OZtion claims one-third of Australia's online auction market

Stephen Withers
Monday, 29 September 2008 12:43

Business IT - Networking

Online auction site OZtion claims it has taken 32 percent of the Australian auction market, thanks in part to charging lower fees than eBay.

While eBay is still the leader in online auctions, the company caused considerable disquiet when it tried to mandate the use of PayPal. This led to intervention by the Reserve Bank of Australia.

OZtion was acquired earlier this year by mobile chat service operator Jumbuck Entertainment in a move that was in part intended to expand OZtion's operations.

And that's certainly what happened.

In June, OZtion claimed one million unique visitors per month, 275,000 registered accounts, and 670,000 items for sale.

The latest figures are 1.3 million visitors, 331,000 accounts, and 800,000 items for sale.

"Buyers and sellers alike want to get the best deals, in the safest environment with the freedom to do it their way, and we have achieved this with OZtion," said general manager Philip Druce.

"They want freedom and choice. The choice of what they are able to buy and sell, and the freedom to conduct the transactions how they want."

What does OZtion do to provide the "safest environment"? See page two.