eBay (NASDAQ: EBAY) is stepping out into the world of fashion. While the site has always been a favorite of frugal fashionistas, it has developed an entire section devoted to consumer fashions. The company has added a new ‘Fashion’ tab  to their auction site that leads to the Fashion Vault. The company hopes to improve the services being offered to the sites consumers who want to remain in style but have to do it on a budget.

Once inside the Fashion Vault, visitors will have access to the latest fashion trends, advices from style experts, and the ability to search specifically for types of fashion including what is hot for men and women, vintage clothing, brand names, and other criteria.

eBay approached celebrity stylist Annabel Tollman who dresses the likes of Jessica Simpson and Scarlett Johansson. Tollman, an admitted eBay fan already, stated “The new fashion site is perfect for girls like me who have champagne taste on a lemonade budget.” Tollman is also in good company on the site with other celebrity stylists Estee Stanley, Britt Bardo, Kate Young, and Rebecca Weinberg who offer fashion advice. Fashion trend experts Constance White and Karen Bard are billed as the site’s ‘Experts in Style’ and offer consumer shopping tops and advise through informational articles and video presentations.

eBay is also currently running a beta test for a new iPhone application to compliment the eBay Fashion section. The app will allow users to upload fashion items to sell in no time at all while on the go. Users can also browse the site and add merchandise to their ‘virtual closet’. The items from the closet can be ‘tried on’ a virtual form or the user can download their own pictures for the app. eBay expects the iPhone app to be available to consumers in May.

As shoppers are becoming more aware of the options for clothing and other fashion based on their budget, eBay’s Fashion Vault makes it easier for consumers to find exactly what they are looking for at the right price for their wallets. With the added benefit of celebrity stylists and fashion experts, budget-conscious shoppers will likely take advantage of eBay’s new offering.