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Bid on ItHow online auctions will change retail as we know it

ByApril Y. Pennington•

Opinions expressed by Entrepreneur contributors are their own.

The advent of eBay has done more than just allow people to pawn excess inventory for a few bucks or feed their passions for collectibles. Daniel Nissanoff, author ofFutureShop: How the New Auction Culture Will Revolutionize the Way We Buy, Sell and Get the Things We REALLY Wantand co-founder of online luxury goods resale company Portero, asserts that eBay and similar online auctions have created a culture that will explode in the near future and completely change consumerism as we know it.

Entrepreneur:How is eBay affecting business?

Daniel Nissanoff:In the eBay ecosystem--a term describing businesses that feed off of eBay--we saw the first-generation businesses, PayPal being the home run. Drop shops are the first of the second generation.

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