London-based eBid Ltd.’s eBid.net launched its U.S. version this week and expects to quickly build a major presence in the online auction market, CEO Gary Sewell says. “Within six months, we hope to surpass Overstock Auctions,” he tells InternetRetailer.com.
EBid started in the UK in 1999, when Sewell and his partners decided to replicate what eBay had started in the U.S. But when Yahoo closed its UK auction business in 2002, eBid changed its operating model to eliminate listing fees – copying what had been Yahoo’s model. Yahoo sellers were used to not paying fees, so we dropped our listing fees and ex-Yahoo users came to our site,” Sewell says.

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Posted: 11|5|05 at 10:13 am. Filed under: Auction News.