eBay Goes Gold

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Tuesday, August 16, 2011 - 10:52am

Online auction site cashes in on booming gold market.

With the price of gold on the rise, online auction sites like eBay are getting into the market.

The powerhouse auction site is now pushing its own Gold Bullion Center, and people are jumping on the bidding bandwagon.

"eBay is a very proven site. It has a lot more credibility than a lot of the sites that people do not know about," says San Diego State University Business Professor Steven Osinski.

But do you want to spend that kind of money in a computerized auction?

"It's primarily for smaller investors. If you're going to buy multiple bullion bricks, it's really not where you want to go. But for smaller investors, it certainly is a good choice," Osinski advises.

If you sell your gold locally, you're limited to the number of merchants that are in town.

When you sell it online, the world is your customer.
 

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