From Publishers Weekly
In his attempt to take eBay into the realm of social theory, Nissanoff leans heavily on "temporary ownership," an endless cycle of consumption where each purchase is looked at not as an acquisition, but as a stopgap that will be auctioned off after its utility has been extracted, and the next bigger and better thing will be partially bankrolled with the proceeds won (at auction, naturally) from the last. It's sort of "One man's trash is another man's treasure," but substitute "used designer briefcase" for "trash." Nissanoff stresses buyers only purchase things that really excite them and carry a high resale value (big ticket swag from Chanel, Fendi, Rolex, Hermes and the like). "The money you recoup when you turn in your expensive stroller, for example, can be put into a new bike for your child." The book, however, ignores a large segment of society: poor and lower middle class people, many of whom don't have computers or the means to buy a $4,600 watch. Similarly, Nissanoff's model assumes people will want to spend the time and energy tracking auctions, bidding, hawking their own stuff and making endless trips to the post office to send off their used handbags. Though it has an exciting promise-people buy newer, bigger, better, shinier possessions all the time, so why not put them to work?-Nissanoff's theory is directed at too narrow a range of consumers to carry a revolutionary consumption wallop.
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.
Ignore the all-too-familiar bizspeak
paradigm shift and
business model (among other phrases). Instead, focus on Internet entrepreneur Nissanoff's germ of an idea, spawned by eBay and a fairly new luxury auction e-company that just could curb America's love of materialistic spending. Think of the brilliant "pre-owned certification" programs hawked by such upscale brands as Lexus, Rolex, and BMW. Consider millions of gifts and items left languishing in closets, thanks to duplication or nonnecessity purchases. Remember the rage over Beanie Babies, a true phenomenon in e-trading. All of those trends, coupled with a yearning for
alte zakhen ("old things"), may well convince U.S. consumers and companies that temporary ownership has its psychic and financial rewards. The author is persuasive, acknowledging present-day e-auction issues such as the lack of true liquidity in specific categories and forecasting a dramatic rise in auction facilitators, "dropshops," restorers, and new market channels. But the underlying question still persists: How many Americans will truly change buying behavior to create a robust trading marketplace?
Barbara JacobsCopyright © American Library Association. All rights reserved
