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FaceBook supposedly planning some kind of auction tool or site - UNFOUNDED RUMOR?
 

FaceBook.
Word is that Facebook has a auction type system in the works. They will also have there own payment system, no more paypal to deal with.

I will have more information when I get it.

HI:
Although Facebook is up and coming-the analyst arent projecting it to be near as large or profitable as anything near as large as the Bay...
Unless someone Really big gets involved...i.e. Bill Gates :)

Modee is right, facebook is limited. Now it would be different if the auctions would be global and not just through the networks you are on. Please update with more info when you find out :)

It's not an auction site - but an auction module to add to your profile, I believe. Isn't it called Garage sale?

No this is not garage sale. Garage sale is something totally different and is not even developed by facebook. You wouldn't have to sell to just people in you network anything you post would be visible on any network.

To EHL, I think Microsoft invested alot of money in fb this summer, I know it isnt really related, but it is a step.

There is an article on msnbc about how Facebook has sold 1.6% of its stake to Microsoft for $240 Million. Facebook was valued at $15 Billion!!!

Yep that is what I was referring to in my last statement.

Modee...do you know every line from every movie? It is starting to seem that way...

No I can't see any other supposed plans for anything auction related, other than garage sale.

Facebook couldn't get their advertising platform right, I don't think they'll get an auction one right either.

Ok first of all modee changes the title to make it more informative. Also this forum does not condone insulting other members.
Hey modee knows a lot about everything not just eBay/Paypal. You know and I know and everybody on this forum knows that modee can get you out of a sticky eBay/paypal or any other business issue.
Well all the stuff that modee posts is proven and is very valuable information.

Well nobody has all the answers except God Himself.

with the amount of other social networking sites, i doubt facebook will last, theres way to much competition out there.

Considering that Microsoft is investing in Facebook and just about everyone between the ages of 16 and 25 use Facebook on a regular basis, how can you doubt facebook will last? The only competition they have is Myspace which is full of spam.

Yeh facebook is based around college students, and now even HS student. I wouldn't even think about using another social networking site. With the way that college is played out as something that everyone must do, I doubt that facebook is going anywhere.

facebook is going allow you to sell your unwanted items
 

Now, Facebook users can sell products and consumers can buy goods directly from the users profile page. Buyers won’t ever have to leave the page to complete their purchase and payment transaction. Garage Sale consumers no longer need to pay listing charges associated with online auction sites, and they can take advantage of significantly lower individual transaction fees.

Current Facebook users can add the Garage Sale widget to their pages from Facebook’s application suite. Users then upload necessary product information, including photos and begin selling on their profile pages using Garage Sale’s secure transaction capability. Right now, the Garage Sale application is only available to Facebook users, however, Buy.com plans to expand the service to users on other social networks in the near future.

To help Garage Sale users promote product sales, Buy.com is adding a special tab which will provide a complete marketplace for independent sellers to utilize Buy.com’s shopping marketplace and product platform.

The Garage Sale platform is based on patent-pending, embedded, e-commerce technology that Buy.com acquired earlier this year from Shoperion Inc. Buy.com also will use the Shoperion technology to enhance Buy.com�s advertising on third-party sites with the addition of checkout functionality incorporated directly within the advertisement.

thanks for that info badebay! good stuff :)

Once again I want to tell you that I was not referring to garage sale. That has been out for some time now.