| Overstock.com Lowers Auction Fees, Delays New-Feature Launch
Overstock.com will lower listing and commission fees for online-auction sellers effective April 10, 2007. The head of Overstock.com Auctions Meghan Tuohig also announced on discussion boards the launch of 1-day auctions and the delay of the long-promised bid cancellation feature and Classifieds. Listing fee decreases range from zero to 7 cents, depending on the starting price. For example, for items with a starting price of less than one dollar, listing fees will go from 17 cents to 10 cents. Closing (commission) fees will also be lowered, with the first tier commission (for items selling for between one cent and $25) going from 3.25 percent to 3 percent. When Overstock.com launched its Auctions platform in September 2004, online-auction sellers in some categories hoped they could migrate their businesses from eBay to Overstock Auctions.
Jeweler M. Fabrikant & Sons seeks approval to auction assets
WASHINGTON (AP) - Diamond wholesaler M. Fabrikant & Sons Inc. has asked a judge for permission to begin enticing bidders for an auction of its assets slated for early May. The request, filed with the U.S. Bankruptcy Court in Manhattan on Tuesday, solidifies the company's earlier assertions that it may liquidate rather than reorganize. Under the auction plan, privately held M. Fabrikant would sell all its assets, including inventory, accounts and intellectual property. It would then file a liquidation plan with the court. Under the proposed auction rules, any stalking-horse, or lead bidder, would be offered payment for fees and costs worth up to 2 percent of the bid or $200,000 (euro147,000), if the offer is lost at auction. The judge overseeing the jewelry company's bankruptcy case will decide whether to approve the rules at a hearing on April 26. M.
Alleged Jane Austen portrait fails at auction
NEW YORK A distant relative of romance novelist Jane Austen will have to hold onto a late 18th century painting he claims is a portrait of the author as a teen-ager. New York auction house Christie's expected the painting of a young girl in white dress with a green parasol to fetch 400-to-800 thousand dollars. But the item did not make its minimum bid level. Austen scholars disagree sharply on whether the portrait could be that of the author of "Pride and Prejudice." The relative has been turned down a number of times by the National Portrait Galley in London when he tried to donate the painting. Copyright 2007 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. .
Diaries of a Madwoman -- Stolen?
New allegations of cheating and thievery in the Anna Nicole saga. Lin Wood, the high-powered bull-dog attorney of Howard K. Stern has sent a notice to Heritage Auctions, Inc. over two of Anna Nicole's diaries listed as available on the site. Wood claims that the diaries were stolen and that the company, and the auction sponsor, Clips4Sale.com, are not legally entitled to hawk the items. "Make no mistake: these items were stolen from Ms. Smith by one or more thieves," claims Wood's letter. "Ms. Smith's Estate intends to vigorously pursue the return of the diaries, will take whatever means necessary to secure their return, and will hold to account those persons and entities that have profited through their reprehensible acts at the expense of the Estate." TMZ spoke with Thomas Riccio, the man claiming to be the original owner of the diaries, who denies Wood's claims, saying that "the facts he mentions in the letter are FALSE -- these diaries are NOT stolen, (They were obtained BEFORE her death) -- he is just trying to steal more money in the name of Anna Nicole." The diaries are handwritten journals from 1992 and 1994, and both auctions start at a whopping $26,000.
TDP hits out at Jagan
HYDERABAD: The Telugu Desam has lashed out at Y.S. Jaganmohan Reddy, son of Chief Minister Y.S. Rajasekhara Reddy, for criticising the party and challenging its leaders to take part in the auction for land originally allotted to Raghuram Cements in Kadapa district. At a press conference here on Sunday, TDP spokesperson N. Rajakumari asked Mr. Jaganmohan Reddy to ponder whether it was proper for him and his relatives to take advantage of his father's position. Referring to Mr. Reddy taunting TDP leaders to compete and place their bids for the land, she wondered if there was a precedent of a political party participating in auctions. `Maha dharna' At another press conference, party leader E. Peddi Reddy urged farmers and people from Telangana districts to take part in the TDP `maha dharna' to protest against Maharashtra continuing works on Babli on April 24.
|
