Bezos: Auctions are too much fun for our customers

I've been waiting seven years for this explanation from Amazon chief Jeff Bezos. Why did auctions soar at eBay but flop at Amazon?

Pretty simple, Bezos says. Amazon customers just can't be bothered with auctions:

We make it really, really easy to buy things.... If you’re a customer who wants that kind of quick service, you do not want to wait till an auction closes. An auction is more about playing a game. There’s some fun involved. You’re not necessarily just trying to get the job done. It’s a different kind of thing and a different customer segment.

OK, I'll buy that. But further down Bezos gives a squirrelly explanation for why zShops got the ax. Something about it being stuck off in another department.

The real answer is that Half.com showed Amazon they could charge sellers 15 percent instead of 5 percent.