11-27-2006 Overstock.com Auctions has Implemented a new Make It Mine Policy: "Effective Immediately , the Make it Mine price must be two times the starting price. For example: Starting price - $15.00. Make it Mine- $30.00. Is it possible Overstock.com has just enacted a policy that will cause Federal Regulation of the Online Auction Industry? See the email in full here http://auctions.overstock.com/cgi-bin/auctions.cgi?PAGE=static&pagenum=148534
Implementing such a policy could remove all possibility of the "Just a Venue" claim online auction sites have used for years to avoid regulation. Can such a policy be the downfall of online auction sites as we know them?
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