grow. The penetration of the consumer to consumer Internet sales market is currently "probably less than 1 percent," and EBay can take advantage of the potential. An analyst at McFarland Dewey & Co. in New York, calls EBay an "example of a company with a leadership position getting a premium valuation. Having a head start makes a big difference." Buyers tend to gravitate to where the most sellers are, and sellers seek sites that attract the most bidders (Selwyn 88).
EBay had net revenues of $12.9 million for the third quarter of 1998 and $30.4 million for the last four reported
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