{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-517835be.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Internet retailer Overstock.com auctions overstocked goods by pallet at Salt Lake City warehouse.' data-url='/boclips/videos/5c54bb15d8eafeecae1225ec' data-video-url='/boclips/videos/5c54bb15d8eafeecae1225ec' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nInternet retailer Overstock.com auctions overstocked goods by pallet at Salt Lake City warehouse.\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eHEADLINE: Overstock Auctions Excess MerchandiseCAPTION: Internet retailer Overstock.com auctions overstocked goods by pallet at Salt Lake City warehouse. (dec. 16)   SALT LAKE CITY (AP) _ Overstock.com, the online retailer known for...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eHEADLINE: Overstock Auctions Excess Merchandise\u003cbr/\u003eCAPTION: Internet retailer Overstock.com auctions overstocked goods by pallet at Salt Lake City warehouse. (dec. 16)\u003cbr/\u003e   SALT LAKE CITY (AP) _ Overstock.com, the online retailer known for selling distressed merchandise, was feeling a little distressed itself. With household merchandise stacking up in a warehouse, it opened the doors Thursday for an auction of goods assembled hodgepodge that had to be bought together on pallets.\u003cbr/\u003e   Overstock was overstocked.\u003cbr/\u003e   \"We call it revenue recovery,\" said Carroll Morale, a vice president of supply chain, who said Overstock had already written off the mostly returned goods as a loss and was happy to get anything back.\u003cbr/\u003e   More than 600 people registered for the warehouse auction, and many said they were bidding blindly because pallets were shrink-wrapped in black plastic and they didn't study the manifests.\u003cbr/\u003e   \"I just came to blow some money _ my wife is going to kill me,\" said Joseph Kikel, a 34-year-old car salesman who bought a pallet of furniture for about 25 cents on the dollar. \u003cbr/\u003e   The man from Layton, Utah, spent $350 for a leather chair, a dresser, an entertainment center and padded bench. He wasn't certain what he bought until he unloaded boxes in his pickup.\u003cbr/\u003e   It was Overstock's first auction and to mix things up, workers stacked pallets with whatever moved down a conveyor belt _ \"you could get dinnerware with luggage,\" Morale said.\u003cbr/\u003e   Salt Lake City auctioneer Rob Olson said 307 pallets of goods were sold for around $150,000. \u003cbr/\u003e   \"It was crazy,\" he said. The auction's final pallet contained $14,000 worth of women's dresses, he said. It sold for $1,800.\u003cbr/\u003e   Normally Overstock arranges sales of unsold goods privately to other liquidators. The company called the auction a community service, and said it was able to empty part of its sprawling warehouse for expected holiday merchandise returns.\u003cbr/\u003e   \"A lot of it is furniture and decor, but one of my lots had a laptop,\" said Karl Fackrell, a 65-year-old real-estate developer in South Jordan, Utah.\u003cbr/\u003e   Fackrell said he paid about $2,500 _ or about 20 cents on the dollar _ for six pallets of goods. \"I'll sell the stuff I don't want,\" he said.\u003cbr/\u003e   The auction was the latest innovation from a company whose innovations sometimes backfire.\u003cbr/\u003e   Overstock \"shot itself in the foot\" earlier this year with a rebranding campaign as \"O.co\" that only confused consumers, said Daniel Kurnos, a stock analyst with The Benchmark Co.\u003cbr/\u003e   Overstock was penalized earlier this year for setting up fake websites that linked to its own website, Google has said. During the two-month penalty time, Google pushed Overstock further down in search results. Overstock has said its revenue dropped 5 percent as a result.\u003cbr/\u003e   And in California, the company's efforts to avoid charging sales tax forced it to cut ties with merchandisers who generated 5 percent of Overstock's revenue, he said.\u003cbr/\u003e   Overstock reported a loss of $16 million for the first nine months of 2011, compared with a loss of $1 million in 2010. The company has generated profits in only two of its dozen years in business as it tries to compete in a crowded field of Internet liquidators.\u003cbr/\u003e   \"They're expecting growth for the holiday quarter, but they have to dig themselves out of a hole,\" Kurnos said.\u003cbr/\u003e   Overstock says things are looking up _ Cyber Monday sales after Thanksgiving weekend were the largest ever for the company. The company once aspired to take on Internet goliaths, but competitors Amazon and eBay generate sales 30 or more times greater.\u003cbr/\u003e   On Thursday, some Utah consumers were just happy to grab a quick deal and unwrap it at home.\u003cbr/\u003e   Others who described themselves as more serious bidders were holding onto their wallets until the end of the one-day auction, when they hoped to pick up stuff for pennies on the dollar.\u003cbr/\u003e   Douglas Larson, a home renovator looking for furniture, was unimpressed by Overstock's emphasis on the full retail value of goods.\u003cbr/\u003e   Nobody pays full retail, he sniffed.\u003cbr/\u003e   \"So you cut that in half right away, then cut it in half again,\" he said.\u003cbr/\u003e   That was his bidding strategy, but he complained he couldn't inspect any of the shrink-wrapped boxes of goods.\u003cbr/\u003e[Location - Date:SALT LAKE CITY, UTAH/DEC. 15]\u003cbr/\u003e[Source:APTN]\u003cbr/\u003e[Notes:00-12 SALT LAKE CITY, UTAH]\u003cbr/\u003e[Notes:12-16 CARROLL MORALE/VICE PRESIDENT OF SUPPLY CHAIN, OVERSTOCK.COM]\u003cbr/\u003e[Notes:38-42 CARL FACKRELL]\u003cbr/\u003e[Notes:53-59 ANDREW FALLON]\u003cbr/\u003e\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='action-container flex justify-between'\u003e\n\u003cbutton aria-expanded='false' aria-label='Read more description' class='rp-full-description' type='button'\u003e\n\u003ci class='fai fa-solid fa-align-left'\u003e\u003c/i\u003e\n\u003cspan id='read_more'\u003eRead More\u003c/span\u003e\n\u003c/button\u003e\n\u003cdiv class='rp-report'\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv aria-labelledby='resource-details-heading' class='rp-info-section'\u003e\n\u003ch2 class='title' id='resource-details-heading'\u003eResource Details\u003c/h2\u003e\n\u003cdiv class='rp-resource-details clearfix'\u003e\n\u003cdiv class='detail'\u003e\n\u003cdl\u003e\n\u003cdt\u003eCurator Rating\u003c/dt\u003e\n\u003cdd\u003e\u003cspan class=\"star-rating\" 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