04-02-2007, 04:07 PM
Quote:Hello Overstock.com Auctions Users,
We are certain that the strategic decisions made in the past several months have produced major improvements in the Overstock.com Auctions marketplace. As the first quarter of 2007 comes to an end, Id like to take a moment to highlight the progress that has been made since the beginning of the year:
Subscription plan elimination As I mentioned in a previous post, we have witnessed a site transformation since removing O-Subscriptions. Sell-through rates and average sales prices are higher than ever before, and buyers are no longer forced to sort through hundreds of thousands of unreasonably priced items. Again, we couldnt be more delighted with the results of this change.
Behind-the-scene improvements Our team has also been busy making improvements to the Auction platform that are less noticeable externally, but very evident from within the company. Since January, we have released a new customer care tool, a more robust fraud prevention application, and we have modified the configuration of the sites technological infrastructure.
1-day auctions We will be releasing this feature on Wednesday, April 4th. These auctions will function as they did in the past; however, the shorter listing duration will only be available to sellers with a rating of 10 or more and who have been verified for at least 90 days.
Bid cancellation and Classifieds - We underestimated the scope of these projects. Though we thought we were on track for a first quarter release, the launch of these two features will be delayed due the time necessary to iron out the glitches in the code.
The recent changes have all been made with you, our customer, in mind. Were confident that Overstock.com Auctions is now a more secure, customer-friendly auction venue with a higher quality of item selection than ever before. We are back on the right track and we look forward to demonstrating our commitment to you throughout the next three quarters of 2007.
Now, I am pleased to announce exciting news regarding listing and closing fee adjustments. To facilitate the success of your selling business, on April 10th, Overstock.com Auctions will be reducing auction insertion and closing fees. We recognize that our success is ultimately determined by the ability to grow your bottom line. To help improve your margins and to simplify the costs involved with listing and selling here, sellers will be charged according to the following schedules:
Full announcement with new fee schedules: http://forums.auctions.overstock.com/vie...hp?t=16995
Quote:Listing fee decreases range from zero to 7 cents, depending on the starting price. For example, for items with a starting price of less than one dollar, listing fees will go from 17 cents to 10 cents. Closing (commission) fees will also be lowered, with the first tier commission (for items selling for between one cent and $25) going from 3.25 percent to 3 percent...
Overstock is now struggling to find a balance between keeping costs low and retaining sellers, a problem that escalated since it eliminated subscription-pricing programs and abandoned its storefront development...
full article: http://www.auctionbytes.com/cab/abn/y07/m04/i02/s01
