5 and a half years ago I helped a European company start a small auction service that wasn't dependent on listing fees. This was using an idea that I came up with. Since then they have made millions in sales with this technique. Due to the nature of the business, industry awareness of this type of auction has remained low despite it's huge potential. After 5 and a half years, this company refuses to use listing fees and remains very profitable with this technique.

The obvious application for this technique is as an eBay competitor. A good PR campaign should educate the market that an eBay competitor exists that doesn't have a business model dependent on listing fees and attract sellers who don't want to risk losing a lot of money to listing fees. Currently, eBay competitors who try to use minimal or low listing fees use the same auction format and so are dependent on raising listing fees in the future. This technique guarantees no listing fees for the long term. Some fees may be necessary to fight fraud but listing fees are what a lot of sellers hate.

I have proof of concept so I know this technique works. I am looking for people who can help me introduce this auction format into new markets (eBay competitor or specialised markets). The potential market is huge. Many types of products don't sell well at online auctions because they use something similar to the traditional eBay format. There is great opportunity. PM me for more info.