Overstock.com CEO Patrick Byrne brags about the sites increased Sell Through Rates on a post titled Sell-Through-Rates, claiming an increase of 21% over the past few weeks.
Within the post Patrick states "I believe (but want to be corrected if I am wrong) that this is now slighly above eBay's".
The next paragraph continues Patrick's recent request for eBay site users to spread the "Word" among the eBay buying community.
Perhaps a little reminder about Overstock Auctions history is in order for Mr. Byrne.
Imagine the summer of 2004. The "Word" is project Ocean and it is a top secret venture by Overstock.com into the auction business "Taking on the Big Boys".
"Word" spread and sellers appeared with their customers, listing like mad on a fledgling site where the Customer service was superior to eBay's, fees were cheaper, and the CEO interacted with site users on the message boards.
Sound Familiar!
Fast forward to present day. Customer service is available only by email, subscription listing plans are a fairytale, and the CEO is on the site message boards.
While Sell Through Rates are increasing on the site, there has been no mention of GMV, or the high percentage of failed transactions caused by NPB's.
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