Internet auction retailer has been a hit in US
ISold It, the US internet auction shop company, will open its first UK store in June next year.

Customers will drop off anything they want to sell online and then the store will handle the selling process for them - photographing the items, posting them for sale online and then packaging and sending them to the buyer.

It is hoped the West Midlands store will be the first of many across the UK.

The stores will take any item valued at more than£40. Customers pay nothing upfront and commission is deducted when the item is sold - typically 30 per cent for the first£500 and 20 per cent thereafter.

Since the first US store opened in Pasadena, California two years ago the total number of stores has increased to 170 in the States and a further 800 have been contracted worldwide.

ISold It's UK managing director Phillip Molloy said: 'There are compelling reasons for believing that the concept will take off here in the UK. 95 per cent of the world's 105 million registered users only ever buy things they never sell. Many are nervous of selling direct on eBay or simply have no time to sell their items. With 11 million users in the UK, that's an enormous opportunity for an operation that makes the whole process of selling easier.'

The use of the drop-off centres is also being marketed to businesses and charities as an opportunity to make money.

Topics