January 23, 2008 / 10:31 PM / 12 years ago

EBay plans to cut sellers fees on auction site

SAN FRANCISCO (Reuters) - The world’s largest online auction site, eBay (EBAY.O), plans to cut the fees it charges sellers on its auction site, according to a presentation of the company’s quarterly results on Wednesday.

Responding to complaints by its key network of auction sellers, eBay will reduce the upfront fees sellers must pay to insert new listings on its auction sites along with reductions in the final transaction fees they pay on successful sales.

“We are going to make breaks from the past,” John Donahoe, the newly named chief executive to be, told investors on a conference call to discuss eBay’s 2007 year-end results.

Over the next week, eBay will announce changes in pricing of its services and improvements in the way buyers can rate sellers, Donahoe said.

“We are going to get very aggressive about making eBay easier to use,” said Donahoe, who will formally take the reins from long-serving CEO Meg Whitman at the end of March.

Reporting by Eric Auchard, with additional reporting by Michele Gershberg in New York; Editing by Braden Reddall

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