Byrne's Logic similar to eBay's Math

In another interesting turn of events Overstock.com CEO Patrick Byrne has posted some interesting comments in response to site users.

According to Patrick's Logic "The sad truth is, we now have about 5 times as many page views/auction as we did a year ago, a number that (I believe) runs about 60% of eBay's page views/auction". According to the Alexa stats for Overstock there are actually less page views per item today than there were a year ago. While it is possible that Alexa stats would vary from Overstock's internal metrics it is highly unlikely that one would show a drop in views while the other shows a 5x increase.

Another comparison Patrick makes is "2/3 of our sellers do not use subscription plans anyway. They list about 5% of our auctions, but for 2006 their auctions had a closing rate of 30.6%. I believe that rate is roughly comparable to eBay's". While we cannot Terapeak nor Hammertap Overstock DATA, actual sellers confirm Overstock is no Comparison to eBay in Sell through rates, or closing values.

To sum up Patrick's Logic "Yes, we love our Enterprise Merchants. But in general, the changes we have instituted are overwhelmingly in favor of the smallest sellers. They are getting 30.6% closing rates. We are trying to make you all like them"

So small business owners there you have it! Overstock wishes to make your business like that of a fictional character left unnamed, yet heavily promoted.