EBay's success is based on its ability to transform many fragmented,
primarily local markets into global ones at a relatively low cost to
its users. People have always had a need and an interest in buying
and selling used, surplus, and collectible items. Traditionally, they
have done so through garage sales, classified advertising in local
newspapers, and flea markets. However, the number of people available
to complete a transaction was limited because a face-to-face meeting
was typically required.