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Wegner started selling used items in 2004 with 1500 euros start-up capital and 20 square metres (220 sq ft) of storage space, selling on eBay and Amazon. [3] In May 2006, he founded Momox GmbH and the momox.de web site for buying books, CDs, and DVDs. The selling site Medimops opened in 2007. [4] In 2010, other investors joined the company. [5]
The owner of the goods pays the third-party a portion of the sale for facilitating the sale. Consignors maintain the rights to their property until the item is sold or abandoned. Many consignment shops and online consignment platforms have a set time limit (usually 60–90 days) at which an item's availability for sale expires.
ThriftBooks is a large web-based used bookseller headquartered near Seattle, Washington. [3] ThriftBooks sells used books, DVDs, CDs, VHS tapes, video games, and audio cassettes. ThriftBooks' business model "is based on achieving economies of scale through automation." [4]
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