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Businesses The Almighty Buck

Ebay 'Millionaire' Sellers in Germany and UK Grow 50 Percent in Four Years (reuters.com) 32

"Millionaire" online businesses selling on ecommerce site Ebay have jumped 50 percent in key international markets Britain and Germany in the last four years, despite currency swings that have slowed growth outside the United States. From a report: Fresh data published on Tuesday by Ebay shows the number of million euro businesses selling on Ebay grew to 1,095 from 731 in Germany last year since 2013 while million pound-plus businesses rose to 663 from 443 in Britain over the same time period. Ebay's two big European markets were collectively responsible for 30 percent of Ebay's total net revenue of nearly $9 billion last year, although reported revenue in both markets dipped amid currency declines against the U.S. dollar. Two examples in the north of England are MusicMagpie.co.uk, which buys used CDs, DVDs and electronics from consumers for resale on Ebay in more than 140 countries, and cycling accessory seller MaxGear, now a 3.5 million pound ($4.51 million) a year business. While the company founded 22 years ago started out as an online auction site for consumers to trade second-hand goods, 80 percent of merchandise now sold via Ebay is new, largely fixed-price items, the company reported in the first quarter of 2017.
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Ebay 'Millionaire' Sellers in Germany and UK Grow 50 Percent in Four Years

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  • Meh (Score:2, Informative)

    by Anonymous Coward

    EBay is somewhere between Amazon and Alibaba for cheap knock off junk.

    • by zlives ( 2009072 )

      and apparently there is a giant market for it so... i guess free market at work an all

  • by Anonymous Coward

    A business that sells a million dollars worth of merchandise is not a "millionaire" business. A "millionaire" is someone with a net worth of greater than a million $currency.

    • A business that sells a million dollars worth of merchandise is not a "millionaire" business. A "millionaire" is someone with a net worth of greater than a million $currency.

      A million in earnings takes a lot more than a million in sales. How much depends on product and margin. Most big Ebay sellers have tight margins.

  • by Anonymous Coward

    https://trends.google.com/trends/explore?date=all&q=ebay,amazon

    Amazon at eBay's lunch. It's probably mostly access to reviews and dealing with a single company if something goes wrong, both features that eBay doesn't quite have. After eBay decided it wanted to become amazon, it just succeeded in alienating much of it's collectible's audience (that is going more and more to regular auctions via liveauctioneers, etc) and in becoming a Chinese fleamarket of dubious quality goods.

    The eBay millionaires are

    • Re: (Score:3, Insightful)

      Yeah, but Amazon is going down too. They've let in all these unscrupulous sellers from China, and it's going to pollute the whole brand. Amazon is going to turn into a retail Alibaba and get a reputation as a place you go to get screwed. Chinese are the world champions of cheating in business, they have ways we've never even heard of. Amazon is basically built on trust and trust is going away once people start realizing there's no vetting.
  • AN ONLINE trader who cheated the taxman out of more than £300,000 in VAT receipts has been given a suspended prison sentence. For five years Daniel Waslin, 35, failed to register his business for VAT as he made more than £2.6 million from the sales of remote control golf trolleys and garden furniture imported from China. He evaded paying £323,000 in VAT. HM Revenue and Customs found out about his online auction sales through import checks and he was prosecuted for tax ev

  • Most of e-commerce today is people and companies selling stuff at a loss. Anybody could sell a dollar for $.90. It's really only an achievement to be proud of if your goal is to run up the sales numbers so you can sell the unprofitable business to some dummy who doesn't care about profit.

    In our industry (pet supplies), we see that happen over and over again.
  • eBay. For the people that haven't figured out how to cut out the middle men.

  • So I guess they are now "1.5 million" sellers?

  • by Anonymous Coward

    Future generations will think we were all morons for wasting resources like oil and metal to make inferior junk, ship it round the world and have it break immediately and go straight to landfill. And then disguising this monumental waste with a words like 'business' and 'entrepeneur'. Gave up buying crap online from world-owes-me-a-living day traders, only buy through real companies with a reputation to protect now.

A consultant is a person who borrows your watch, tells you what time it is, pockets the watch, and sends you a bill for it.

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