OMB Number: 3235-0145
                                                       Expires: October 31, 2002



                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 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 13d-2(b)
                               (Amendment No. 1)*



                                FAIRMARKET, INC.
--------------------------------------------------------------------------------
                                (Name of Issuer)

                          COMMON STOCK, $.001 PAR VALUE
--------------------------------------------------------------------------------
                         (Title of Class of Securities)

                                   305158 10 7
--------------------------------------------------------------------------------
                                 (CUSIP Number)

                                DECEMBER 31, 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)
         |_| Rule 13d-1(c)
         |X| 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 the
disclosures provided in a prior cover page.

The information required in 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.  305158 10 7                13G                  PAGE  2  OF  5  PAGES
                                                                ---    ---
-----------------------                                    ---------------------

--------- ----------------------------------------------------------------------
   1      NAME OF REPORTING PERSON
          I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)

          SCOTT T. RANDALL

--------- ----------------------------------------------------------------------
   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
                                        3,976,625
      NUMBER OF                 ------------------------------------------------
        SHARES                     6    SHARED VOTING POWER
     BENEFICIALLY                       0
      OWNED BY                  ------------------------------------------------
        EACH                       7    SOLE DISPOSITIVE POWER
      REPORTING                         3,976,625
       PERSON                   ------------------------------------------------
        WITH                       8    SHARED DISPOSITIVE POWER
                                        0

--------- ----------------------------------------------------------------------
   9      AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
          3,976,625

--------- ----------------------------------------------------------------------
   10     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
           [   ]
--------- ----------------------------------------------------------------------
   11     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

          13.7%
--------- ----------------------------------------------------------------------
   12     TYPE OF REPORTING PERSON*

          IN
--------- ----------------------------------------------------------------------
                     * SEE INSTRUCTIONS BEFORE FILLING OUT!







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CUSIP NO.  305158 10 7                13G                  PAGE  3  OF  5  PAGES
                                                                ---    ---
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ITEM 1(A). NAME OF ISSUER:

           FAIRMARKET, INC.
           ---------------------------------------------------------------------

ITEM 1(B). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:

           500 UNICORN PARK DRIVE, WOBURN, MASSACHUSETTS, 01801
           ---------------------------------------------------------------------

ITEM 2(A). NAME OF PERSON FILING:

           SCOTT T. RANDALL
           ---------------------------------------------------------------------

ITEM 2(B). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:

           C/O FAIRMARKET, INC., 500 UNICORN PARK DRIVE, WOBURN, MASSACHUSETTS,
           01801
           ---------------------------------------------------------------------

ITEM 2(C). CITIZENSHIP:

           UNITED STATES
           ---------------------------------------------------------------------

ITEM 2(D). TITLE OF CLASS OF SECURITIES:

           COMMON STOCK, $.001 PAR VALUE
           ---------------------------------------------------------------------

ITEM 2(E). CUSIP NUMBER:

                  305158 10 7
           ---------------------------------------------------------------------

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: N/A

   (a) |_| Broker or dealer registered under Section 15 of the Exchange Act

   (b) |_| Bank as defined in Section 3(a)(6) of the Exchange Act

   (c) |_| Insurance company as defined in Section 3(a)(19) of the Exchange Act

   (d) |_| Investment company registered under Section 8 of the Investment
           Company Act

   (e) |_| An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E)

   (f) |_| An employee benefit plan or endowment fund in accordance with
           Rule 13d-1(b)(1)(ii)(F)

   (g) |_| A parent holding company or control person in accordance with
           Rule 13d-1(b)(1)(ii)(G)

   (h) |_| A savings association as defined in Section 3(b) of the Federal
           Deposit Insurance Act

   (i) |_| A church plan that is excluded from the definition of an
           investment company under Section 3(c)(14) of the Investment Company
           Act

   (j) |_| Group, in accordance with Rule 13d-1(b)(1)(ii)(J)





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CUSIP NO.  305158 10 7                13G                  PAGE  4  OF  5  PAGES
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ITEM 4. OWNERSHIP.


   (a) Amount beneficially owned:

       3,976,625(1)
       -------------------------------------------------------------------------

   (b) Percent of class:

       13.7%(2)
       -------------------------------------------------------------------------

   (c) Number of shares as to which such person has:


       (i)   Sole power to vote or to direct the vote 3,976,625(1)
                                                      --------------------------
       (ii)  Shared power to vote or to direct the vote N/A
                                                        ------------------------
       (iii) Sole power to dispose or to direct the disposition of 3,976,625(1)
                                                                   -------------
       (iv)  Shared power to dispose or to direct the disposition of N/A
                                                                     -----------

ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.

        N/A
        ------------------------------------------------------------------------

ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.

        N/A
        ------------------------------------------------------------------------

ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE
        SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY.

        N/A
        ------------------------------------------------------------------------

ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.

        N/A
        ------------------------------------------------------------------------

ITEM 9. NOTICE OF DISSOLUTION OF GROUP.

        N/A
        ------------------------------------------------------------------------

ITEM 10. CERTIFICATIONS.

         N/A
         -----------------------------------------------------------------------

-----------------

(1)  Includes 3,686,000 shares of Common Stock owned as of December 31, 2001,
     plus options to purchase 290,625 shares of Common Stock exercisable by
     Mr. Randall within 60 days of December 31, 2001.

(2)  Based on 29,061,861 shares of Common Stock outstanding as of December 31,
     2001.






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CUSIP NO.  305158 10 7                13G                  PAGE  5  OF  5  PAGES
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                                    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.


                                             FEBRUARY 6, 2002
                                ------------------------------------------------
                                                   (Date)



                                            /S/ SCOTT T. RANDALL
                                ------------------------------------------------
                                                 (Signature)



                                              SCOTT T. RANDALL
                                ------------------------------------------------
                                                (Name/Title)