Tuesday, March 25, 2008
Ebay Still Fighting Hard in the Wrong Direction
Several months ago, I wrote a Blog about what I thought eBay was going to do. First I said they might do away with the listing fees all together, but instead, they raised them in a very deceptive manner after their leader left. I think now they are beginning to see that their listers have seen through their crafty manuever.
EBay is a wonderful company that is going in the wrong direction. It is a mature company that needs to think about giving back to their stockholder, for their patience, as the stock continued to grow. But it is no longer a growth stock whose earnings are going to quadruple every year. At this time, they need to service the customers they have accumulated since their inception and give them reason not to jump ship.
EBay sent out e-mails this week promoting one cent listing fees, but they come with several conditions, and none of them are in the best interest of the customer. Why not do the right thing and just eliminate the listing fees altogether instead of squeezing every last dime out of their customers they possible can?
EBay stock has been a cash cow for its investors over many years, but over the last six months, they’ve seen the stock drop by 25%. In fact, the last several years haven't been that great for eBay stock holders. Its price has declined 50% since January, 2005. Do I still admire what they have accomplished? Yes. I just wish that they would realize who and what they are, and be responsible to the many people that depend upon their service and who have helped make them successful by their support.
EBay might think they are not replaceable, but they are. And, as I predicted months ago, their competition is coming at them from every direction. One of my favorites is Online Auction, http://www.ola.com/. If you are doing consistent business, you might want to look at their program. Another is Blackwells Live Auctions, however I’m not sure they have worked out the bugs in their program yet. Another interesting auction site for antiques and art is igavel.com. I encourage you to take a look at these other companies.
Please don’t get me wrong about eBay. The purpose of writing this Blog isn't to knock eBay but to hopefully show them that we are all very concerned. I encourage the 31 Club members to take advantage of all the specials eBay offers, if they are to their advantage. But, if after using these specials, eBay’s regular program doesn’t present the best deal, be sure to be flexible and check your options.
Ebay has the most capable people outside of eBay who have been supporting them for years, like Skip McGrath, Terry Gibbs and Gary Henderson just to mention a few. By helping other people to learn their way around the eBay system quickly and getting thousands of individuals and merchants up and running efficiently, they have helped support eBay's growth. But what support so they receive from eBay?
If we all worked together for the good of the customer, there will be room for all. But if we get greedy, the market will most assuredly replace us.
So, while eBay is still putting up a fight, I don’t think they are quite ready to surrender. But I don’t think the last chapter is in yet. And I have hope for this fine company.
Don’t just follow the daily Blog. Join with like-minded 31 Club Members. Turbo charge your treasure hunting today and start building a bank account big enough to last a lifetime. My 220 page book, 31 Steps to Your Millions in Antiques & Collectibles is FREE with your membership. The book is also available on Amazon.com. If you buy the book on Amazon, then the membership is FREE.
See the fine paintings we have listed in our gallery from artists like Robert Woods, William A. Slaughter, William Horton, Tom Darro, and more. Our Hannah Barlow decorated Doulton Lambeth Vase is superb. Take a look here.
Read Up On The 31 Club Here.
Visit our website here.
Please leave a comment. If you don't want to sign in, just use the ANONYMOUS button. Chime in and participate! -- Daryle Lambert