New York, NY (PRWEB) April 5, 2006
The days of eBay's dominance in the on-line auction arena are far from over, but a light at the end of the tunnel may have come into view. The jewelry category specifically seems to be an area of vulnerability for the on-line giant. Bidz.com, eBay's number one competitor for the jewelry auction market has recently filed for its initial public offering, and seems to be poised to encroach even more aggressively on eBay's turf.
Even more to eBay's dismay, there seems to be another strong player emerging in the category. AuctionRiot.com is a joint effort by many of eBay's top sellers to create a marketplace of their own free from the rampant fraud that has thus far plagued the industry. AuctionRiot also has the goal of maintaining a dynamic marketplace. Much like the strategy of Bidz.com, AuctionRiot is focusing heavily on the $1 No Reserve format.
The on-line public can look forward to a lot more from these two young and growing marketplaces. As all on-line consumers know the stronger the competition the better the deals.