AOL Aligns With eBay for Auctions
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Under terms of the agreement, eBay will be the exclusive person-to-person auction service in the general merchandise category of the AOL Classifieds area and in several areas of the hobbies section of the AOL Interest channel for a minimum of one year, and is also available at keyword: eBay.
AOL will receive guaranteed payments from eBay totaling $12 million, the companies stated.
The eBay service is designed for users interested in posting items for sale in the appropriate category on eBay. eBay said it facilitates the online auction for that item, and once the auction is complete and the winning bid identified, the winning bidder and the seller contact each other via e-mail to complete the transaction.
Currently, eBay claims to have more than 600,000 items for auction, and as of June 30, 1998 had more than 70,000 items for auction added daily by its more than 850,000 registered users. AOL last week reported a member-base of over 13 million.