Question
We have been selling on eBay for nearly 50 years...internet years. An old PBS series on the history of the PC and the Internet described Internet years as being similar to dog years (1 year = 7 dog years).
Since the beginning, we have always considered the risks of putting our eggs in one auction basket (eBay). With regard to auction features, we actually thought Yahoo's auctions (early onsale.com) were as good or better than eBay's. Yahoo could have competed, but several years ago when eBay did its radio blitz, Yahoo did nothing to promote their auctions. I remember wanting a second auction source then, and thought "this is the time for one to emerge". We went ahead and listed on Yahoo anyway, supporting that second source. We were hoping that the sleeping giant would awake. Wow, talk about non-paying bidders. Our experience was that 1/2 of the customers on Yahoo did not pay. And then try sending Yahoo Auction customer service an email. Talk about sending a message into deep space (ref Craigslist ads being sent into deep space - todays news):
http://www.mercurynews.com/mld/mercurynews/business/technology/11021540.htm
Several years later, we still have not heard back from Yahoo Auction customer service.
In a recent article and in reference to Overstock.com trying to promote their auction business, The Motley Fool states "Yahoo! and Amazon.com seem to be burying theirs (auctions) in a silent bow to eBay's superiority." That confirms I probably won't be getting an answer to that email I sent Yahoo Auction customer service. The rest of that Motley Fool article can be read at:
http://www.fool.com/News/mft/2005/mft05022802.htm
It also says "it's refreshing to see Overstock -- a winning pick for our Rule Breakers newsletter service -- get lively with its auctioning space".
We have no affiliation with Overstock.com. However, like many sellers, we realize the recent eBay fee hikes were only a sign of things to come. What's to stop them from raising rates in the future? Nothing, except competition. And if not competition then the FTC, but we will be long gone before then. One thing we like about Overstock is they are reaching out to eBay sellers. Unlike Yahoo, they want our business. When you compare Overstocks rates to eBay's (www.auctionfeecharts.com), they are less, and significantly less in some areas. Though are they reduced enough to justify selling there? Or is it worth paying more to eBay to have a huge customer base? Well, our answers are "probably no" and "probably yes". No, Overstock's rates are not low enough for us to sell there full time... and Yes, eBay's customer base (and tools) will likely provide a better price that will offset the fee variation. But with that said, we still registered on Overstock.com and will list at least a few items there. It's more effective than any petition, and if there is a possibilty of a second source, then we may have to help that happen. We believe Overstock can not do it alone and can ONLY do it with the help of sellers. It's not that we want to make Overstock owners billionaires, but basically you have a web site that is nearly in the top 150 alexa.com rankings of English speaking sites. There are no other possibilities in the top sites, other than amazon and yahoo, which the Motley Fool describes as "bowing". When we list on Overstock, we are not expecting a price greater than what we may be able to realize on eBay (we will in the near future though). But there is currently a window of time to develop a competitor to eBay. Overstock is doing its part by cranking up its marketing and enhancing its features. As sellers, we can help ourselves but supporting this second source. Show eBay the power of the seller. You do not have to move over everything. Just move over some things. Give Overstock a chance to bring in buyers. It is a little like the chicken or the egg. We do not want to sell there if there is a smaller customer base, but if Overstock had millions of items then there would be a huge customer base. With auction sellers and Overstock working together, a second source becomes a reality.
As sellers and to our benefit, we want and need two healthy viable choices...eBay and ?. Hopefully, it is Overstock. If we let this opportunity go, then there is nothing to keep eBay fees in check. If we can help create a second source, the competion will create an environment in which fees are fair and the seller has a real voice.
Regards,
AM
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overstock SUCKS.......
they spam me with crap and won't let me sell on their site
I hope they crash 'n burn
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Great opening post.
Lots of good background and also up to date information including Craigslist jumping ahead of eBay into Intergalactical marketing.
But I don't like Overstock Auctions.
They are just a blip on the screen with about 100,000 listings compared to 14,000,0000 on eBay, not counting eBay Store listings.
A search term I use shows about 18,000 eBay listings and 48 on O. All but two of the O listings are duplicates from an eBay seller.
I don't like the promotions on O. The social network of "friends" is really annoying, I had endless problems with listings, traffic is low and sales are few and far between.
Even with lower fees the cost of selling is higher because of low sell through and resulting relisting fees not to mention the time drain of selling on a second venue.
The most recent email from O annoyed me even further because it asked we contact/spam our customers and ask they visit the site and suggested this was our one big chance to make a difference.
A now or never attitude does not provide much hope for long term development and their commitment to staying the course.
I'm sure I could add more issues that concern me and I'm also certain others can also add to the list but I've said enough that I think my feelings are clear.
Given all of the above I still agree with your conclusion that we should support their efforts in some way.
I doubt there will be any single site that develops as competition to eBay in the near future (unless Google or MS expand into sites to compliment their search engines) but an array of niche site are growing that will, collectively, offer competition and alternatives to eBay.
O might become a viable alternative for some seller even with all of their problems. History certainly shows us that site like PayPal made it in spite of many, many mistakes.
I don't understand the neglect YAHOO has shown it's auction site while developing productive Stores. I have to wonder if there was a gentleman's agreement that they would let their efforts in North American and Europe languish when eBay pulled out of Japan.
Amazon is productive for some sellers, Ioffer and Bidville have fans, very focused niche sites are building a following, websites are sprouting everywhere and Online Mall are developing combined marketing for associate sites.
I'm sure I've missed mentioning some productive venues but the overall message is clear. Seller are seeking and finding alternatives. It may be slow and sometimes painful but it is happening.
Search engines are making the offering of unique items easier on sites other than eBay.
The advantages that attracted buyer of selection and price are disappearing from eBay.
Buyers are willing to look elsewhere. The increased cost of doing business, high s/h fees, poor customer service and concerns over fraud are taking their toll.
While eBay will continue and will grow, the combined alternative sites will see rapid expansion and more profitability for sellers.
So I will make some small effort to support O, clearly not because I like them, but to encourage any effort being tried to expand the alternative marketplace, support their corporate efforts to give it a try, hold on to a very minor hope that they might eventually get it right and, most importantly, send a message to eBay that we won't give up in seeking fair and equitable business relationships.
If we continue to express our demands for a better marketplace someone will see the business opportunity and fill the need.
So I see this type of effort, supporting O, as an investment in my own future. At the same time it cause pressure on eBay to re-evaluate it's relationship with the sellers, which can only help our efforts.
Any support I provide will be motivated by nothing more than selfish self interest.
I encourage you to find an opportunity to do the same for yourself.
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but we could change "overstock" in that first post to any other venue and still have the same idea
we all need to support another venue or two, of course us sellers have known that for years, but it is convincing buyers to support other venues.
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I don't sell on the O but did hear an advertisement today for them and that's refreshing...
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Having looked at overstock, I didn't see a good place for a novice seller, like myself, to begin at.
Sure competition is higher at eBay but more chances to sell.
I also have seen the ads for overstock, but no mention of auctions.