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Overstock Bundles Bidz Jewelry Inventory in $1M Lot

Jun 9, 2015 2:23 PM   By Jeff Miller
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RAPAPORT... Overstock.com Inc. created a single lot of more than 1 million pieces of jewelry from its liquidation of Bidz.com for $1.13 million -- essentially pricing each item at $1. The online retailer stated that the lot includes diamond-inlayed titanium rings, jeweled music boxes and watches. According to the retailer, each piece is still in its original packaging, ready to sell in a brick-and-mortar store or online.

"This is an incredible opportunity for an entrepreneurial wholesaler or retailer to quickly increase their jewelry assortment in an economical way," said Overstock.com's president, Stormy Simon. "There are great pieces of quality daily-wear jewelry at an unbelievable value."

Overstock.com added that the average purchase price for each unique stock-keeping unit in the lot, as listed, is nearly $20. The company will cover the cost of U.S. shipping for the lower 48 states.

Tags: auction, gemstones, Jeff Miller, Jewelry, overstock
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