If I were launching an auction site, I would focus all of my efforts on attracting buyers. I would offer discounts and rewards. I would offer bonuses and other goodies to make buyers want to shop at my site. I would drive traffic to the auctions through Google and Yahoo search. In short, I would market to the buyers. I would even reward my sellers for buying from other sellers.
It is true that without sellers, there is nothing for buyers to buy, but if you build buyer traffic, the sellers will come.
This is where Yahoo screwed up. They could have easily given eBay a run for their money had they simply placed a small link to a Yahoo auction whenever a relevant search was performed.
Even the golden child, Google will struggle if they don't market to the buyers. Forget about the sellers, believe me, they will go where the buyers are.
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