Founded by Pierre Omidyar in 1995 Transaction fees for listing (regardless of whether item sellsor not) and additional fees for Premium Auction features(i.e.extra photos, BuyItNow, Feature It!, etc) or Premium Sellermemberships
Auction-based onlinesales of products
(andsometimesservices) where users try to outbid one another by placing ahigher maximum amount; Dutch and Reverse-auction stylealso recently available in some regions