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TechnologyJun 10, 2015
Overstock selling 1M pieces of jewelry for $1.3M
The online retailer is looking for a buyer for a lot of jewelry from its liquidation of Bidz.com, pricing each piece at about $1 each and asking for $1.3 million for the whole thing.
Pictured here is a small sampling of Overstock’s $1.3 million jewelry lot.
Salt Lake City, Utah--Overstock.com is hoping one buyer will take more than 1 million pieces of jewelry off its hands in a single transaction.
The online retailer has listed a single bulk lot, featuring 1.13 million assorted jewelry pieces, on its site.
The company said that though the average purchase price for each item as listed is approximately $20, as part of the lot the average price has become just $1 each, meaning a buyer could purchase the lot for the big bulk discounted price of $1.3 million.
Most of the lot is fashion jewelry, though it also contains a number of fine jewelry items such as diamond-inlaid titanium rings, jeweled music boxes, watches and more. The 1.13 million units are in their original packaging, ready for immediate sale in store or online.
Overstock said that it would cover the cost of domestic shipping to the 48 contiguous states in the U.S., to be arranged with the e-tailer by the purchaser.
RELATED CONTENT: Overstock buys Bidz.com’s inventory
Interested parties with questions about the lot can contact the Overstock Special Acquisition Group at liquidation@overstock.
Last fall, Overstock acquired the entire inventory of then-foreclosed jewelry auction site Bidz.com. The jewelry, valued at more than $89 million at retail, became the center of the company’s new Jewelry Liquidation Vault, which is still active.
Bidz.com has since relaunched, and the site’s new management team includes Daniella Zinberg, the daughter of former Bidz.com CEO David Zinberg.
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