Win 100 iconic DVDs
You can’t miss this new retail phenomenon in LA. From Santa Monica to Pasadena, bricks-and-mortar stores devoted to selling other people’s stuff on eBay are opening quicker than you can place an online bid. These eBay “drop shops”, with names such as AuctionWagon and AuctionDrop, want a slice of an online marketplace that sold $24 billion of goods last year. Such numbers mean that Amy Weintraub - who bought the LA franchise rights from the iSold It chain - is not too bothered by the competition. By charging sellers 30 per cent commission, she believes she can take her current two stores profitably up to 20.
“LA is quite a service town,” Weintraub explains. “Busy people will pay for the service. And our reputation as a ‘Power Seller’ means they can feel good about doing business through us.”
These drop shops have now started arriving in Britain. SellStuffEasy, based in Dalston, East London, recently sold a £7,000 fitted kitchen, and has since been offering a Miele dishwasher and a Liebherr fridge freezer (which was seeking offers over 99p when we last checked). More ambitiously, Auctioning4U, which opened its first shop last January in Hammersmith, West London, was this week due to open its third, in Kew. “We’ve got one coming in North London by the end of the year, and we plan to open one a month after that,” explains Christian Braun, 36, the venture capitalist behind the chain. “This business doesn’t work unless you have 30 or 40 stores.”
Braun’s conviction that there is a market stems from personal experience. “My wife and I cleared our house, and offered around 200 items on eBay,” he says. “It was very painful - you have to reply to e-mails all day, count the pieces in your jigsaw puzzles, then wrap everything. We worked out that it took two-and-a-half hours per item. If you don’t value your time, that’s fine.”
Auctioning4U’s strength, he says, is its specialist knowledge that has brought in £330 for a Vivienne Westwood jacket and £1,400 for a 1938 bottle of whisky. Still, the 33 per cent commission seems steep. Doesn’t that limit the business’s appeal? “Absolutely not,” Braun insists. “People come to us because they’re time-poor or don’t have a PC. Or maybe they don’t want the world to know they’re using eBay.”
Should someone tell Cherie Blair?
Industry sectors news at a glance. Interactive heatmap, video and podcast
Everything the Business Traveller needs to know to make a better trip
Get ready for the winter sports season, with our resort guides and snow reports
We are backing British business, what is the confidence of the nation and what businesses are succeeding?
Growing demand for energy, oil that is harder to reach and the rise of carbon dioxide emissions. We examine the energy challenge
Enjoy further reading from Travel to Fashion, Business to Sport, discover more
Shortcuts to help you find sections and articles
36-month car lease
on contract hire for
£359.99 plus VAT pm
12 months for the price of 11 and a 5% discount.
Offer ends 31/11/09
The UK's leading alternative to showroom finance.
Finance packages tailored to your needs.
Minimum loan of £15,000
Car Insurance
c£100,000 + car, bonus & bens
Lord Search & Selection
Midlands
Competitive salary + NHS pens
The Council for Healthcare Regulatory Excellence (CHRE)
London
Not Specified
The Sheppard Trust
London
£31,842 – £38,378pa
Charity Commision
London, Liverpool or Taunton
Moments from Battersea Park.
For sale with Winkworth.
See your free Experian credit report beforehand
Book now & save over £100pp.
11 cool resorts, lowest prices... Early Booking offers 15 Nov.
20% off selected Azores holidays taken in October with Sunvil Discovery
Get covered on your travels with a superb range of policies at great prices. Visit InsureandGo.com
World Class Golf, Spa and preferential Beach Club. Private estate overlooking West Coast
Villas from £275 per night inclusive of Golf
Contact our advertising team for advertising and sponsorship in Times Online, The Times and The Sunday Times, or place your advertisement.
Times Online Services: Dating | Jobs | Property Search | Used Cars | Holidays | Births, Marriages, Deaths | Subscriptions | E-paper
News International associated websites: Globrix Property Search | Milkround
Copyright 2009 Times Newspapers Ltd.
This service is provided on Times Newspapers' standard Terms and Conditions. Please read our Privacy Policy.To inquire about a licence to reproduce material from Times Online, The Times or The Sunday Times, click here.This website is published by a member of the News International Group. News International Limited, 1 Virginia St, London E98 1XY, is the holding company for the News International group and is registered in England No 81701. VAT number GB 243 8054 69.