EBay Inc. is an American Internet company that manages eBay.com, an online auction and shopping website in which people and businesses buy and sell a broad variety of goods and services worldwide. Auction-style listings allow the seller to offer one or more items for sale for a specified number of days. The seller can establish a reserve price.
A majority of the sales take place through a set-time auction format, but subsequent methods include a substantial segment of listings in the Buy It Now category. Some items are rare and valuable, while many others are dusty gizmos that would have been discarded if not for the thousands of eager bidders worldwide.
Anything may be offered for sale as long as it is not illegal and does not violate the eBay Prohibited and Restricted Items policy. Controversy has arisen over certain items put up for bid. EBay allows sellers to use a variety of rich media solutions within listings in order to aid and improve the format and presentation of the listing.
EBay generates revenue from a number of fees. The eBay fee system is quite complex; there are fees to list a product and fees when the product sells, all based on various factors and scales. The current winning bid is not sealed, but instead is always displayed. However this amount may be higher than the amount required to win the auction.