eBay Moving Away From Auctions

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Jun. 18 2013, Updated 11:35 p.m. ET

eBay is tinkering with the very core of its business model. The company is planning to start focusing more on its fixed-price sales as opposed to its auction-oriented sales. The shift is expected to be announced sometime today, The New York Times says.

The change, of course, positions the site right in line with straight-forward Web retailers ranging from Amazon to Barnes and Noble or Borders. And it’s no surprise: eBay’s auction sales have been underperforming compared to the fixed-price alternative, The Times reports, meaning the auction boom of eBay’s early days may be reaching its end.

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The specific changes will include lower upfront fees to encourage sellers to put their stuff online for a fixed price. Such a sale will only cost $0.35 for a month-long listing as of next month — a huge drop, almost 70 percent, from the current fee.

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