Overstocked and Underauctioned, Part One
On February 20th, Overstock.com CEO Patrick Byrne posted a bold message on the Overstock auction message board.
“THE MOMENT TO STRIKE,” Bryne’s message began, noting the February 18 eBay fee increases and the opportunities these offered to grow Overstock.com listings. Bryne noted that Overstock’s auction listings had soared from 50,000 to 90,000 in just the two days since eBay shot itself in the foot by annoying its members and doing exactly what low-cost retail operators never do: raise prices.
Since a full month has now elapsed since both the eBay move and Byrne’s clarion call to his auction members, we now have some data to assess the impact of Byrne’s call to action, and in ensuing posts will take a closer look at the results.
Suffice it to say, it does not appear at this point that eBay has anything to worry about from Overstock.com Auctions.
Jeff Matthews I’m Not Making This Up
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