Overstock Auctions drives $30 million in merchandise sales in first year
Overstock.com’s auction business has driven gross merchandise sales of nearly $30 million, the company reported today in marking the first full year of operation of Overstock.com’s Auctions.
“We are thrilled with our progress to date,” says Holly MacDonald-Korth, senior vice president at Overstock.com. “We have had 40 times the listings and 16 times the uses that eBay had at this age.” The numbers, she adds, “have laid the foundation for a high growth marketplace and helped establish us as a serious competitor.”
Auctions.Overstock.com has had more than 11 million unique listings and more than 500,000 registered users in its first year, according to the company. The company has positioned itself against category leader eBay with 30% lower listing fees, volume discounts on multiple listings, a simplified listing process and a Trusted Merchant Program in which qualifying sellers are bonded and purchases from Trusted Merchant sellers are guaranteed up to $25,000.
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