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                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549



                                  SCHEDULE 13G
                                 (Rule 13d-102)

             INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
           TO RULES 13d-1(b) (c), AND (d) AND AMENDMENTS THERETO FILED
                            PURSUANT TO RULE 13d-2(b)
                               (Amendment No. 1)*

                                FairMarket, Inc.
                                (Name of Issuer)

                                  Common Stock
                         (Title of Class of Securities)

                                    305158107
                                 (CUSIP Number)

                                 August 22, 2001
                  (Date of Event which Requires Filing of this
                                   Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule
                                   is filed:
                                 / / Rule 13d-1(b)
                                 /X/ Rule 13d-1(c)
                                 / / Rule 13d-1(d)

*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).



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CUSIP NO. 305158107                     13G                 PAGE 2  OF  4  PAGES

       1.  NAME OF REPORTING PERSONS
           I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
               Lloyd I. Miller, III      279-42-7925

       2.  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*         (a)     / /
                                                                     (b)     / /

       3.  SEC USE ONLY

       4.  CITIZENSHIP OR PLACE OF ORGANIZATION
               United States
--------------------------------------------------------------------------------
                             5. SOLE VOTING POWER
                                1,445,142
                          ------------------------------------------------------
           NUMBER OF
             SHARES          6. SHARED VOTING POWER
          BENEFICIALLY           1,455,389
            OWNED BY      ------------------------------------------------------
              EACH
            REPORTING        7. SOLE DISPOSITIVE POWER
             PERSON              1,445,142
              WITH        ------------------------------------------------------
                             8. SHARED DISPOSITIVE POWER
                                 1,455,389
--------------------------------------------------------------------------------
       9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
          2,900,531
--------------------------------------------------------------------------------
      10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
                                                                            [ ]
--------------------------------------------------------------------------------
      11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
          10.0%
--------------------------------------------------------------------------------
      12. TYPE OF REPORTING PERSON*
          IN-00**
--------------------------------------------------------------------------------

                      *SEE INSTRUCTIONS BEFORE FILLING OUT!

                                  **See Item 4.



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                                                                     Page 3 of 4


Item 1(a).    Name of Issuer:                         FairMarket, Inc.

Item 1(b).    Address of Issuers's Principal
              Executive Offices:                      500 Unicorn Park Drive
                                                      Woburn, Mass. 01801-3341

Item 2(a).    Name of Person Filing:                  Lloyd I. Miller, III

Item 2(b).    Address of Principal Business
              Office or, if None, Residence:          4550 Gordon Drive
                                                      Naples, Florida 34102

Item 2(c).    Citizenship:                            U.S.A.

Item 2(d).    Title of Class of Securities:           Common Stock

Item 2(e).    CUSIP Number:                           305158107


Item 3.      IF THIS STATEMENT IS FILED PURSUANT TO RULE 13d-1(b) OR 13d-2(b)
             or (c), CHECK WHETHER THE PERSON FILING IS A: Not Applicable, this
             statement is filed pursuant to 13d-1(c).

Item 4.      OWNERSHIP: Miller shares dispositive and voting power on
             1,455,389 shares of the reported securities as an advisor to the
             trustee of certain family trusts and with respect to shares owned
             by his wife. Miller has sole dispositive and voting power on
             1,445,142 of the reported securities (i) as the manager of a
             limited liability company that is the general partner of certain
             limited partnerships, (ii) as the custodian to accounts set up
             under the Florida Uniform Gift to Minors Act (iii) as trustee for
             certain trusts, (iv) as to shares owned by Miller as an individual
             and (v) as investment advisor to the trustee of certain trusts.

             (a)   2,900,531

             (b)   10.0%

             (c)   (i) sole voting power:                     1,445,142

                   (ii) shared voting power:                  1,455,389

                   (iii) sole dispositive power:              1,445,142

                   (iv) shared dispositive power:             1,455,389



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                                                                     Page 4 of 4

Item 5.      OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS:    Not Applicable

Item 6.      OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON:
             Persons other than Lloyd I. Miller III, have the right to receive
             dividends from, or the proceeds from the sale of, the reported
             securities. None of these persons has the right to direct such
             dividends or proceeds.

Item 7.      IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
             THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY: Not
             Applicable

Item 8.      IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP:
             Not Applicable

Item 9.      NOTICE OF DISSOLUTION OF GROUP: Not Applicable

Item 10.     CERTIFICATION: By signing below I certify that, to the best of my
             knowledge and belief, the securities referred to above were not
             acquired and are not held for the purpose of or with the effect of
             changing or influencing the control of the issuer of the securities
             and were not acquired and are not held in connection with or as a
             participant in any transaction having that purposes or effect.

                                    SIGNATURE

       After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.




Dated:      August 31, 2001                     By: /s/ Lloyd I. Miller, III
                                                    -------------------------
                                                    Lloyd I. Miller, III