Yahoo Auctions Closing their Services
With eBay controling more than 90% of online auction transactions it's nearly impossible to make much of a profit from an online auction website. Amazon, eBay's closest competitor is responsible for less than 1% of online auction transactions. The announcement didn't seem to hurt Yahoo's stock as it closed at $30.41, up $0.03 per share on Tuesday, May 9. If you have every tried to start an online auction site yourself you can understand why Yahoo may have decided to drop out of the competition. It's almost impossible to compete with eBay for any share of profit. Before you decide to start your own online auction you should carefully consider all the pros and cons of owning your own website. I have an article entitled "Starting your own online auction website" which will be very helpful if you are having thoughts of starting your own online auction website.
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