AuctionBytes Blog
Covering auctions, collectibles and marketplace selling.

AuctionBytes Blog The AuctionBytes Blog has been giving a voice to online merchants since its launch in 2005. Named one of the world's top 30 blogs in 2008 by "Blogging Heroes." Weigh in with your thoughts on the joys and pitfalls of selling online.
Thu Jan 10 2008 21:37:03

Overstock's Patrick Byrne Is Happy with Auction Experiment

By: Ina Steiner

Sponsored Link

Overstock.com CEO Patrick Byrne congratulated the Overstock Auctions community, writing on a company discussion board, "you made it." He said the experimental "alternative to eBay" paid for itself in 2007 with "even left a few sheckles over." But don't expect to learn what kind of success Overstock Auctions was in dollars and cents - the company stopped reporting auction gross merchandise volume in 2007 because it was not significant enough to report on its own, and the company now lumps it in with fulfillment partner revenue.

Overstock Auctions made deep cuts in its cost structure, he said, including reducing the pay of its staff. Byrne wrote, "Auctions has gone from a costly experiment to, finally, a fine little business for us," he wrote on his blog, adding, "And, I hope, for you."

Byrne also announced he was closing the section of the boards devoted to his writing called "Take 5 with Patrick." Instead, he has launched a blog called "DeepCapture.com" housed on the Overstock.com site under the Community tab. Byrne said the blog "develops a series of arguments concerning corruption on Wall Street, DC, and in the major institutions of our society, including the financial press." Byrne has even added a section of the site to describe his ongoing battle against naked short selling, with links on the bottom of the Overstock.com pages.




Comments (1) | Permalink

Readers Comments

Overstock's Patrick Byrne Is Happy with Auction Experiment   Overstock's Patrick Byrne Is Happy with Auction Experiment

by: Randy Smythe

Thu Jan 10 22:37:49 2008

Mr. Byrne needs to borrow my "Tin Hat" :)

Good to see that Overstock Auctions are profitable. Sellers may be able to get incremental sales from the platform.



Login is required to post comments.
To sign in to leave a comment using your AB Verify User Name, fill in the form below. If you have not yet signed up for AB Verify, or if you'd like more information, go to the Registration Page
.

Login for AB Verify
Be sure and use your email address and password to log in.

 
Email:
Password:
 
 Forgot Your Password?
 Even though you are signed in with the AuctionBytes Blog, you will have to sign in to the EcommerceBytes blog. But you can sign in with your existing AB Verify info.