EBay

A federal judge has ordered dotcom giant eBay Inc. to pay $29m (£18.3m) to a Virginia inventor who accused the company of stealing his ideas for holding and searching online auctions. Ruling in Virginia on August 6, US District Court Judge Jerome Friedman said there was “no dispute” that the online auction site eBay had infringed patents which covered ways for people to make online bids backed by credit cards and purchase items over the Internet for a fixed price.

Ebay, flourishing survivors of the e-commerce boom and bust, have again out-performed forecasts, showing continued strong growth in the second quarter of 2003. The California-based company, who now include the electronic-payments business PayPal in their revenues, showed profits of $109.7m on a turnover of $509.3m.

UK site to answer readers’ queries: Dot-com giant eBay have agreed to meet with the Antiques Trade Gazette to answer readers’ questions about buying and selling art, antiques and collectables on the website.

In addition to the implementation of VAT on seller fees reported in last week’s issue, eBay will introduce a number of substantial price increases from July 1. Most likely to upset eBay users is the imposition of a 1% charge on items carrying reserves in excess of £100. Previously that fee was just a flat rate of £1.20.

New European Union regulations regarding the collection of VAT on digital services mean that eBay will begin collecting VAT on seller fees from July 1.

Canadian-based eBay seller gstark didn’t need to include the words “extremely rare” in his auction listing for a jade green Sony TR-55 transistor radio. Fifteen ardent bidders already knew that.

Forecasts revised upwards for the rest of the year: eBay’s net profits for the first quarter of 2003 more than doubled last year’s figure, breaking the $100m barrier for the first time. With a turnover of $476.5m for the period, the firm generated $104.2m profit, compared with a turnover of $245.1m and profits of just under $50m for the first quarter of 2002.

WHILE the bubble may be bursting in some fields of collecting, Beatlemania looks like remaining a safe bet for a long time to come. The latest eye-popping bid for a piece of the Fab Four came on eBay when this 1968 Yellow Submarine bubble gum store display box, right, complete with 40 original, mint condition Beatles gum packs made £15,100.

The patent dispute pitching a Virginia inventor against eBay appears to be heading to trial. US District Court Judge Jerome Friedman issued a series of rulings in late October that, while firming up aspects of eBay’s defence, rejected the company’s attempts to have the claims – made by MercExchange, a Virginia technology company – thrown out.

Listings on eBay can sometimes be prone to hyperbole but when a seller from Ontario, Canada described this remarkable object as “definitely one of the finest sticking tommy candlesticks ever made” few enthusiasts of antique mining collectables could have argued.

WITH the backing of 65 per cent of a PayPal shareholders vote, eBay have completed their acquisition of the leading online payments company. Despite the overwhelming approval of the merger, some shareholders did object to it, suing eBay and PayPal in an attempt to block the acquisition.

PAYPAL, the leading online payment service, are facing a new challenge that could scupper eBay’s attempt to take them over.

eBay have reported a record $266.3m turnover for the second quarter of the year ending June 30, a 47 per cent increase on the same period last year. Of this, $235.3m came from online transactions.

USA: Next week in an extraordinary single-lot auction – and the first joint sale between Sotheby’s.com and eBay, this 1933 Double Eagle $20 gold coin is to be offered for sale by Sotheby’s and New York coin auctioneer Stack’s on behalf of the US government.

EBAY have struck a $1.5bn deal that will give them control of PayPal, the leading online payment service, by the end of the year.

eBay sellers dealing in collectables are getting lower prices and having fewer successful auctions than a year ago, according to a study by AuctionBytes.com. The results were similar to those found in a separate analysis by TIAS.com.

Yahoo will close five of its auction sites in Europe and instead promote eBay’s competing auctions as part of an agreement the companies announced on last week.

In the second major Internet shill bidding case, three people have been charged with running a scheme that boosted the sale prices of hundreds of pieces of Lalique glass auctioned on eBay.

THE influence of eBay in the online antiques trade has increased further with the announcement of an online deal with sothebys.com.

USA: Butterfields Auctioneers are cutting their Los Angeles staff by more than half as part of a major restructuring programme that will lead to a greater focus on San Francisco.