Before there was Shopify, YouTube, and Facebook, there was OverstockArt. David Sasson launched his company on the Yahoo Store platform in 2002 in Wichita, Kansas. He sells original hand-painted reproductions of works by Van Gogh, Monet, and more.
A lot has changed since 2002, but Sasson’s passion and resilience have remained the same. He has faced legal crises, replatforming, and competitors. Still, OverstockArt is thriving.
In a recent conversation, he talked about his journey so far, his vision, and his advice for budding entrepreneurs. The entire audio is embedded below. The transcript has been edited for clarity and length.
Eric Bandholz: Please tell us about yourself.
David Sasson: I’m the co-founder and CEO of OverstockArt.com. Our company was founded in 2002. old company According to e-commerce standards. I sell art online. Our main product line is hand-painted oil painting reproductions of works by Van Gogh, Monet, Renoir, and artists of their caliber. It is then recreated by hand and the customer can choose the frame. We create all of our frames in our Kansas facility and ship them to consumers nationwide.
Bandholz: How does copyright affect it?
Sasson: Everything we work with is in the public domain. Copyright law is complex. I’m not a lawyer, but most art in the United States is in the public domain if it was produced before 1923.
There are global restrictions due to treaties between countries. For example, the United States has public domain art, but Europe does not. We stick to his art created before 1923.
Bandholz: How does the operational system work?
Sasson: We work directly with overseas studios. We built our own supply chain software and use it to create orders for our studios. Orders include images, part numbers, and quantity made. The studio will make a copy and upload the photo. Then approve or deny. Once we approve it, the studio will prepare it for shipment to our facility here in Kansas.
This site contains photos of reproductions, not originals. When a customer places an order, it is usually shipped the next day and delivery takes him 3-4 days. Selling art requires keeping a very extensive and shallow inventory. We have a wide variety of types available. Predict what will sell for each piece and how many will be sold.
We’ve built a pretty sophisticated supply chain and demand planning tool that tells us how many to order for each painting. This model helps you own stocks profitably. It’s not simple.
Amazon changed consumer delivery expectations with Prime. Now everyone thinks he wants the goods within 2 days. The closer we get to that, the better we are, but our customers understand that there will be longer wait times for custom orders.
Bandholz: A lot has changed since 2002.
Sasson: In 2013, copyright infringement claims nearly put us out of business. We had to remove a lot of questionable art, including Picasso. We paid for lawyers and stuff, but it was stressful.
2012 was a strong year, but studios struggled to meet demand. 2013 started at the same pace, but suddenly we found ourselves in a copyright crisis. A significant percentage of inventory had to be removed, and many of those items were in transit from suppliers. So I’m paying for a product I can’t sell, and I don’t have a suitable replacement.
Sales were down 50%, but costs remained the same. I had used up all my cash and had to give the money back to the company. Due to legal issues, we were unable to focus on increasing sales. For a while, I was sure I was going to sink.
We finally turned a corner in 2016, and by 2017 we had real success. By the 2017 holiday season, we suddenly had a lot of money and were doing what we wanted to do instead of what we had to do.
I believed in our mission and accomplished it, but not without it. doubts and difficulties. If you are a new business owner, situations like this can happen, so be prepared. It may be difficult at the moment, but it will gradually get easier.
Bandholz: Have you considered selling OverstockArt?
Sasson: An entrepreneur’s goal should be to build a great business. If it’s fun, why not continue?If I were to sell my company, I would probably start something else. That’s what I’m doing. I might sell it if the right opportunity presents itself, but I’m not looking for that. I want to build a great company. If the founders set out to create something great, everything flows from there. I see no reason to do anything else.
Every decision in life has consequences, especially for business owners. Many people do not want to take responsibility, so they often run into problems. But if you’re willing to step up, put in the work, and believe in yourself, you can overcome obstacles.
My number one suggestion to new entrepreneurs is to take your time and think. I tend to spend most of every Friday away from the office at a coffee shop. Bring a piece of paper and write. Start writing with a question or topic in mind, then read what you have written. That’s how you come up with solutions to problems. Entrepreneurs demand action. We see something and go after it. But by stopping, reflecting and brainstorming, you can improve and develop your advantage.
Bandholz: Where can I connect with people?
Sasson: our website is OverstockArt.com.I’m riding ~ linkedin.
