Transcript of the live chat session that took place Thursday, December 2, 1999. These sessions are normally scheduled for 12 noon-1 PM US Eastern Time (GMT -5) every Thursday.
Since the chat itself happens at a rapid pace, it's often difficult to note interesting facts in particular URLs as they appear on-line. Here's a place to take a more leisurely look. I've rearranged some of the pieces to try to capture the various threads of discussion (which sometimes get lost in the rush of live chat).
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Our online store at Yahoo
Our eBay
store![]()
My seller's
profile at eBay (with all customer feedback)
Richard Seltzer -- We'll be starting in about an hour, at noon Eastern Time (-5 GMT). Our guest today will be Joseph Sinclair, author of eBay the Smart Way. If you arrive here early, please scroll back and take a look at a few excerpts from that book.
Richard Seltzer -- Welcome, Dean and Libby. We'll be getting started in about ten minutes. In the meantime, please take a few minutes to scroll back and read excerpts from Joseph Sinclair's book.
Richard Seltzer -- All -- please introduce yourselves and let us know your interests. Our guest today is Joseph Sinclair, author of eBay the Smart Way. I'm hoping we can learn new techniques for buying and selling at auction sites and also how auction sites can be used as the basis for doing business on the Web without necessarily having your own Web site.
Bob Fleischer -- Bob Fleischer, Compaq Professional Services, my main interests are in knowledge management, collaboration technology, and mobile technology.
TracyMarks -- Hello all. I'm Tracy Marks, Internet trainer, and have been selling my photographs of professional figure skaters at Ebay for 8 months under the user name torreyphilemon
Richard Seltzer -- Welcome, Tracy. I know you have a lot of eBay experience. (You ought write your own eBay book.)
Reputation is often a subtle thing. A bad reputation doesn't
keep you from doing business. Many business transactions are
straightforward and essentially risk free for each party. For
instance, in an office supply store you hand your $235 to the
person at the counter and you get a fax machine. The
transaction is direct without much risk on either side.
On the other hand, if a transaction requires trust, a bad
reputation is a detriment. For instance, suppose you take
delivery of the fax machine but pay the $235 for it in
installments over a six month period. The seller has to trust
you to make the payments. If you have a bad reputation (a bad
credit rating), the seller will not make this arrangement
with you.
Or, suppose you pay the $235 to the seller who promises to
order the fax machine and deliver it as soon as it comes from
the manufacturer next week. You have to trust the seller. If
the seller has a bad reputation, you will probably not agree
to pay for the fax machine until it is delivered.
eBay transactions require trust. eBay sellers and buyers need
reputation. The idea of an international market place with a
transaction mechanism that works well is great; but it won't
work unless the buyer feels confident that he's going to get
the Sony camcorder for which he was the winning bidder when
he sends his $475 check to the seller. Why would anyone send
a check to another person he or she didn't know hundreds (or
thousands) of miles away? For eBay, the answer is the eBay
reputation system, the Feedback Forum. This is the heart and
soul of the eBay system. This is the firm foundation on which
the whole transaction process rests.
*eBay Feedback System*
How does eBay establish reputations for its sellers and
buyers? Simply, it enables sellers and buyers to rate each
other. The ratings are simple: positive neutral and negative.
In addition, sellers and buyers can make comments. These
comments are often fluffy praise resulting from a successful
transaction. When they are not fluff, however, they can
provide useful information of interest to the eBay community.
*Positive, Neutral, Negative*
Some scenarios follow which illustrate how you might enter
feedback based on you eBay transaction experiences. These are
solely my opinion. Everyone will have their own notions about
the feedback that the other party deserves. I think, however,
that you have to be reasonable.
For instance, suppose you are on eBay almost every day to
pursue your hobby of collecting antique mirrors. You buy a
mirror, send a check to the seller, but don't receive the
mirror immediately. Understandably, you get frustrated. The
seller, however, happens to be a person who works long hour
every day at a demanding job and only frequents eBay
occasionally on the weekend as an occasional buyer or seller.
She tends to think of eBay as a weekend activity. She gets
your check and subsequently finds out on a Monday that the
check has cleared. In all likelihood she is not going to get
around to shipping the package until Saturday. Is this
unreasonable? Not for her. But were she a person operating a
retail business on eBay instead, it would be an unreasonable
delay. Thus , reasonableness must be determined in an overall
context.
"Your Reputations on eBay" from EBAY THE SMART WAY by Joseph Sinclair
There is no requirement that a seller or buyer must give the
other party feedback. Unfortunately, failure to do so
sometimes undermines the system. If a transaction does not
reflect adversely on either party and no feedback is entered,
I suppose the system can survive without the information
about that transaction. Indeed, in such cases, which are the
norm not the exception, many parties are too lazy or
distracted to enter feedback. When a rating would be adverse
to a party, however, and the other party (the offended party)
does not enter it, that is an irresponsible act. For
instance, suppose a seller operates a bait and switch scam.
He offers one item of merchandise but substitutes another of
inferior quality. A failure on the buyer's part to report
such an offence via feedback undermines the system,
particularly when it turns out that the seller is routinely
unfair to other parties.
*Special Cases*
There will always be special cases where the transaction did
not close, because the seller and buyer agreed that it should
not close. Suppose the seller auctions a model MX54-A. After
the auction the seller informs the buyer that he has made a
mistake. He has only the model MX54-C which looks the same
but is generally worth 35% less. He offers the different
model to the buyer for the bid prices less 40% and offers to
ship free. The buyer decides not to close the transaction
(not to buy the substituted item). Should the buyer provide
feedback on the seller?
If the seller has made an honest mistake, there's not reason
to rate him or her negatively. After all, in the above case
the seller seems to have offered the buyer a favorable deal
to atone for his "mistake." In such a case, assuming she
believes the seller, the buyer will probably not enter
feedback. Probably in most cases where the seller and buyer
agree not to complete the transaction, no feedback is
reported.
Unfortunately, feedback should be reported in such a case. It
can be valuable to fellow eBay patrons not for its rating
value (e.g., neutral) but for its commentary. For instance,
in this case, the buyer can rate the seller neutral but also
include the following facts:
Proper comment: He mistakenly did not have the item but made
a reasonable offer to substitute.
If the mistake was sincere, this rating will not hurt the
seller. If the mistake was routine, rating like this will
eventually expose the seller as careless or a shady operator.
*Comments*
Using a positive, neutral, or negative feedback provides
little information. Only a straightforward comment will make
any sense out of a rating. Just stating the facts will give
your comments the maximum impact they deserve.
*Negative or Neutral Feedback*
Always just state the pertinent facts. Don't make any
judgmental, accusatory, or speculative comments. If you do,
you may be wrong and you may lose credibility with other eBay
members, presumably just the opposite of what you want to do.
If you make a judgmental, accusatory, or speculative
statement, you may be defaming the other party, thus
incurring legal liability. It's almost impossible to have all
the facts you need to be on legally sound grounds to make
such a statement. But you can state the facts as you know
them. The truth is always a defense to defamation. If you
stick to the facts that you know, you will make it
impractical for someone to challenge you legally, and a
lawsuit will be unlikely. Fairness also dictates that you
cool down and determine what the facts really are before you
make comments about someone.
The facts will be more damning in any event. Any time you
make an opinionated negative statement about someone else,
people take it with a grain of salt. But facts are facts, and
people pay attention to facts.
"Your Reputations on eBay" from EBAY THE SMART WAY by Joseph Sinclair
*It's Your Reputation*
Is your reputation on eBay artificial? Is it more like an
attribute in a digital game than the real thing? Can you
break your agreements with impunity and walk away without
consequences? If you develop a bad reputation on eBay, can
you just erase the entire experience? Can you be sure your
eBay reputation won't spread beyond eBay? The answer to these
questions is, no.
Your reputation on eBay is perhaps more real than it is
offline. After all, it's more accessible to everyone. It's
the real thing. But how can a bad reputation on eBay hurt you
in the real world? That's easy to answer. What's to prevent
your banker from looking your reputation up on eBay before he
or she loans you $23,000 for a new car? Nothing. In fact, a
smart banker might do just that. (Will your alias on eBay be
a question on future loan applications?) Look at eBay as
another credit bureau.
You reputation on eBay is not something to take lightly.
*It's Their Reputations*
Reputation is not a problem for you, because you're a good
guy or gal who is honest, honors agreements, and treats
others fairly. The good news is that the eBay feedback system
protects you against all the creeps who deserve bad
reputations and get bad reputations on eBay just as they do
off line. The system works for you, and you have a vested
interest in maintaining the integrity of the system and
making it work.
The system relies on you to *tell it like it is*. This means
you must give someone a negative or neutral rating when they
deserve it just as you are willing to give someone a positive
rating when they perform as they are obligated to perform. By
failing to give negative or neutral ratings when deserved,
you undermine the system.
The retailers on eBay who are also retailers off line
understand reputation. They know that reputation is
everything when it comes to selling online or offline. They
have built their businesses on their reputations. Ironically,
many are reluctant to give adverse ratings to buyers who
abuse them. Their reasoning is that a bad rating given a
buyer who doesn't honor his or her agreement to purchase may
result in retaliatory negative feedback. Thus, an aborted
transaction potentially hurts an innocent retailer perhaps
more than the guilty buyer who probably doesn't care about
reputation. This is an unfortunate weakness in the system,
but the system has survived in spite of it.
This situation is not limited to retailers. Almost anyone of
good will who cares about his or her reputation will be
reluctant to post negative feedback on the other party. This
natural propensity warps the entire feedback system.
If you see a retailer who has 80 positive ratings and 2
negative ratings, it most likely reflects a normal situation.
You can't please everyone no matter how hard you try. It's
likely that those 2 negatives represent that element of the
population who will never be happy.
On the other hand, if you see someone on eBay who has 10
positives and 6 negatives, it seems probable that the warp is
present. For each negative rating, there were probably one or
more additional parties who should have given a negative
rating, but didn't. A person who has a substantiated number
of negative ratings is suspect, particularly when the ration
between negative and positive is high.
Indeed, when a person gets to a feedback rating of -4 (adding
together both positive and negative feedback), eBay will take
a close look at him or her and may terminate his or her
membership.
Richard Seltzer -- Sinclair -- What do you sell at eBay? And what is your handle there? Do you do it regularly? And if so, what kind of volume?
Sinclair -- Seltzer: I am a casual buyer and seller on ebay. I have a client who is a volume seller and I've done a lot of research for my book on how to facilitate retail sales based on my client's experience. My handle is: sinc .
Richard Seltzer -- Sinclair -- Who is your client/volume seller? And what do they sell?
Sinclair -- Seltzer: My client is One Stop Card Shop and they sell typical collectibles: beanie babies, baseball and Pokeman.
Sinclair -- Seltzer: I don't have any first hand experience than other than the typical collectibles -- that are popular today.
TracyMarks -- I have a question about the reliability of Ebay's feedback system since many of us often refrain from giving negative or neutral feedback at times due to fear of reprisal. I tend to give no feedback to customers whose response time is less than stellar.......and only negative feedback to those who absolutely do not follow through.
Sinclair -- The ebay feedback system is a little unreliable because of the reluctance of ebay retailers to give negative feedback. That's unfortunate, but people who misbehave also do business with nonretailers and get the negative feed back that they deserve. :-) So, I think that the system works, generally speaking.
Richard Seltzer -- Sinclair -- Do you know of any portable reputation systems/services -- linking together the feedback systems of multiple auction sites?
Sinclair -- Seltzer: I don't know of any portable reputation services that link together the feedback systems of multiple auction sites. ebay has about 95% of the auction business and I'm not so sure that such a service would be necessary with that in mind. P.S. I have no interest in ebay other than I'm an author writing about it.
Richard Seltzer -- Sinclair -- A portable reputation service could help some of the non-eBay sites to get rolling. In other words, if I want to buy or sell at Amazon or Yahoo, it would be good if I could quickly check the eBay reputation of the person I want to do business with. Likewise for some of the small niche auction sites.
Ron Rothenberg -- no problem with having portable reputation -- on other auctions, i provide a link to my ebay feedback.
Richard Seltzer -- Ron -- Yes, I can see the value of linking to eBay's feedback to establish your credibility at other sites. Would you see any value in a service that would make it easy for buyers to see your reputation at multiple sites with a single click?
Sinclair -- Ron: That's a clever way to publicize your reputation.
Ron Rothenberg -- I think serious sellers probably concentrate on only one or two venues, so I don't think there is a call for portable reputations, though I'm sure gomez.com or bizrate will be working on it.
Ron Rothenberg -- I think being too widely spread would dilute any branding you might reap the benefits of.
Richard Seltzer -- Sinclair -- Is there any way to quantify how well the reputation system works? In my limited experience (selling comic books and bottle caps), I found that I was able to get 3-10 times more for similar items after I had built a reputation of 20+ positive feedbacks. I saw no change when I crossed the 100 mark. What's your experience?
Sinclair -- Seltzer: I think that once you reach a certain minimal level of positive feedbacks that you develop a level of confidence that won't change thereafter. That minimum level probably depends on what the item is.
Richard Seltzer -- Sinclair -- I agree that above a certain level additional positive feedback probably makes no difference. But from your experience can you quantify the difference in prices that you are likely to get when a newcomer and when you have established a reputation? What is the multiplier? (As I said for me it was 3-10 fold.)
Sinclair -- I have not done any definitive studies to determine a multiplier. But, I would think it would be different for different kinds of products. Certainly you will always to better after you establish a reputation. People buying more expensive items will look for an established reputation.
Sinclair -- I don't know of any ebay information websites, but you might be able to find them advertised through ebay on the auctions themselves. They are a lot of programs and books on ebay being sold on ebay.
Richard Seltzer -- Sinclair -- No, I don't think eBay would be a good place to look for auction information sites. eBay has there own immense community that they try to completely service themselves. I'm sure that you wouldn't find any references to AuctionRover there, but AuctionRover has excellent resources for sellers there and at other auction sites.
TracyMarks -- Someone asked earlier
about Ebay auction resource sites. I was just hunting for the page of links
I posted on the subject, for my Internet students. It's here...
http://www.geocities.com/~webwinds/classes/auctionlinks.htm
Sinclair -- Seltzer: Seasonal variations will depend upon products being sold.
Ron Rothenberg -- Richard, that is also the way normal retail works -- summer is slow, xmastime is busy. Not a surprise that people are doing other things in the summer.
Richard Seltzer -- Sinclair -- regarding seasonal variations, yes I'd expect variation with kinds of goods that normally have demand that depends on the season. But I'm seeing it for collectibles, with demand that shouldn't change that way. Have you seen anything of that kind? I saw excellent demand in the spring, demand died over June to August, then it picked up again in the falll but not to spring levels. Is this normal? Or did the number of sellers go up astronomically, far faster than the number of buyers, changing the overall demand environment?
Ron Rothenberg -- sellers are still in short supply.
Sinclair -- Seltzer: In my opinion, the number of sellers is not going up faster than the number of buyers and that the collectibles business is subject to sesonable demand.
Richard Seltzer -- Sinclair -- If the collectibles business is subject to seasonal demand, when do you think would be the hottest season? (For me, that doesn't compute.)
Sinclair -- Seltzer: Christmas.
Richard Seltzer -- Sinclair -- Sounds like we probably mean something different by "collectibles". There are new collectibles like Pokemon and beanie babies, which clearly are subject to seasonal demand (hot at Christmas). Then there are old collectibles -- items 30 years or more old, which do not normally fluctuate that way. Those are the kinds of items that I'm seeing odd variations in demand for.
TracyMarks -- BTW, I agree with Sinclair about seasonal demand depending on the product. Right now is the slowest time ever for me...slower than summer. April and May were the best for ice skating items and photos. The irony is that tv has a lot of ice skating photos on now, whereas they all stop in May....and people then want to hang onto photos of their favorite skaters. A lot also seems to depend on taking advantage of buyers who buy many items from you.....if you keep offering new items that interest you, they return to your auctions; otherwise you lose them. Also, right now I imagine that those with items that really make good Christmas gifts are doing best..... (Correction: Tv has a lot of ice skating SHOWS on now, so people aren't grabbing at the photos......)
Sinclair -- Seltzer: I don't have any first hand experience than other than the typical collectibles -- that are popular today.
Ron Rothenberg -- i am very very busy right now -- people buying xmas gifts, mostly.
Ron Rothenberg -- anyone want a part-time job picking and packing?
Sinclair -- Tracy Marks: My book, "ebay the Smart Way," shows that you can post multiple auctions by using a desktop data base and a word processor mail merge without being a programmer. It's a little complicated to set up but easy to use.
Richard Seltzer -- Bob -- You might want to check my Guide to eBay for Sellers at www.samizdat.com/ebay.html and /ebay2.html It try to deal with those kinds of questions, succinctly.
Sinclair -- Seltzer: There are many people on ebay who are making a living selling only on ebay. There are others who supplement their bricks and motar retail operation by selling on ebay and their are others who supplement their e-commerce website by selling on ebay.
Richard Seltzer -- Sinclair -- But can you tell us about any specific examples?
Sinclair -- Seltzer: I have a client who has a bricks and mortar store and an e-commerce site and also runs 100's of auctions each week on ebay.
Sinclair -- Seltzer: An example would be cccd.com which is one of the largest collectibles dealers in Northern CA.
DeanH -- So, how do we run a full-scale retail operation without a store?
Sinclair -- Dean: Get organized to run a large volume of auctions. You don't need a store, although I recommend you have a e-commerce site.
Sinclair -- I use miva merchant for my catalog/transaction software. I use a desk top data base to populate the merchant catalog and to handle orders. With the combination of those two -- you should be able to do what you what to do.
Andy -- Quick follow-up -- what desk top data base do you use, and any reason you favor it? Thank you.
Sinclair -- Andy: Any desktop data base that's easy to use is just fine. I use Microsoft Access but have no reason to favor it over anything else.
Ron Rothenberg -- Of course I have -- I figure that part of what I'm selling is excitement and bargains, etc., Like a casino, I have to pay off every now and then to keep people coming. I always chalk it up to "marketing." Never have a reserve, either.
Ron Rothenberg -- If no one ever got something for less than cost, why would they shop on ebay? why not just go to the store?
Bob@CottageMicro.Com -- Ron - I meant did you sell it for less than it cost you ? I know that is NOT the way to do business, but it seems like a possibility on eBay if you don't have a reserve bid.
Ron Rothenberg -- Yes, frequently they sell for less than they cost me. and then the desire for getting a bargain kicks in, and prices in subsequent auctions go UP UP UP.
Ron Rothenberg -- What matters is at the end of the year, how much more all your items sold for than they cost. One auction does not make or break.
Richard Seltzer -- Ron -- What are you using now as a starting price? I remember you used to have it way low even for valuable new merchandise; then you raised it without that affecting the number of bids you attracted. Have you settled on a standard starting price? Or on the ratio of starting price to the value of the item?
Ron Rothenberg -- most start at $9.99, some $4.99, some $.99 . values up to $250 or so.
Richard Seltzer -- Ron -- Wow! That's impressive. Starting bidding at $.99 on items worth $100 to $250 and doing that regularly... What's the typical final bid (compared to cost to you) using that technique?
Ron Rothenberg -- at the moment, my merchandise cost is about 40% of gross. That gets better all the time. Last spring, it was 70%. I have learned to buy better, which is where I believe the money is made. but it varies -- my two big items are Borland C++ Builder Pro - Cost -- $5.00, typical sales price - $25.00. On the other hand, I have Mario Teaches Typing 2 w/$10 rebate - can't sell those for $.99 some days.
Sinclair -- Ron: That's an interesting strategy. I'm glad it works for you. It shows that there are a lot of strategies that work on ebay. Ebay is not all collectibles and that different strategies will work for different products.
Ron Rothenberg -- Yes, I understand that computer software and hardware is different than collectibles. Anyone can go to the store and buy what I'm selling, which tends to put a lid on the auction price.
Richard Seltzer -- Ron -- Sounds like you've built a sold eBay-based business. How much time do you devote to eBay-related activities in the typical week? Are you putting in 80 hours (or more)? And will you soon be in a position to retire to Tahiti :-)
Sinclair -- Bob: You can get a state sales tax license and collect sales tax on sales within your state. This is important if you are a retailer. For casual sales, you can probably get away without doing this.
Richard Seltzer -- Bob@Cottage -- I live in Massachusetts. So if someone living in Massachusetts buys something from me, I'm required by law to collect sales tax on that purchase. For cross-state purchases, sales tax becomes legally murky. Standard practice seems to be that if you have a physical place of business in a given state, you are required to collect sales tax there. No one seems to have figured out yet if using a Web server in a state means having a physical presence there. (E.g., if you had your site hosted in New York State, someone might make a case that you had to pay New York sales tax. The courts will have to settle those questions.)
Ron Rothenberg -- richard, having a web server doesn't mean a physical presence. Many of these sales tax issues were resolved 150 years ago by montgomery ward.
Sinclair -- Seltzer: I think that selling on the web is analgous to mail order. It's clear that a state cannot enforce its sales tax laws outside of its state. I believe it will take some kind of Federal law to change that. When you have a website not in your state, that does complicate the picture.
Richard Seltzer -- Ron and Sinclair -- I've heard of some instances of issues related to sales tax and location of Web server -- I believe Florida was one of the states trying to do that. I believe that it is murky and that the old sales by catalog precedents do not necessary apply. I wish it were clearer.
Ron Rothenberg -- Tracy, the time spent is a function of how much info you can get in one place. I sell things at outletzoo.com -- they send me a purchase order when someone wins an item - it has name, address, credit card info, shipping info, all in one place. Ebay doesn't do that, and the most time-consuming thing is to match up all info coming from a person's 3 different email addresses, and a check from their uncle.
Ron Rothenberg -- it makes all the difference. Ebay is very seller-unfriendly, and amazon is even worse.
Ron Rothenberg -- new auction sites seem to copy ebay, sometimes taking the worst features, along with the best.
TracyMarks -- In response to: "the most time-consuming thing is to match up all info coming from a person's 3 different email addresses, and a check from their uncle." You're not kidding, Ron! I've been getting nasty emails all week from an Ebay customer to whom I returned her order and check because she didn't say what it was for or who she was and all she gave me was an address that I couldn't match to any information I had on sales. And this when I ask in CAPITAL LETTERS in my acknowledgment for buyers to indicate at LEAST what they're buying, and preferably their user name, email address and item number as well. I wonder how others deal with buyers who send payment without specifying for what. I've had some who just dropped cash in an envelope with nothing else.....
Bob@CottageMicro.Com -- Tracy -that sounds like a nightmare. Doesn't eBay assign some kind of tracking number to each auction item?
Richard Seltzer -- Bob@Cottage -- No, the only tracking available is what you provide yourself. And that is a major challenge when you have multiple auctions going, especially since many of the buyers are only casual buyers, or first timers, and do some of the dumbest things -- sending your a check or even cash without any indication of what they are paying for.
Ron Rothenberg --is anyone using billpoint yet? to take credit card payments automatically and with 1-click on ebay? I am using amazon 1-clic payments, and it makes life a lot easier. amazon 1-click gives me all the info (shipping, payment, etc) all in one place. Then it doesn't take 30 minutes, it just takes a few minutes.
TracyMarks -- Good question, Bob, about marketing outside Ebay. However I nearly got booted out of deja.com for mentioning one of my ebay auctions in a newsgroup message. Be careful with newsgroups, even for informal personal sales!
Richard Seltzer -- Bob@Cottage -- Each of your eBay auctions has a unique URL. Also, the search for all the auctions of a single sellers has a unique URL. Hence you can send email to people pointing them to particular auctions or all your auctions. And you can also make links to your auctions from Web pages. Basically, you can treat your eBay activity as an extension of your Web-based business and your Web site. ANd it works the other way too -- you may post some items at eBay not expecting to sell them there but rather to attract attention and point people to your Web site.
Sinclair -- Bob: One way to market your ebay auctions is to integrate them into your e-commerce website.
Sinclair -- Seltzer: Sure, I will answer any questions. My e-mail is jt@sinclair.com
Richard Seltzer -- Sinclair -- thanks very much for joining us today. As usual, I'll edit the transcript and post it at my site. Check www.samizdat.com/chat.html While we typically get 6-24 active participants, like today. Over the course of a year, the typical transcript gets about 1000 visitors.
Richard Seltzer -- All -- thanks for joining us today. Before you leave, please post your email and URL addresses so we can keep in touch. (Don't presume that the software captures that). Next week we'll once again talk about auctions. I'm hoping we'll be joined by a representative from AuctionRover, an auction resource site. Please join us again and spread the word.
Sinclair -- To Seltzer and everybody: Nice to be with you today!
TracyMarks -- Thanks for sharing, Sinclair, and thanks again Richard.... My aboutme page at Ebay is http://members.ebay.com/aboutme/torreyphilemon/ Happy holidays to all.
Ron Rothenberg -- Ron Rothenberg, Homebase@world.std.com
venkindia -- Hello, Please
let me know about the secure server providers
I am in very bad need of it now
Richard Seltzer -- Vendkindia -- Sorry, I don't have a ready answer for that. Today's main topic was auctions, and we're just wrapping up now. I'll include your comment in the transcript in hopes that someone will get back to you directly.
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