Sunday, February 24, 2008

The Vinyl Record Millionaire

A man became a millionaire, due to his extensive vinyl record collection and eBay (EBAY), which trades on NASDAQ. He put up his record collection of over a million albums and over a million singles for auction, which resulting in a high bid of over $3,000,000. This was practically an all time record for eBay.

1 comment:

whoiskiddingwho said...

Yes, the BID was over $3M. That is only half the story! Admittedly the part that eBay would like everyone to know, hence their immediate "spin". However, eBay managed to show us yet again they are unable to intervene in bad/fraudulent buyers being able to bid and the whole sale fell through. This is yet another example of why the future one sided feedback system of eBay has so many buyers/sellers actually working in unison to try to encourage eBay to see the errors of their many dubious changes, leading to the recent eBay boycott (in which many are still participating), and the one slated to start May 1st which will be organized FAR better (due to having more time to have everything in place) and will also be open ended. This is the beginning of the end of eBay as most know it, the future will see thousands of cheap imports (which are frequently more expensive when you take into account shipping charges than buying at a local retail store) by multi-level powersellers, and the likes of GM, Sears, maybe Wal-Mart etc all using it purely as an advertizing medium. "IT" (remember the ad campaign?) will no longer be available on eBay, so buyers will start looking elsewhere, and any successful competitor will see business increased dramatically as eBay declines.