What is eFence?

The word "fence," despite its various meanings and whether it's a noun or a verb, has one main root -- the shortening of "defense." The fences people build around their homes provide a defense from outside intruders and allow enclosure. So a fence's job is fairly straightforward: Steal or buy a popular item for a significantly reduced price and then sell the item in order to make money. In the physical world, much of this activity goes on at pawn shops and flea markets. A fence can steal something from a store and bring it into a pawn shop and, if he remains above suspicion, walk out with a handful of cash and a big profit.
But in the cyber world fence has a different meaning: Steal or buy a popular item for a significantly reduced price and then sell the item on Internet, typically on online auction sites or classifieds like eBay and amazon. A thief steals something from a store, posts the item on the Internet and sells it to unsuspecting bidders, making money in the process.

The driving force

The main drivin force behind the eFencing are following:

1. Location: The Internet is accessible from anywhere. More importantly, the identity of the eFence is either vague or completely secret. eFences remain largely anonymous when dealing over the Internet.

2.Customer Base: eFences can find large, diverse groups of people looking to buy over the Internet. On top of all of this, setting up fences over the Internet is more lucrative: Internet buyers pay about 70 cents on the dollar for goods sold online, much higher than the return in a physical setting.

Source:howstuffWorks