RealTime IT News

Auctions.com, FreeServe Team for Auction Site

Free ISP Freeserve Thursday announced it will enter the ring for online auction fisticuffs in the UK.

Freeserve (FREEV) and US-based Auctions.com will form the Freeserve Auctions Ltd joint venture, of which Freeserve will hold a 80 percent majority.

The auction site is scheduled to launch in November, at which point Classified Ventures' AuctionUniverse.co.uk site will transform into Freeserve Auctions.

"As we evaluated opportunities to partner with a leading online auction company, we were impressed by the level of customer service and support that auctions.com offers," commented John Pluthero, chief executive officer, Freeserve.

"This venture is an important component of our international strategy to introduce our innovative auction technology into new markets," said Tom Finke, president, auctions.com.

Auctions.com also recently announced that Sold.com.au, its Australia venture with media mogul John Fairfax Group Pty. Ltd., has completed more than 40,000 sales worth over AUS$5 million in the last two months.

The UK site will face competition from the eBay (EBAY) and Yahoo! (YHOO) regional sites, as well as local auction wonder QXL.com.