Yahoo Auction is closing
News.com reports that Yahoo! is retiring Yahoo! Auctions effective June 16th. Launched in September 1998, Yahoo! Auctions quickly expanded into other countries but soon stalled in the U.S. when it started charging fees (and eBay was gaining significant momentum). Even the “Look! No Fees!” hail mary did not halt its decline into no-auctions-land.
With demand and sales declining we ceased support for Yahoo! Auctions last summer. But until recently Yahoo! Auctions consistently maintained its number two spot behind eBay for product listings (particularly popular for collectibles).
The end of Yahoo auction has marked an important landmark in the marketplace industry because now the only 2 auction sites left of significance is eBay and Bidville. This is a dark day for eBay sellers (or other marketplace sellers) who look for other venues for multi-marketplace selling strategy. Does this mean eBay now have more monopoly power in the industry and can continue to increase its fee? Yes, it does. It is therefore more important than ever for you as ecommerce seller to have your website, promote it aggressively, and gain a repeat customer base. We’ll see how this pans out in the next several months.
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