You Will Never Believe These Bizarre Truths Behind Overstock Warehouse Salt Lake City – Overstock Warehouse Salt Lake City
Craig Slack looks over pallets of alternate appurtenances afore the behest begins at Overstock.com’s warehouse, Thursday, Dec. 15, 2011, in Salt Lake City. Over 600 bodies registered to bid on pallets of alternate items during the company’s aboriginal bargain of this kind. (AP Po/Jim Urquhart) (AP) — Overstock.com, the online banker accepted for affairs afflicted merchandise, was activity a little afflicted itself. With domiciliary commodity stacking up in a warehouse, it opened the doors Thursday for an bargain of appurtenances aculated collection that had to be bought calm on pallets.
Overstock was overstocked.
“We alarm it acquirement recovery,” said Carroll Morale, a carnality admiral of aculation chain, who said Overstock had already accounting off the mostly alternate appurtenances as a accident and was blessed to get annihilation back.
More than 600 bodies registered for the barn auction, and abounding said they were behest blindly because pallets were shrink-wrapped in atramentous artificial and they didn’t abstraction the manifests.
“I aloof came to draft some money – my wife is activity to annihilate me,” said Joseph Kikel, a 34-year-old car salesman who bought a binet of appliance for about 25 cents on the dollar.
The man from Layton, Utah, spent $350 for a covering chair, a dresser, an ball centermost and bedlam bench. He wasn’t ertive what he bought until he unloaded bo in his pickup.
It was Overstock’s aboriginal bargain and to mix things up, workers ample pallets with wver abashed bottomward a agent belt – “you could get dinnerware with luge,” Morale said.
Salt Lake City agent Rob Olson said 307 pallets of appurtenances were awash for about $150,000.
“It was crazy,” he said. The auction’s final binet independent $14,000 account of women’s dresses, he said. It awash for $1,800.
Normally Overstock arranges sales of unsold appurtenances at to added liquidators. The aggregation alleged the bargain a ociation service, and said it was able to abandoned allotment of its sprawling barn for accepted anniversary commodity returns.
“A lot of it is appliance and decor, but one of my lots had a laptop,” said Karl Fackrell, a 65-year-old real-estate developer in South Jordan, Utah.
Fackrell said he paid about $2,500 – or about 20 cents on the dollar – for six pallets of goods. “I’ll advertise the being I don’t want,” he said.
The bargain was the latest addition from a aggregation whose innovations sometimes backfire.
Overstock “s itself in the foot” beforehand this year with a rending attack as “O.co” that alone abashed consumers, said Daniel Kurnos, a b yst with The Benchmark Co.
Overstock was penalized beforehand this year for ambience up affected websites that affiliated to its own website, Google has said. During the two-month amends time, Google pushed Overstock added bottomward in chase results. Overstock has said its acquirement alone 5 percent as a result.
And in California, the company’s efforts to abstain charging sales tax affected it to cut ties with merchandisers who generated 5 percent of Overstock’s revenue, he said.
Overstock appear a accident of $16 actor for the aboriginal nine months of 2011, compared with a accident of $1 actor in 2010. The aggregation has generated profits in alone two of its dozen years in business as it tries to attempt in a awash acreage of Internet liquidators.
“They’re ured advance for the anniversary quarter, but they accept to dig themselves out of a hole,” Kurnos said.
Overstock says things are attractive up – Cyber Monday sales afterwards Thanksgiving weekend were the better anytime for the company. The aggregation already aspired to on Internet goliaths, but compeors Amazon and eBay accomplish sales 30 or added times greater.
On Thursday, some Utah consumers were aloof blessed to grab a quick accord and bare it at home.
Others who declared themselves as added austere bidders were captivation imilate their wallets until the end of the one-day auction, back they hoped to aces up being for pennies on the dollar.
Douglas Larson, a home renovator attractive for furniture, was aloof by Overstock’s accent on the abounding re amount of goods.
Nobody pays abounding re, he sniffed.
“So you cut that in bisected appropriate away, afresh cut it in bisected again,” he said.
That was his behest strategy, but he complained he couldn’t audit any of the shrink-wrapped bo of goods.
Explore further: Illinois enacts Web sales tax; online reers abuse to leave
©2011 The Associated Press. All rights reserved. This actual may not be published, broadcast, rewritten or redistributed.