Chapter 1. Ready, Set, Shop!

eBay isn't like traditional online stores, where you pile up purchases in a virtual shopping cart and then check out. On eBay, the main attraction is its auction format; would-be buyers compete with each other by bidding on an item until everyone's made his top offer, or until the always-ticking eBay clock brings down the final hammer.

This arrangement may sound about as relaxing as rush-hour traffic when you're late for your own wedding. But once you get used to it—which isn't hard—it's straightforward and amazingly fun.