Amazon takes on eBay … sort of

December 9, 2014: 8:00 AM ET

Amazon is the new eBay … sort of.

EbayVsAmazon

Amazon (AMZN, Tech30) has a new feature called “make an offer” that allows customers to place bids, rather than buy outright. But unlike Ebay, (EBAY, Tech30) it’s a one to one bid where the customer haggles privately with the seller.

“The ‘make an offer’ feature is not an auction format,” said Amazon, in a press release. “The intention is to lower prices, and a customer negotiating with a seller will never pay more than the listed price.”

This works in the opposite of an auction, where the price goes up as multiple customers bid on an item.

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