Study Shows eBay Buyers save billions

[Reuters]

The independent research by two statisticians from the University of Maryland’s Robert H. Smith School of Business found buyers saved $7 billion that they might have otherwise been ready to pay in a study of eBay auction behavior in 2003.

Applying the same analysis to 2004 buyer data, consumers saved $8.4 billion, said Wolfgang Jank, one author of the study. A linear projection of the research findings would mean consumers saved around $19 billion during 2007, Jank said.

Online shopping has grown tremendously over the past few years and eBay seems to attract a large amount of users. This, in turn, allowed more things to be bought and sold since anyone can sell almost anything at any price. It is true what they say. “Another man’s trash is another man’s treasure.”

However, beware that not everyone are happy with what they bought. They are scammers out there, so be sure you know what’s in the package.