First Transaction at AutoBidLive.com
Published September 29th, 2008
Auctions International Inc., a technology company that owns and markets proprietary software that enables real time online auctions of virtually any commodity in the wholesale market, announced today that the first sale was registered and completed at wwwAutoBidLive.com on August 18, 2008.
Doug Mann, President and CEO, said, “The first sale was longer in coming than was anticipated, but the software worked flawlessly and reported all the bidding activity to management. The fact that this milestone sale went through automatically and without any intervention can be attributed to the excellence of site design and software quality.”
“This is the solid proof that we needed. At least two dealers have decided it was more cost effective to use our process than a physical auction. We are extremely pleased and look forward to additional sales running through the site as dealers become aware of www.AutoBidLive.com and its unique auction platform that allows dealers to expose all inventories at virtually no risk and minimal effort — the seller ultimately decides how and when to transact the sale. There is no cost to the dealer to get this added exposure to help move product. As long as the selling dealer obtains his price, it really doesn’t matter where the car is sold. When a trade is completed, the buyer and seller each pay a $100 fee. Today there are 1,200 vehicles posted on the site from various dealers in USA and Canada,” added Mann.
