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On the heels of eBay's announcement last week of increased fees in stores and certain features, several of the auction giant's competitors have seized on the opportunity to lure unhappy eBay sellers to their own online venues.
Overstock Auctions said it had experienced a 50% increase in auction listings since eBay announced increases in its fees for Stores scheduled to take effect February 18. It did not reply to inquiries about the actual number of listings it currently has.
Further capitalizing on the growing unreset over eBay fees, Overstock Auctions said it will reduce its listing fees by 52% from February 18 to March 18. It will also give each person who visits or registers with Overstock.com Auctions on the day eBay's new fee structure takes effect a $10 credit toward Overstock.com Auctions listing fees.
LiveDeal, an online classifieds marketplace, reported an increase of 25% in listings since last week. It also issued statistics about its growth in the past year as it ramped up operations. In January, the site had 120,00 unique listings and 150,000 sellers. An announcement read, "In just the fourth quarter of 2004 alone, LiveDeal saw a 94 percent growth in active items. A significant portion of this rapid growth is being driven by the site's fast-growing Super Seller community."
A representative for OnlineAuction.com, a new auction site, said, "We have seen our registered users quadruple in the last week."
uBid also said it hoped to attract eBay sellers with its revamped Certified Merchant (UCM) program. The program is not geared to individuals, but according to a spokesperson, "it has appealed strongly to eBay PowerSellers."
uBid has 100 UCM vendors and are looking to increase it dramatically. "Two weeks ago we attended the Consumer Electronics Show with the intent of finding new vendors," said Mika Leibovich, uBid's Marketing Communications Manager. "By the end of the show, we had 239 people/vendors request more information on selling on uBid."
uBid said it will waive the $99 processing fee for users who type "FightFees" in the Comments Field on applications received by February 18, 2005.
How many sellers might reduce listings or close their eBay Stores is impossible to say, whether it is a significant percentage or a drop in the bucket for eBay. But the trend of sellers exploring other venues as an expansion of their eBay sales or as an alternative is likely to continue.
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