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Auctionbytes-NewsFlash, Number 1440 - December 28, 2006 - ISSN 1539-5065
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Overstock.com Adds Car Listings
By Ina Steiner
AuctionBytes.com
December 28, 2006
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Visitors to Overstock.com may now shop for cars and trucks in addition to bedding, books and electronics. Starting this month, car dealers are listing automobiles in a special section at http://cars.overstock.com, also accessible through the "car" tab on Overstock.com website pages.
Overstock built the auto site in collaboration with car dealers located in its home state of Utah and is currently beta-testing the site. Overstock.com does not directly sell the vehicles listed. Shoppers have three options when they find a match: they may accept the dealer's lot price, make an offer, or ask the dealer a question. An offer or acceptance of the lot price on a vehicle is non-binding. Overstock plans to launch additional features to the site, such as side-by-side vehicle comparisons and research using Kelly Blue Book, Edmunds and Carfax.
Overstock.com Chairman and CEO Patrick Byrne invited users to discuss the new site on the discussion boards last week (http://forums.auctions.overstock.com/viewtopic.php?t=16229&sid=73662327534d5113ca703119174a367f).
Overstock launched as a closeout retail site in 1999 and has added an online auction site (http://auctions.overstock.com), a travel site, and has plans to add a "social media" tab. The company recently raised about $40 million in a direct stock offering (http://biz.yahoo.com/prnews/061220/law059.html?.v=90).
http://cars.overstock.com
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