eBay Inc. announced earlier this week that it is eliminating live auctions as part of its company restructuring.
The San Jose-based online marketplace (NASDAQ: EBAY) said it plans to close down the eBay Live Auctions business as of Dec. 31.
Live Auctions represent a throwback to traditional auctions by linking eBay users remotely to auctions moderated by live auctioneers, both in physical locations or online. Unlike eBay's typical 10-day window for auctions to close, Live Auctions conclude when there are no further bids.
In a posting on one of the company's user discussion boards, a company executive said "maintaining and improving this platform falls outside our immediate focus, and will, therefore, be retired at the end of the year."
For several years, eBay has partnered with a small number of independent auction providers who in turn worked directly with the live auction houses to supply merchandise and auctioneers for eBay Live Auctions.
Several hundred sellers who list items directly using the Live Auctions format will be affected, the company said.