Amazon auctions is their biggest competitor if I'm not mistaken, so ebay is a near monopoly; Not just on the auctions side, but paypal as well. Widely hated near-monopolies are never invincible though- Just ask America Online, CNN, and many other fantastic examples I'd be listing right now if my mind wasn't drawing a complete blank... Last thought: This new feedback bullshit looks to me like ebay's 'New Coke'... a product that didn't end up completely <i>killing</i> its parent company, but rather just deeply wounding it for a while.
Maybe you heard the kerfuffle over the ebay australia rules, they tried to introduce compulsory payment by paypal, to "protect" buyers. Last i heard, the competition and consumer commision was hauling it over the coals-small market yes, but precisely where you would want to "test" such a policy. Has not gone down well. I know squat about the new feedback thing, it almost seems they are clutching at straws with "ambit" claims to drive the price lower.
Relevant links: http://money.cnn.com/2008/02/06/smbusiness/ebay_alternatives.fsb/index.htm http://www.buysellauctiononline.com/index.php
The old feedback system created an environment of unfair ratings which inevitably affect the reputations of ALL those involved. How? Many sellers discourage a fair rating from buyers of their service and support for items they sell by demanding that the buyer leave feedback FIRST before they leave feedback. They want the person who completed their part of the contract FIRST to rate the delivery/quality of the delivered items before the seller rates the buyer for whether or not they pay. Nowhere else on the net does this type of system exist (that I am aware of) where the buyer is rated good or bad. Go to Amazon. Look at ratings. It is for the sellers. Go to CNET. Vendors are rated. It is this fear that a buyer's "reputation" might be damaged out of a retaliatory seller for negative feedback on items delivered or not that prevent most buyers from leaving an honest rating. I have made maybe 500 purchases on eBay for various computer equipment and other items over the last 2 years but my personal feedback is at 40 comments (all positive 100%) because I REFUSE to leave you a feedback on your service BEFORE you do so for me when I have paid you FIRST. This new feedback system I believe will create a more accurate picture of the vendor with which a buyer is dealing. I, for one, welcome the change.
I'm with you on the leaving of feedback as a buyer; I don't do it anymore unless the seller gives me immediate feedback; after all, I've done all I could as a buyer, which is to pay you immediately. It didn't used to be that way on ebay years ago; sellers gave a buyer feedback right away, without 'requiring' the buyer to leave them feedback first - things morphed into that. The feedback system there has been a problem for quite a while and the changes took effect a while back also - it can't be any worse. I understand the competitive pressures ebay will face but I sure wouldn't short them based on this.