Local eBay stores benefit from economic downturn

Local eBay stores benefit from economic downturn

By WHITNEY HOLMES
6 News Anchor/Reporter

KNOXVILLE (WATE) -- Despite nationwide sales being down over the holidays more than 30 percent, local iSold It stores are seeing a business boom.

Jay Busé is like many Americans looking to cash in of stuff they already have.

"My wife has some china that she's had for over 50 years. It is just something that we had that we don't use and we could use the money," Busé says.

Thanks to a growing number of people like Busé, Jackie Jacobs' iSold It store is bucking the trend of businesses with declining sales.

Instead, business at her store is good.

"We've had a 15 percent increase in December in the average selling price of the things on eBay we've been listing," Jacobs says.

iSold It is listing every day products like usual, but also seeing more high end products on the market.

"We've seen a lot of designer purses and items like that that people bought when times were good and are now trying to get some money out of them," Jacobs says.

iSold It can benefit from the slumping economy in two ways.

First, it can profit from people looking to pinch pennies on purchases.

Second, it can profit from people looking to make money off items just sitting in their homes.

"There are people who say eBay is recession proof. When times are good, people buy more stuff and they have more to sell. On the other hand, when the economy is worse, people want more money," Jacobs says.

She expects business to pick up even more in the next couple of weeks when spring cleaning begins.