RealTime IT News

Classifieds2000 Launches Online Auctions Service

Classifieds2000 Inc. launched a new auction service, offering consumers the chance to bid online in real time for a range of merchandise, including computers, collectibles, toys and stereo equipment.

The idea is to create a one-stop service for consumers who want to buy and sell merchandise on the Web.

The new auction service will be available to online buyers through more than 100 affiliated Web sites, the company said.

"Online auctions are the perfect complement to our existing classifieds service," said Sani El-Fishawy, president and co-founder of Classifieds2000. "Auctions will enhance the overall experience of our customers. For example, we know that buyers typically look for a specific item, at the lowest price possible. How they buy that item, through the classifieds or through an auction, is secondary."

Classifieds2000 said that search and sort capabilities enable buyers to simultaneously search both classified ads and auction items. In addition, sellers can choose the duration, day, and time they want the auction to end, add a photo, or convert their Classifieds2000 classified ad to an auction ad. Auctions can last from three days to two weeks. If there is any bidding in the final 10 minutes, the auction is extended in 10-minute increments.

To help build a sense of community, Auction users are encouraged to post comments, either positive or negative, about their experiences with individual buyers or sellers to help future users decide whether to conduct business with a particular individual. In addition, Classifieds2000 offers third-party transaction services to securely facilitate private-party transactions.

For the first two months, it will be free to users to place an auction ad, and all auction items will receive premium positioning to ensure high visibility.

Meanwhile, parent company Excite said it also will use the auction technology for its users at excite.com as a component of Excite Classifieds.