Credit: Shutterstock photoRecently, there were reports that Brooklyn-based artist Nick Hugh Schmidt was selling his Facebook, Inc.FB username and password on eBay EBAY . It now seems like Nick might just have a new option to sell his ID and password on Facebook itself!
Yes, you read that right. It hasn't been too long since Facebook introduced the official Sell buttons on its site. This feature allows a user to get rid of unwanted second-hand goods.
Facebook has taken this a step forward by adding a new feature that lets users sort and find 'For Sale' posts across numerous groups based on the items being sold. These categories comprise event tickets, household items, phones, real estate, rentals and more. (Yes, just like eBay).
Of course there are differences between Facebook and eBay. For one, if you choose Facebook to buy things, you will be excused from paying extra fees for the items you put on sale.
Add to this, Facebook's large user base and you have more chances to sell your items. This is a good enough reason to use the social website to sell your belongings.
But that's not all- Facebook also clearly displays the names and other details of users, most of which are also part of some social group. This lends credibility to the user.
However, there is a little glitch. The social networking site does not take any sort of liability for the buying process. It has released a disclaimer that says that it cannot be held responsible for the transactions that take place on the platform. That means that both the buyer and the seller are obligated to respect the common standards of the deal. So, users have to be extra careful when transacting.
eBay, on the other hand, suspends the account of buyers that are not trustworthy and offers badges to sellers with a good history of customer service.
Last Word
Facebook is surely not leaving any stone unturned to ensure that its users do not have to leave the site and that they can get just about anything they need using their Facebook account.
However, whether Facebook really turns out to be the next eBay depends on the technology it develops over the next few years including that related to the security of transactions.
eBay no doubt is sitting up and taking note.
While eBay carries a Zacks Rank # 3 (Hold), Facebook holds a Zacks Rank # 2 (Buy).
Better-ranked stocks in this industry include Synacor, Inc. SYNC and MeetMe, Inc. MEET . Both sport a Zacks Rank #1 (Strong Buy).
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EBAY INC (EBAY): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
