June 9, 2005--Online auction site eBay is hoping to attract thrifty business owners with a new website, www.ebaybusiness.com, to be launched on June 15th.
The website is part of a push by company's executives to take eBay Business mainstream in response to a recent explosion of online business purchases. Business buying on eBay has more than tripled since 2002, quickly making the auction site a one-stop shop for everything from forklifts to ultrasound machines.
EBay is also taking other measures to increase business purchases, such as a new Business Equipment Purchase Protection program launched this week. The program automatically protects buyers, up to $20,000, against misrepresentation on qualified capital equipment purchases, at no cost to the item's seller or buyer. It covers everything from construction to medical equipment purchased for more than $1,000.
The new business website and the Business Equipment Purchase program are both an an effort to make companies more aware that eBay is a trusted purchasing resource.
"It makes sense to us to bring the two together," said Jay Fiore, senior manager of marketing and planning at eBay. "We think of the entrepreneur as a scrappy person looking to save money for their business any way they can. They can find on eBay a broad selection of all business supplies at great prices. For a lot of them, if it wasn't for eBay, they'd still be dreaming of their companies instead of running them."
No one knows that better than Robert Kundel, owner of Kundel Industries in Ohio. Kundel used eBay to purchase the equipment that took his company from being a small manufacturer of construction cranes to the supplier of some of the nation's leading construction television shows, including ABC's Extreme Makeover: Home Edition and the Discovery Channel's American Hot Rod. Kundel said eBay's push to make the website more business friendly will only increase his online business purchases.
"Smaller companies like us can't afford new equipment, but on eBay we can buy equipment that's been owned for a few years and be able to really increase production and build capital with it," Kundel said. "EBay really helps small companies. It helps them to build their foundation."