GMKT running on G-force!!!!!!

GMKT closed @ $25.93 . Cramer calls GMKT the 'Ebay of Korea'.

Gmarket (GMKT) is a Korean auctions site that is growing at an exponential pace. It is beating Ebay's Korean subsiduary in visitor count even though GMKT only started in 2003. GMKT seems to be an exciting place to do business. Visit their website and you'll know at least what i'm talking about.

I have no doubt that ebay will lose in that country. Ebay is just too restrictive, while GMKT offers everything both sellers and buyers like. For example:

'Gmarket's business model places less emphasis on an open auction format than eBay's. The company offers goods that one can order at fixed prices, with an option to negotiate prices with a seller on an exclusive basis. This allows buyers to conclude deals instantly instead of requiring them to wait until all bids are completed in open auctions. That option is available on eBay as well, but at Gmarket open-bidding auctions account for less than 10% of overall sales volume.'

http://gmarket.tistory.com/7

'One such marketing program is a lottery called "lucky auction." It gives buyers chances to buy everything from LCD televisions to T-shirts at a fraction of the market value. A seller promoting an MP3 player, for example, invites consumers to bid for two of them within a given price range—usually less than 10% of the retail price. Then Gmarket's computer picks two bids at random to decide the winners. Others visitors can buy the MP3 player at a special offer price. The seller attracts consumers, while Gmarket happily hauls in commissions.'

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That sounds like fun to me!!! lol

GMKT plans to expand into Japan (where Ebay failed miserably) in 2007, and then eventually into the U.S.

Intermediate to longer term play.

Wait for a dip for entry.