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eBay will be shutting down its live auction service by the end of 2008. The move is part of eBay’s latest move to try and recreate its own business model. For those who are not familiar with eBay Live Auctions, the service is similar to your traditional auctions but the Live Auctions last until there are no longer any people bidding for the item. Unlike eBay’s regular online auction which has a set time frame before the auction expires. Winning bidders also paid a premium of 12.5 or 15-percent based on the final bid. The decision to shut down Live Auctions was announced amidst the cry of several hundreds of eBay sellers who participate in the Live Auctions. Well, at least they can always go back to putting their items up for bid at eBay’s regular online auction service.
Via [The Register]
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