Yahoo has conceded defeat to eBay in the online auction business and decided to close Yahoo Auctions in the US and Canada. This is the second major service Yahoo has cancelled after announcing its intention to close Yahoo Photos in favour of Flickr last week.
According to figures released by Hitwise, Yahoo was flagging massively compared to eBay. Last week eBay accounted for 94 percent of all visits in the Auctions category, with Yahoo only managing to take 0.19 percent.
The last day people can list items is 3 June 2007 and bids have to be completed just under two weeks later by 16 June. Customers will still be able to access their auction accounts until 29 October, although only with limited functionality.