BOSTON--eBay's "Buy It Now" feature is increasing in popularity. The option, which lets buyers skip the auction process if they agree to a preset price for an item, was featured on 33 percent of listings worldwide in the second quarter, eBay Chief Financial Officer Rajiv Dutta said at a U.S. Bancorp Piper Jaffray conference here Thursday. eBay launched Buy It Now in 2000.
Fixed-price sales accounted for more than 19 percent of gross merchandise sales in the second quarter. The company is expanding the number of ways sellers can offer fixed prices. It recentlya format that lets people sell multiple items through short-duration ads, eliminating the auction entirely. Dutta said the new format should bump up the overall value of fixed-price sales, although it may not have an effect on Buy It Now listings.