I feel that whoever decides to launch an auction site should try to incorporate the best of ebay, and to minimize or downplay its worst aspects. Try to offer as much incentive as you can to sellers willing to go with the auction format, and assess a fee/penalty on those who just want to park overpriced inventory in the listings and leave it there indefinitely. There's no free parking!
And I think that while the chance that such a site will succeed may not be great, the timing is right and there is currently a need for it.
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