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Overstock.com Brings Real Estate Auctions to Consumers

Overstock.com Inc. has added auctions to its real estate platform, allowing consumers to search real estate auction listings and link to online auctions. Overstock.com has joined with the real estate auction company Williams & Williams as an online auction source provider.

The Overstock.com real estate portal provides consumers with the ability to search and browse thousands of auction properties in targeted geographic areas. In addition, consumers can link directly to Williams & Williams' website where they can register and participate in online auctions.

"We have dialed our customers into another overstocked inventory to allow them to make their best deal," said Patrick Byrne, Overstock.com chairman and CEO. "Our site provides Overstock.com customers with information from real estate auctioneers and brokers who have direct access to auction properties and local expertise."

"It was very important to us in launching the new area of online auction that we had the expertise of an innovative and technically capable real estate auction company. Williams & Williams is that company," said Bill Floor, director of real estate for Overstock.com. "They share our vision to provide consumers with new, empowered ways to shop for property." "We're excited to be able to offer another wide-reaching opportunity for consumers to tap into real estate offerings," added Pamela L. McKissick, president & COO, Williams & Williams. "Joining with Overstock.com to create a milestone in real estate auctions is aligned with our mission and history to deliver real estate to the marketplace with transparency, efficiency and convenience."

Overstock.com Inc. is an online retailer offering brand-name merchandise at discount prices. The company offers its customers an opportunity to shop for bargains conveniently, while offering its suppliers an alternative inventory distribution channel. Overstock.com, headquartered in Salt Lake City, is a publicly traded company listed on the NASDAQ Global Market System.

Williams & Williams is a real estate auction company specializing in selling real estate via a ground-breaking system of auction. The company's auctions are open to the global marketplace through on-lawn, online interactive and Studio auctions conducted by the nation's most talented auctioneers. Separate sales divisions serve the corporate, mortgage banking, employee relocation, commercial and trust industries with worldwide marketing services and modern transparent auctions for the ongoing value preservation and sale of owned assets. The company also serves individual property owners through its Farm, Ranch and Premier sales division. In the U.S., sales are held every month throughout all fifty states and the company's sales platform averages 35 days on market and 30 days to closing.