The online auction platform at Overstock.com, Inc. (NASDAQ:OSTK) is offering 50% off its insertion fees for items listed between Monday, February 18 at 12:01 p.m. (MST) and Monday, February 25 at 12:01 p.m. (MST). The promotion coincides with a protest organized by a group of eBay customers who are dissatisfied with eBay's recent hike in selling fees and who are encouraging a boycott of the eBay site during that week.
"Our promotion happens to fall during the same week that an eBay boycott was planned. While we didn't arrange our promotion in response to that particular boycott, we did notice that there are often strike plans. Auction customers are trying to tell eBay something. We overheard and we are responding to their persistent requests for low selling fees," said Overstock.com Chairman and CEO, Patrick Byrne.
"The temporary fee reduction is designed to encourage new traffic to Overstock.com's auction site where people can discover the ways we distinguish ourselves from our competitors," said Overstock.com Director of Auctions, Meghan Tuohig.
Among the advantages of the Overstock.com auction site are fees that normally are lower than those of major competitors, a robust message board, sense of community, and a soft close that extends auctions each time a bid is received within 10 minutes of the scheduled end. Since eBay has announced the new changes, Overstock.com Auctions has seen a 35% increase in the number of active sellers.
The listing fees for the February 18 - 25 Overstock.com promotion are:
Start Price Normal Promotion
$0.01-$0.99 $0.10 $0.05
$1.00-$9.99 $0.20 $0.10
$10.00-$24.99 $0.40 $0.20
$25.00-$49.99 $0.75 $0.38
$50.00-$199.99 $1.55 $0.78
$200.00-$499.99 $2.35 $1.18
$500.00+ $3.15 $1.58
For more details regarding the Overstock.com promotion, visit: http://auctions.overstock.com/cgi-bin/auctions.cgi?PAGE=static&pagenum=333536
Overstock.com, Inc. is an online "closeout" retailer offering discount, brand-name merchandise for sale over the Internet. The company offers its customers an opportunity to shop for bargains conveniently, while offering its suppliers an alternative inventory liquidation distribution channel. Overstock.com, headquartered in Salt Lake City, is a publicly traded company
listed on the NASDAQ Global Market System and can be found online at http://www.overstock.com/.