Bid-ness Booms Online

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Amy Weintraub opened an eBay store in Westwood five years ago to help people get rid of old stuff. “And I was looking for something to do, being an empty nester,” she said

But lately, Weintraub’s store, ShopitLA, is helping failed businesses liquidate unneeded goods.

Weintraub recently auctioned off the remains of a North Hollywood scuba shop, getting rid of more than $250,000 of inventory in about four months. She also helped Nettie’s Needlecraft, a yarn store in Beverly Hills, dispose of its inventory when it closed last year.

Normally, she takes 48 percent commission on sales. But for her business customers, Weintraub sometimes buys all or part of their inventories, and keeps the money she makes selling via the online auction service. Other times, she sometimes works out a consignment deal with the business owner.

She also has seen an increase in business from delivery and storage companies that got stuck with inventory from retailers that have gone out of business.

Weintraub started the shop under the iSold It franchise and broke away late last year to go independent.

Meanwhile, stores in the La Jolla-based iSold It chain also are seeing an uptick in business as much as 20 percent from businesses that are closing. But prices are sagging.

“The average price for items on eBay has dropped because people are more concerned with their money,” said Ken Sully, iSold It chief executive. “There are also fewer bidders, so that lowers the price, too. So there’s an increase in these items but a decrease in price. It’s definitely a buyer’s market.”

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