| Liquidation Dot Com (lcom) is an online-auction site for | | | | The main negative experience occurs when a closed |
| surplus goods. One of the best features of lcom is that | | | | auction goes into dispute. This doesn't happen often, |
| you have high visibility with any of your auctions. Unlike | | | | but it can be very costly when it does. The customer |
| eBay, where there are thousands of listings per | | | | has 2 days to review the product after the load has |
| category, lcom categories generally have 2-3 pages | | | | been received. If he disputes the purchase, the seller is |
| of listings. You will definitely get eyeballs viewing your | | | | notified and the lcom team makes a decision as to |
| product. | | | | whether the reason is valid. If the load is returned, the |
| The lcom process works as follows: you submit your | | | | seller pays shipping both ways, from your site to the |
| product information to lcom, including the description, | | | | bidder's and back, plus the full 15% commission. |
| pictures, weight, etc. The staff will then put up an ad | | | | I have sold many lots of product on lcom; and the |
| for you. I have found them to be both helpful and | | | | biggest lesson I learned is to select the right category. |
| friendly. After the auction has closed, a third-party | | | | There are various categories to describe your product |
| shipping company will contact you to arrange the | | | | such as new, shelf-pull, used and salvage. I have found |
| pickup. You can view all of this progress at the lcom | | | | that it's best to put your product in one category |
| Web site. The customer and seller have no direct | | | | below what it actually is to save any disputes; for |
| contact - questions are answered online, but are | | | | example, if you have used computers, list them under |
| filtered through lcom. | | | | salvage. |
| All lcom auctions start at $100 with no reserve. | | | | I have found virtually no price difference in the final sale |
| Normally I can sell a whole pallet of product and | | | | by putting goods in a lower category, and it limits |
| receive a price equivalent of what I would receive | | | | customer disputes. It may sound strange, but the |
| selling them on eBay one at a time. The fees for your | | | | ended auction price is almost the same. As I wrote |
| auction are 15% of the winning auction price with a | | | | earlier, if an auction is disputed, you not only lose your |
| minimum of $150. The $150 minimum may seem high, | | | | time, but the full 15% commission and shipping costs. |
| but the exposure and ability to move a large load of | | | | Believe me - this is something you want to avoid! |
| product at eBay-type pricing makes it very attractive. | | | | If you have slow movers on eBay or overstock items, |
| Payment usually takes 7 - 10 days after the auction | | | | consider using lcom as a good venue to sell bulk |
| closes, depending on the shipping times, etc. | | | | product. |