We think eBay may have revised its processes enough to minimize its liability. However, at minimum, eBay would be liable for the original $25 million.
This site is much more on a collision path with other online retailers. I would also say that the traditional site has been very focused on the sellers, but now eBay is saying that it has enough supply and it's going after the demand side of the equation.
As long as eBay continues its current policy on non-disclosure of these metrics, we think investors will be very cautious as to their expectations of eBay's success in China, which would weigh on the stock,
Auctionshark.com has recently begun a trial of meta-auctions, ... Should these types of services gain momentum, they could increase the competition to eBay (or at least potentially increase marketing costs.)
After returning from our trip to China, we think that eBay will need to continue to invest in 2006, potentially pushing off any rebound in near-term margins,