News: eBay Appeals to the 55+ Crowd, Too
September 26th, 2005 by Laurie BarakSource: Wall Street Journal
Marcia Cooper and Harvey Levine of New Jersey hoped for a blissful retirement — until they both were laid off from their jobs. They hadn’t planned to quit working so soon and hadn’t saved enough. Feeling unprepared to compete with 20-year-olds in the traditional job market, the 60-something couple turned to eBay.
Ms. Cooper and Mr. Levine started small, standing in line to buy concert tickets for acts like Phish and Bruce Springsteen and then reselling the tickets for a profit. From there, they moved to selling wine glasses, antiques and more valuable items such as baseball memorabilia. Those endeavors turned into a business the couple named General Enterprises. The average monthly sales this year: more than $10,000.
“It’s been a boon to us,” Ms. Cooper says of the business they started back in 2000. “We didn’t expect it to grow quite as fast, because at our stage in life it’s very, very difficult for somebody to enjoy what they’re doing and make money at it.”
Many people age 55 and older are turning to the online marketplace. For some retirees, eBay has become a kind of financial lifeline, supplementing pension plans or savings that may not be sufficient. Others have uncovered a latent entrepreneurial streak in themselves or simply see eBay as a creative outlet; they enjoy the sales process and the interaction an eBay business gives them with people around the world.
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