Start-up hopes to outdo eBay with online market! Will it work?  

Wigix Chief Executive James Chong is nothing if not ambitious: he thinks he's got the recipe for an Internet marketplace that will rival eBay.

Chong, who was the architect of Charles Schwab's online trading platform, believes eBay's design is best suited to auctions of collectible, one-off items. But for those buying Sony PlayStations, digital cameras, or other mass-manufactured items, he thinks Wigix--"Want It Got It Exchange"--has the better approach.

Wigix plans to launch the public beta of its online trading system on Tuesday and fully launch by the fall. It uses a Nasdaq-style price-matching mechanism: sellers and buyers can list their desired prices for a particular item, and the system will notify people when they have matching orders. Wigix also sells ads that can be targeted for the various categories and products on display.

Do you think this new site will be as big as ebay? Will it work? Is it something that will interest you?

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