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August 3, 2005
Overstock Auctions Leading The Way In Auction Safety
Applause for Overstock auctions, and its small sellers. It's encouraging that online auction sites, and their sellers, are voluntarily taking steps to make auctions safer. It's morally right and it's also smart business (isn't it wonderful when the two obviously mesh?) With all the publicity about auction fraud, naturally some buyers are wary about the safety of their credit cards.
Back in March, Overstock auctions announced that it was partnering with BuySafe to insure trusted sellers up to $25,000 per transaction.
http://auctions.overstock.com/cgi-bin/auctions.cgi?PAGE=static&pagenum=551
The program is free until September when members will pay 1% of closing fees on each purchase.
The problem, from the point of view of small sellers, is that sales must equal $1000/month in order to participate. So begins the "Trusted Overstock Auction Sellers Affiliate". There is no $25,000 guarantee, but sellers must meet certain criteria, which includes "exceptional service, personal responses, professional ratings and commitment to your satisfaction as the buyer." TOASA certainly favors the little guys and gals over the corporate giants, which is all to the good.
Overstock auctions and its sellers are to be commended. Anyone who makes the Internet a safer place to shop is doing all net citizens a big, BIG favor.
Posted by SydneyJohnston at August 3, 2005 11:01 AM
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