Overstock's returned-merchandise auction opens at 10 a.m.

Published January 30, 2012 12:06 pm
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Overstock.com, the online discount retailer, on Tuesday will stage another auction of its returned merchandise that will be open to the public.

The Salt Lake City-based company said 300 or so pallets of merchandise will be auctioned, beginning at 10 a.m. at 1790 S. 4800 West, Suite B, in Salt Lake City.

Bidders were able to preview the pallets until 4 p.m. Monday. Although the pallets are shrink wrapped, manifests of the contents will be attached to each lot. Manifests also are available for bidders to view at http://www.salesandauction.com.

"Normally, we arrange sales of returned goods to professional liquidators," company president Jonathan Johnson, said in a statement. "However, we think [the auctions] provide a real opportunity for local entrepreneurs."

Those who want to bid can register at the auction Tuesday.

More than 600 potential bidders registered for a similar auction conducted in December.

It generated in excess of $150,000 for Overstock.com, with the average price paid for a pallet at around $500. The most expensive pallet, which was stacked with boxes of women's dresses, sold for $1,800, while the least expensive sold for $250. It was stacked with housewares.



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