Swan and JD didn't seem to know what he was talking about and Swan answered about GSI and then JD added this interesting tidbit:
One of the interesting things is we mentioned earlier that top-rated sellers represent almost 45% of the GMV on the U.S. site now, U.S. eBay site. And most of our top-rated sellers are reasonably sized businesspeople, and they're not looking for fulfillment support. They actually feel like they've got their fulfillment capabilities and shipping abilities up to retail standard. So it's not a loud crying need we feel with the fastest-growing segment of the eBay seller base.
Which should put to bed all the rumors that they acquired GSI for the fulfillment capabilities to compete with FBA.
Large Merchant Program
Interestingly they really played down the large merchant program and highlighted the Coach Factory Outlet deal which was really a coupon and not a true large merchant deal.
They did discuss the eBay Factory Outlet which was good to hear.
One of the more popular features we publish is the detailed category information which you can see in this chart (click to enlarge).
As you can see the Coin category continues to do very well due to the demand for Gold and other precious metals. I haven't seen any press on this, but eBay has even opened a bullion center to make it easier to buy gold which you can checkout here: http://goldandsilver.ebay.com/gold (Hey if you put your life savings into this, you get a free coin - eTRS!).
Sometimes when eBay publishes results, everyone on Wall St. gets excited and upgrades the stock, etc. (bullish), other times they are very upset with the results and turn Bearish. This time there was an interesting mix of opinions and I wanted to share some highlights that are applicable to sellers.