internet Business Model -- Ignore unavailable to you. Want to Upgrade?

To: VinWood who wrote (4367)	7/30/1999 11:56:00 AM
From: J. C. Dithers	Read Replies (1) \| Respond to of 7772

eBay has become a lightning rod for attacks from all directions ... From Greenspan to disgruntled longs, manipulative shorts, ticked customers, and people who enjoy the intellectual challenge of figuring out ways that a successful business could theoretically be scammed. However, I do admit that eBay needs to do something about this weak spot in the bidding procedures. I have learned some things I didn't know, as this discussion has gone on. I seem to remember that in the past when you placed a bid, you were warned that you could not retract it. But I don't see that on the bid screen any longer. I have never been to an auction where you could retract a bid (duh!), and I don't understand why eBay is apparently soft-hearted about this. On the other hand, the whole MSNBC scenario about bid manipulation involving two or more confederates, or multiple accounts/identities, seems way far-fetched to me. Is any single eBay auction that important to "crooks"? (A whole gang of them?) How many times could you pull this off without being caught and banned? Even if it is theoretically possible, I just don't see how this could ever become a significant, widespread problem. Sigh ... oh for the days when eBay was a fun place to hang out, and a great investment at the same time. Guess we're not likely to ever see those days again.