eBay is the most successful online auction website in the world, at which people from all around the world buy and sell goods and services. It is the fastest growing company in the world.

It is the world's largest person-to-person trading platform, and currently is head and shoulders above the competition.

Millions of collectibles, appliances, computers, furniture, equipment, vehicles, and other miscellaneous items are listed, bought, and sold daily.

It is billed as the "World's Biggest Garage Sale"

eBay reported consolidated Q3-04 net revenues of $805.9 million, up 52% year over year; operating income of $253.9 million, up 63% year over year; and pro forma operating income of $272.6 million, up 58% year over year. Operating income was 32% of net revenues and pro forma operating income was 34% of net revenues.

There is no doubt that eBay is the 500 lb gorilla in the online auction market.

How eBay works

• A seller lists an item on eBay - from antiques to cars, books to sporting goods. The seller chooses to accept only bids for the item (an online auction) or to offer the Buy It Now option, which allows buyers to purchase the item right away.
  
  
• In an online auction, the bidding opens at a price the seller specifies and remains on eBay for a certain number of days. Buyers then place bids on the item. When the listing ends, the buyer with the highest bid wins!
  
  
• In fixed price listings that offer Buy It Now, the first buyer willing to pay the seller's price gets the item.