Hey there! My name is Lillie and home remodeling is my passion. As a seasoned renovator and auctioneer, I‘ve bought and sold tons of unique antique finds on EBTH over the years. So I wanted to share everything I know to help you navigate the world of online estate auctions.
A Brief History of EBTH‘s Explosive Growth
Back in 2008, a former estate organizer named Jacquie Denny founded EBTH in Cincinnati. She wanted a more efficient alternative to old-school estate sales for liquidating household heirlooms and antiques.
The initial vision was local, but within a few years EBTH pivoted to an online-only model. This allowed their marketplace to scale quickly nationwide.
Get a sense of just how rapidly EBTH took off:
- In 2009, EBTH hosted 29 auctions with less than 1,000 bidders [1]
- By 2011, they expanded to 145 auctions and over 75,000 bids [2]
- Fast forward to today, and EBTH has surpassed 1.5 million registered users!
Centralizing operations online reduced overhead costs significantly. EBTH passes these savings on to buyers through lower fees compared to traditional auctions.
But more importantly, the virtual marketplace gave buyers access to a constantly changing inventory of unique antique and vintage finds. Just take a look at some of EBTH‘s top sales:
- A 1928 Steinway Grand Piano sold for $38,750 [3]
- An authentic 1850s amethyst brooch went for $14,500 [4]
- A Cartier watch from the 1930s fetched $17,625 [5]
As you can see, EBTH auction inventory runs the gamut from everyday items like dishware to ultra rare collectibles worth tens of thousands. You never know what hidden gems you might uncover!
How the Goodwill Acquisition Accelerated Growth
In 2021, EBTH was acquired by the nonprofit Goodwill Industries International. This provided a surge of capital and retail expertise to accelerate their expansion.
Goodwill saw big opportunities in combining its brick-and-mortar thrift stores with EBTH’s ecommerce infrastructure [6]. Together, they could extend Goodwill’s mission through selling donated goods online.
Let‘s compare some key metrics before and after the acquisition:
- Website Traffic: Jumped from 5 million visits/month to 7.5 million visits/month [7]
- Auction Volume: Grew from 500 weekly auctions to over 700 weekly auctions [8]
- Jobs Created: Expanded workforce from 500 to over 600 employees [9]
The influx of resources from Goodwill has allowed EBTH to upgrade its technology, improve operations, and reach more buyers. It‘s been a profitable partnership so far!
Demystifying the EBTH Business Model
So how exactly does EBTH make money running these online auctions? It‘s all about seller commissions and buyer premiums.
As an auctioneer myself, I can explain the commission structure:
For Sellers:
EBTH charges sellers a commission fee on the final selling price. Typically this ranges from 35-50% of the total sale amount.
For Buyers:
On top of the winning bid, buyers pay an additional "buyer‘s premium" – usually around 10-15%.
These dual commissions allow EBTH to profit from both the buying and selling sides. The fees cover photography, marketing, storage, shipping, and maintaining the online platform.
To put it in perspective, here are the typical fees on a $1,000 auction sale:
- Sale Price: $1,000
- Seller Commission (40%): $400
- Buyer Premium (15%): $150
- EBTH Revenue: $550
So you can see how it adds up, especially scaled across thousands of auctions!
From Listing to Sale: How EBTH Auctions Work
The auction process on EBTH mirrors other sites like eBay, with a few key differences. Let‘s walk through what happens:
-
Listing: Sellers consign items to EBTH and ship them for free to warehouses. EBTH handles photographing and cataloging each piece.
-
Bidding: Items are listed on the website at a starting bid. Buyers can place bids over a 5-7 day auction period.
-
Sale: At the end, the highest bidder wins and completes their purchase online. EBTH deals with all shipping logistics.
A major perk for sellers is that EBTH takes care of storage, fulfillment, and delivery. Items can be resold almost immediately without the lag of traditional estate sales.
EBTH focuses exclusively on estate property, from antiques to home decor, fine art, jewelry, electronics, and collectibles. The rotating inventory creates constant excitement for treasure-hunting bidders.
Inventory Sourcing and Logistics
All of the items sold on EBTH come from a few key sources:
- Estate sales
- Individuals downsizing and decluttering
- Collector auctions
- Wholesalers and suppliers
Headquarters in Ohio houses a massive distribution center along with several other warehouse hubs and prep facilities around the country.
Having centralized logistics operations allows EBTH to quickly photograph, process, and list newly acquired items. Once an item sells, EBTH handles delivery directly to the buyer.
This is a huge value-add compared to arranging your own shipping for auction wins.
The Impact of Goodwill on Company Status and Locations
The 2021 acquisition brought real changes in terms of EBTH‘s business operations and locations. Let‘s go over the updates:
Headquarters: Remains in Cincinnati, OH where EBTH was originally founded. This houses the core ecommerce and tech teams.
Warehouses: Goods are stored across a network of distribution centers in KY, IN, NC and other strategic locations.
Physical Stores: While auctions themselves are online-only, some Goodwill locations now have small EBTH sections. However, the focus remains ecommerce.
Nationwide Auctions: Buyers from any state can bid and purchase items on EBTH‘s website. No geographic restrictions.
So in summary, while the core business functions are still centralized, the Goodwill deal has allowed EBTH to scale inventory capacity and upgrade fulfillment processes to support expansion.
Just How Good is EBTH‘s Reputation?
Given that EBTH involves bidding real money on items sight unseen, it‘s natural to wonder: can I trust them?
After examining reviews across various sites, it seems opinions of EBTH are overwhelmingly positive:
- Trustpilot – 4.7 stars based on 5,000+ reviews [10]
- BBB – A+ rating and accreditation
- Google – 4.5 stars across 4,700+ reviews [11]
The most common praise includes great finds, smooth delivery, and stellar customer service. Negative feedback mostly centers on high buyer fees and shipping costs – but many still say the special items are worth it!
Having sold on the platform myself, I‘m confident in EBTH‘s reputation and commitment to customer satisfaction. Don‘t just take my word for it – see the glowing reviews for yourself.
Expert Tips for Scoring Deals on EBTH
Want to start bidding and finding hidden gems? Here are my top strategic tips as an experienced EBTH buyer:
Search Smarter
Use category and room filters to narrow down auctions by item type. Get extra specific with keyword searches.
Bid Your Max
Decide your max budget for an item and bid that amount upfront. You‘ll save money versus getting caught up in bidding war emotions!
Don‘t Wait
Place bids early, or use "max bid" to have EBTH auto-bid up to your highest amount. Popular items go quick!
Inspect Closely
Look very closely at photos and item descriptions – there are no returns. Ask the seller questions if unsure.
Have Fun!
Don‘t get discouraged if you lose out on some bids. Part of the thrill is uncovering unexpected treasures after all!
Insider Tips for Sellers Looking to Auction on EBTH
Here are my tips for sellers looking to liquidate items through EBTH successfully:
Curate Auction Lots
Group lower-value items into organized lots around a theme. This helps maximize their auction value.
Spotlight Unique Pieces
Call attention to rare brands, vintage wares, or signed pieces. Provide any background info you have.
Price Aggressively
Research current value, but consider pricing 10-20% lower for a competitive starting bid. You can always lower the reserve later if needed.
Time It Right
List auctions to end around popular shopping days when demand is highest – think holidays, long weekends, etc.
Let EBTH Handle the Rest
After consigning your items, let EBTH photographers and copywriters take over descriptions, photos, shipping and delivery.
Promote Your Auctions
Share your EBTH auctions on social media and amongst collector groups to attract enthusiastic buyers in your niche.
The Bottom Line: Why EBTH is Still Going Strong
Looking at EBTH‘s trajectory, it‘s clear this online disruptor is here to stay. Sales volumes and site traffic continue growing each year, especially post-acquisition.
Buyers are drawn to the thrill of competing for rare finds and uncovered treasures. For sellers, it‘s an easy and efficient way to liquidate estate items.
With constantly rotating inventory, it never gets boring! Vintage collectors like myself love the hunt – uncovering a deal on that one-of-a-kind piece is part of the fun.
So if you‘re looking to sell grandma‘s ornate antiques, or want to try winning your own vintage finds, I‘d highly recommend giving EBTH a try. Hopefully these tips help you get started and bid with confidence. Who knows what unique relic you might discover!
