Drop-off store: eBay auction without the hassle

Public Record, The, Mar 15, 2005 by Davis, Rick

Chris Lindholm says he doesn't miss his old 9-to-5 routine with weekends off because he's found pure enjoyment in his new line of work. As for the 15-hour workdays, they just seem to go with the territory.

Lindholm and his wife, Sara, are co-owners of the local outlet of iSold It, a national chain of stores that offers a simplistic and speedy service to people who have merchandise to sell on eBay - but want somebody else to handle the entire process and are willing to pay for such a service.

"We help many people in different ways," says Chris Lindholm, a 31-year-old Michigan State graduate who relocated to the desert five years ago to take a job with an accounting firm. "There are all types of collectors. This business offers a way for many people to use eBay to sell items that are collecting dust in their garages."

The Lindholms are recent additions to a service industry that's riding the ongoing prosperity and momentum of eBay as a high-profile international garage sale. It has become a great place to shop, as evidenced by the fact that in 2003 some 95 million registered eBay users bought and sold nearly $24 billion in goods that ranged from 17th century antiques to autographed baseballs to out-of-print paperbacks and so on.

And while many don't mind doing their own selling on eBay, others turn to brokers like iSold It because they're too busy or don't want the hassle. And there is enormous demand for the service. Founded in Pasadena two years ago, iSold It now has more than 50 stores nationwide with about 150 more planned in the near future. There also are competing chains such as QuickDrop and a number of independent stores.

Lindholm said an iSold It transaction takes four to five weeks once an item is brought to the store and eBay research is utilized to determine an opening bid. The opening bid needs to be low enough to attract initial interest and allow for a bidding process.

The store then posts photographs, the opening price and a description of the item on eBay, initiating a seven-day auction period with the seller provided an e-mail link to check for auction updates.

If an item does not sell for at least the opening bid, the store pays the eBay fee and the customer retrieves his property. If it does sell, the buyer pays the selling price, plus shipping. Once received, the buyer has 72 hours to verify it's what was advertised. Soon after, the seller receives a check for up to 75 percent of the selling price. ISold It's variable commission, plus fees to eBay and PayPal (which handles payments), are subtracted.

Lindholm said he's optimistic that his $100,000 investment in the venture will pay off. ISold It opened the doors in January and have seen business surge in the last two weeks.

"There is competition," said Chris Lindholm. "We try to separate ourselves because of our customer service. There's a theory that if a customer has a bad experience, he will tell 10 people about it. We want our customers to have a good experience and hope they tell two or three of their friends. If they're happy, they will refer us."

Most merchandise can be auctioned. Exceptions include firearms, fireworks, lottery tickets, tobacco, alcohol, adult materials, plants, gift cards and surveillance equipment.

Popular eBay merchandise includes electronics, housewares, antiques, fur coats, tools, sports equipment, jewelry, vehicles and all types of memorabilia.

"Getting the word out with advertising and providing quality service are critical," said Lindholm. "I'm working seven days a week, but enjoying it more than when I was working Monday through Friday. It's dealing with customers and helping them. They come in, spend 10 or 15 minutes sometimes and we do the rest."

The concept of iSold It also works for companies liquidating inventory and for schools and nonprofit organizations involved in fundraising. A nonprofit or school group can register with iSold It. The group's supporters then bring in items for auction on eBay and the proceeds go to the organization. It's a bonus that the fee schedule is discounted.

Lindholm said it's surprising what people find in their attics and garages. What seems like junk really has value - to somebody.

"We sold an Order of the Masons brothering greeting from the 1700s. That's the oldest thing so far," he said. "The craziest thing was this 1950s battery-powered dog that lifts weights. But it all seems to have a market on eBay. There's somebody out there somewhere who's interested in buying it."

ISOLD IT

What: A nationally franchised eBay drop-off store that bridges

the gap between eBay's online auction marketplace and people

who want to sell their merchandise in a hassle-free process

Locat store: 44-491 Town Center Way, Suite F, Palm Desert

Ownership: Chris and Sara Lindholm

Employees: Seven

Web site: www.i-soldit.com

Phone: (760) 776-8405