iSold It's eBay Selling Prices Average 40 Percent Higher Than First-Time Do-It-Yourself Sellers; Study Suggests Higher Prices, Less Time Commitment and Less Effort

Business Wire, May 16, 2006

LOS ANGELES -- Selling on eBay is a growing consumer trend, but there is a definite divide in the way sellers auction off their items -- there are those who sell items themselves and those who use eBay drop-off stores. Taking a closer look at these two camps of sellers, iSold It, the world's leading eBay drop-off store, conducted a research sampling to find out which selling process ultimately garnered higher bids and saved the most time. The results of the study showed that iSold It, on average, receives 40 percent higher prices for items that sell on eBay, while also saving new sellers an average of six and one-half hours used to sell, pack and ship one item.

Ten individuals were asked to sell items on eBay, while duplicates of the exact items were sold by an iSold It store. Included in the study were 10 identical pairs of items: digital cameras, porcelain figurines, train sets, strollers, home theater systems, guitars, tires, bikes, golf clubs and designer shoes. In order to provide the most relevant comparison, most listings ran during the same times in order to reach the same customer base. This methodology standardized research variables, such as seasonality or shifts in unrelated shopping behavior.

In the end, iSold It received an average of 40 percent higher selling prices for nine of the 10 items, ranging from a high of 71 percent to a low of three percent. Additionally, iSold It's items received an average of 67 percent more bids per item, with an average of 22 bids versus an average of 13 bids for each individual seller.

The research supports the idea that professional photography, effective eBay listing strategies and the appropriate starting bid can have a positive monetary effect on an item's final selling price. In addition, having a physical storefront in a local community and a high eBay feedback rating builds credibility and trust with buyers, which translates to higher selling prices.

"Most individuals don't have the experience of selling online or can't take the time to do it right," says Ken Sully, CEO of iSold It. "Our eBay experts have a wealth of knowledge that they use to benefit our customers. Even though our stores charge a commission, our higher winning bids were more than enough to cover the typical 30 to 35 percent commission charge."

The study also revealed that it took each individual an average of six and a half hours to sell one item on eBay. The most difficult and time-intensive tasks cited by the individuals included taking and uploading photographs, collecting buyer payment and packing the item.

"It was difficult to decide how many pictures to take and what angle to use, not to mention saving and uploading the pictures," one participant noted. Additionally, several other individuals cited the difficulty in packing and shipping the items, with one noting that he had to purchase a container for shipping which took more time than expected.

Since iSold It's inception almost three years ago, the company found that the aforementioned benefits resulted in a long list of satisfied customers. One customer notes, "I tried to understand eBay and didn't have the patience or time. With iSold It, I don't have to deal with the hassle of selling online on my own."

About iSold It

iSold It operates the world's largest chain of eBay drop-off stores. Since its launch in 2003, iSold It has helped hundreds of thousands of customers sell merchandise safely online. iSold It's trained experts handle the entire eBay sales process -- taking professional photographs, writing great eBay listings, answering bidder questions, collecting payment, and packing & shipping. After each item sells, the seller gets a check in the mail.

Today, iSold It is the number one seller on eBay and is ranked the number one eBay drop-off franchise by Entrepreneur magazine's Franchise 500(R). iSold It currently has hundreds of stores open worldwide and over 900 franchise stores sold. iSold It is registered to sell franchises in 50 states. For more information, visit www.i-soldit.com.

iSold It, LLC is a privately held company. Each iSold It store operates under a unique eBay ID. iSold It(R) and the iSold It logo are trademarks of iSold It, LLC.