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Assuming you had the monumental war chest to compete with eBay, you'd need a three-pronged approach:
(1) Invest in lobbyists and action groups to address what many perceive as eBay's extensive engagement in criminal enterprise e.g. acting as a fence, helping people avoid taxes, etc. I know I personally have come across my intellectual property being sold on there and found the system for getting it removed impenetrable. You'll need an excellent compliance department on your own site to avoid being hoist on your own petard.
(2) Obviously, you need a scalable, well-coded, site with a good user interface.
(3) Massive PR outreach and incentives to people to try your system. Kind of like cams, you need to make sure you time out getting people to try out selling (chat hosts) and try out buying (surfer traffic) at the same time.
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