I would like to use Scene7 to automatically remove white space on an image and then crop the image. Here is an example image. Lets say that my website has a black background -- would it be possible to remove the white around the image similar to the magic want tool in Photoshop?
Basicly you can turn everythig into a semi-transparent look. But it takes a bit more effort as just using the magic wand tool. Your example is one of the worst nightmares when it comes to do "semi-transparent" work: Glass, bright highlights on bright/white background.
To say it short:
Yes, you can do it in Photoshop
Yes, it will be a lot of work to make it look right
But know, that this image was shot with a setup fitted for a bright background and it will not look as good when there is a dark background. Plus, the darker the background, the more procise and cleaner you have to work, otherwise it will look aweful.
As a product image on a website, I would'n bother the big, tedious work and would better think about a solution of embedding bright images against a dark background.