Press release
Yahoo Auction Closure: the Rise of Reverse Auctions?
online auctions / reverse auctions
Yahoo! Auction site's homepage states "After careful consideration, we have decided to close down our Yahoo! US and Canada Auction sites to better serve our valued customers through other Yahoo! properties."
What happened to this giant marketplace of Yahoo? According to statistic, Yahoo! Auctions were receiving less than 1% traffic compared to eBay auction site. Some said that Yahoo! closed its auction site shortly after becoming the exclusive PPC ad’s provider for eBay.
However, Sylvain Reiter, VP of Oltiby.com, takes another direction to explain the closure: “eBay has grown tremendously and taken over most of the online auction business in the western countries. I think that Yahoo! realized there were not much room to compete with eBay and didn’t see any future growth in this market. The business model of eBay-like online auctions is reaching its limits and people start to understand the benefits of reverse auctions”.
Reverse auctions are not competing with online auctions but are following the opposite model: one buyer posts an order for an item he wants to buy. Sellers are becoming the bidders and reduce their bids to win the sale. Thanks to the competition between sellers, the buyer ends up saving money.
Oltiby.com provides a reverse online auction service for all categories of products, as wide as Yahoo! or eBay auctions. Launched in 2005, it is now offering all the services of regular auctions, plus the benefits of being in control and saving money to the buyer on a “no savings – no fee” basis.
Sellers receive free leads and bid the price they are ready to sell item for. Oltiby.com is currently available worldwide with a unique US based marketplace and is currently expanding its activity to dedicate a platform for the European users.
We can assume that Yahoo! is giving up on the US market now trying to focus on the Asian market. After paying $1 billion last year to acquire 40% of Alibaba, Yahoo! wants to become the “eBay of Asia”. But the economy is growing globally, more and more sellers are competing to sell similar items and reverse auctions are the only viable model for the future of trading business.
Discover more about Yahoo! Auctions retirement on http://auctions.yahoo.com/
Learn more about reverse online auction on http://www.oltiby.com/
Oltiby.com provides an innovative online marketplace for buyers and sellers to conduct trade. Buyers post what they want to buy; sellers compete, posting their bids and reducing their prices to win the auction. The new Verified Member program enhances trust on Oltiby.com as both buyers and sellers are confident about making business with a verified member.
Sylvain Reiter
711 Commerce Way E, Unit 8
Jupiter FL, 33458
+1-954-941-4550
press@oltiby.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Yahoo Auction Closure: the Rise of Reverse Auctions? here
News-ID: 22393 • Views: …
More Releases from Oltiby.com
Charity Reverse Online Auctions Platform Launched At Oltiby.com
JUPITER, FL, 5th September 2007 – Oltiby.com has revealed today its new service called “Charity Buy Blog” which opens up new opportunities for charities and nonprofit organizations to benefit from the growing online auction market.
Charity Buy Blog is a new, innovative way the nonprofit groups can utilize and organize online auctions and donation events. On the opposite of regular forward auctions like eBay Giving Works, charities don’t have to…
Oltiby.com Announces Technical Partnership With TeleSign For its Online Auctions …
Jupiter, FL - - April 2nd, 2007— Oltiby Inc. (oltiby.com) recently announced a technical partnership, whereby TeleSign Corp. (telesign.com) will provide Oltiby with an advanced security feature for the verification of its online auction members.
"Our reverse auctions marketplace needs to gain trust from the online community. We are a growing business and our members’ security is our first priority" said Sylvain Reiter, VP at Oltiby Inc. "Introducing an…
More Releases for Yahoo!
2019 Future Trends in Artificial Intelligence In E-Commerce And Retail Market: T …
Global Artificial Intelligence In E-Commerce And Retail Market Research Report 2019-2025
The Artificial Intelligence in E-Commerce and Retail Market Research Report is a valuable source of insightful data for business strategists. It provides the Alumni Management System overview with growth analysis and historical & futuristic cost, revenue, demand and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Alumni Management…
Global Website Builders Market 2018 - Wix, Web, Yahoo, Godaddy
Apex Market Reports, recently published a detailed market research study focused on the "Website Builders Market" across the global, regional and country level. The report provides 360° analysis of "Website Builders Market" from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the global Website Builders industry, and estimates the future trend of Website Builders market…
Bigmouthmedia seeks clarification of Google/Yahoo advertising pact
Announced in the US, the deal between the world\'s two biggest search engines will see Google Ads begin appearing on Yahoo\'s search engine results and other pages from September 2008. The move - which analysts say could boost Yahoo\'s revenues by up to $800 million - has been delayed for three months to enable a period of voluntary regulatory review, but both parties insist the deal breaches no monopoly rules…
Apurimac Media and Yahoo! Inc. Partnership
Apurimac Media and Yahoo! Inc. partner to bring compelling online marketing solutions to South Africa.
CAPE TOWN, SOUTH AFRICA, 1st April 2008 -- Apurimac Media, a leading South African-based digital ad sales and marketing company, today announced a new strategic partnership with Yahoo! Inc. that will enable local advertisers to reach millions of Yahoo! users in South Africa.
Through the partnership, Apurimac will act…
B2K RAPPER LIL FIZZ FEATURED ON YAHOO! MUSIC
Los Angeles- Hip-Hop and R&B superstar Lil Fizz of the multi-platinum group B2K is the latest artist featured on Yahoo! Music, the popular site’s vast entertainment network. His song L.O.V.E. U is currently available through www.music.yahoo.com for digital download. L.O.V.E. U is a smooth R&B driven track dedicated to all the ladies who love Lil Fizz. This exclusive preview with Yahoo! Music sets the pace for the release of…
Yahoo previews new search advertising platform
The world's second largest search engine is to renew its new search engine advertising platform.
Dubbed "Project Panama," the new system is planned for launch in the last three months of 2006, according to ClickZ News. John Kim, product marketing vice president at Yahoo!, promised delegates at the Search Engine Strategies conference that the new interface will be more intuitive for advertisers.
"What's changing is that this new platform will be much…
