In just over 18 months, more than 20,000 listings for new and existing homes have been posted on eBay. On average, an eBay posting generates more than 1,000 viewings per property, but there's no way of knowing how many postings result in actual sales. EBay Inc. executives say the company doesn't keep track of concluded transactions. In addition to new and existing homes, the postings include land, vacation homes, and time shares. You don't have to be wealthy to buy or sell at an online real-estate auction and this venue can be the perfect place for you to sell your time share.

Should you buy, or sell, a time share on eBay? Or is it too risky?  Before you decide to participate in an online auction familiarize yourself with the rules of the road. The format for eBay real-estate auctions is different from those usually used on eBay. For starters, a bid to buy or sell real estate on eBay isn't legally binding. A bid on eBay for a property merely expresses your serious interest in the purchase and indicates that you want to proceed to final negotiations for the property. Neither the seller, nor the buyer, has a legal obligation to actually complete the real-estate transaction.

The Internet is an effective medium for advertising time shares, but has its flaws when it comes to the actual sales transaction. The lack of a binding agreement is an issue.

In most traditional auctions, bidders must bring a cashier's check for the deposit. When that gavel comes down, the buyer is locked in, and the deal closes at a predesignated time.

And for buyers, there's the question of whether the other bidders can be trusted. Bidders are concerned that the bidding isn't real for a time share and many times eBay doesn't provide enough analysis of the properties or allow for sufficient due diligence on them.

EBay has been a particularly effective marketplace for vacation time shares, likely because their price tags are much lower than for family homes, lessening the financial risk for buyers. For example, a one-week time share near Carnegie Hall in New York City recently was going for $10,000. In the past, time shares were marketed mostly through seasonal industry publications. Time share owners can literally list a timeshare year-round to an audience that approaches eight million on a given day. When you think about it, this is a perfect example of how eBay can bring the power of its marketplace to buyers and sellers who really don't have a better way to connect with one another, as in the case of selling a time share.

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