Alchemy Is Back!
What is Alchemy? It's a request for proposal system. Let's say your mom gave you a beautiful bracelet that you loved but it was damaged, or lost, or stolen. Let's say you have a photo of it. Post the photo on Alchemy and let Etsy's jewelry makers send you proposals to remake it. If you like the jewler and the price, you can say yes and have it remade for you.
That's one use case, but there are plenty of them. Anything you can conceive of being handmade, you can submit via Alchemy and get bids back. It's rent a coder for handmade stuff.
When Etsy rolled out V2 back in the fall of 2006, they had to scrap Alchemy. And it's been gone from Etsy for about 18 months. Everyone wanted it back, most of all the Etsy team.
It's back as of today. Yay.