Sunday, 15 December, 2002, 11:58 GMT Sunday, 15 December, 2002, 11:58 GMT IslIsland sale ruffles feathersand sale ruffles feathers

The island has been split into 25,000 tiny ploThe island has been split into 25,000 tiny plo

tsts

The piecemeal sale of a Scottish island by The piecemeal sale of a Scottish island by an English businessman is to be raised in an English businessman is to be raised in

the Scottish Parliamentthe Scottish Parliament..

A corn siloA corn silo

silossilos

A missile siloA missile silo

Missile silo housing in Missile silo housing in Kimball, NebraskaKimball, Nebraska

Auctions, consumers and the lawAuctions, consumers and the law

Auctioneer’s hammerAuctioneer’s hammer

Bidding and outbiddingBidding and outbidding

When it first startedWhen it first started

Pez dispensersPez dispensers

A candy dispenserA candy dispenser

marketsmarkets

Places Places where where

buyers and sellers buyers and sellers of goods and services of goods and services

come together to make dealscome together to make deals

Massive impact of the Massive impact of the internetinternet

Most businesses now have a Most businesses now have a website, where website, where

potential purchasers potential purchasers can find out can find out what the company offers.what the company offers.

An e-commerce capabilityAn e-commerce capability

Customers can make Customers can make purchases and bookings purchases and bookings

onlineonline

If e-commerce is to continue If e-commerce is to continue its upward trend,its upward trend,

security urgently needs security urgently needs to be improvedto be improved..

On the increaseOn the increase

Online travel bookingOnline travel booking

Online entertainmentOnline entertainment

Internet-based auctionsInternet-based auctions

eBay eBay

one of the world’s one of the world’s

fastest growing businessesfastest growing businesses

A huge successA huge success

eBayeBay

Anything can be traded on Anything can be traded on eBayeBayWorks simplyWorks simply

At eBay At eBay

buyers matched with sellers (who buyers matched with sellers (who do the packaging and posting)do the packaging and posting)Buyer wanting a particular item Buyer wanting a particular item enters the maximum amount he’s enters the maximum amount he’s prepared to payprepared to payOffers accepted until end of Offers accepted until end of auction (typically 7 days later)auction (typically 7 days later)

Once the bid is won,Once the bid is won,The two parties contact each otherThe two parties contact each other

The buyer paysThe buyer pays

The seller ships the goodsThe seller ships the goods

Terms are listed with the auctionTerms are listed with the auction

eBay now has sites in 28 countries, eBay now has sites in 28 countries, tailoring the service to local needs.tailoring the service to local needs.

Transactions Transactions between businessesbetween businesses

= B2B= B2B