12-09-2006, 09:45 PM
Overstock has done an amazing job of killing off their auction site this month. First they made one of the dumbest decisions ever made in the OAI by requiring that "make it mine" price be twice the opening bid, and now they have dealt a crippling blow to volume sellers (defined as anyone who lists more than 300 items).Â
Bye bye Overstock
related topic:
Overstock Loses Its boinking Mind: Requires 'Make It Mine' Price to be 2X Opening Bid
http://community.tuliptools.com/index.ph...112.0.html
Bye bye Overstock
Quote:Greetings Sellers,
I write to inform you of a change we're making in O-Subscriptions.
As you know, various subscription plans have been available to the selling community since March of this year. Since implementation, our average starting price per auction has increased dramatically. We are confident that this resulted from the fact that the subscription's blanket payment causes sellers to lose their incentive to offer low starting prices. While subscriptions with listings less than 300 have a sell-through rate of 7% or more, those over 300 sell-through at a drastically lower rate. As our percentage of closed auctions dropped, sadly, quite a few small merchants (often those with the highest sell-through rates) got lost in the mix and decided to leave us.
As Patrick discussed in a recent message board posting, we need to restructure the O-Subscriptions, and have attempted to do so while keeping an eye on the aspects of our program that you say brings you value.
Although all sellers are still welcome to list unlimited items, effective December 13, 2006 top tier subscription plans (those higher than 300 concurrent listings) will be unavailable. If you are a current subscriber to plans 5-10, your plan will expire on or before December 31 and your account will be credited for the unused portion. If you're interested in participating in plans 1, 2, 3, or 4, please email sellershotline@overstock.com.
I understand that recent site changes may be frustrating. Again, I remind you that our goal is to build a successful auction site that provides our customers a safe, simple and satisfying experience. We believe that allowing some sellers to list countless thousands of auctions with unrealistic starting prices, and correspondingly miniscule sell-through rates, benefits neither large sellers, nor small sellers, nor bidders, nor Overstock. Therefore, we trust you understand this decision.
If you have any questions, please send them to sellershotline@overstock.com. Again, we're grateful for your continued support, and I wish you the best this Holiday Season.
Respectfully,
Stormy Simon
related topic:
Overstock Loses Its boinking Mind: Requires 'Make It Mine' Price to be 2X Opening Bid
http://community.tuliptools.com/index.ph...112.0.html