Just saw an article in a recent issue of EcommerceBytes that discusses a new online auction site that will be online soon to compete against eBay. It's being developed by a subsidiary of Alibaba and will be called 11Main.com

The Chinese ecommerce company Alibaba had acquired eBay listing tools Auctiva and Vendio in 2010 so they'll have a good headstart on getting things rolling. Selling fees are supposedly only 3.5% with a $50 cap. Should be interesting.

Here's a link to the article that broke the news
http://www.ecommercebytes.com/cab/abn/y14/m02/i10/s01