eBay is primarily an online marketplace where sellers can list items for sale using a variety of formats, including auctions, fixed price listings, and Buy It Now listings. While auctions were eBay’s original format, they now make up a smaller percentage of listings on the site.
In an auction listing, sellers set a starting price and a duration for the listing. Buyers then bid on the item, and the highest bidder at the end of the listing wins the item. In a fixed price listing, sellers set a price for the item, and buyers can purchase the item immediately for that price. In a Buy It Now listing, sellers set a price for the item, and buyers can purchase the item immediately for that price or make an offer.
So, while eBay does have auction listings, it is not solely an auction house. It is a more general marketplace where sellers can use a variety of formats to sell their items.
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