Recent news that Fairfax may float part of the Trade Me business they acquired in 2006 has led some Internet commentators to speculate the auction giant may now be worth much less than the NZ$750 million they paid in 2006.

Unlikely.

Online auctions may be yesterday's news, but in a "Web 2.0" Internet where many ventures remain cool but wildly unprofitable, Trade Me continues to truck on and generate upward of NZ$80 million per year in earnings for Fairfax - and growing.