Ebay's purpose is primarily to allow people to host their own auctions and sell their own possessions. Its target audience is pretty much anybody and everybody with anything to sell.
Due to the fact that its an auction, people bid using various payment programs (i.e paypal) and when the time is up, the highest bidder wins. Also, an optional choice of the auctioner you can buy now, with a price set by the auctioner and a person can choose to either buy it now, or bid for it.
It is limited due to scamming and such things, however it is entirely the risk of the bidder to bid if they think it is a shady auction. However, the benifits is that chances are, you could find anything on ebay, as it isn't just one supplier providing the items, it is anyone in the world.
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