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GiftXchange.com Finds Home For Errant Gifts

You know that awkward feeling when your grandmother finally gives you that Sony PlayStation you wanted so badly a year ago for Christmas, but had to buy it yourself because you couldn't wait? Its casts the much desired gift in a uncompromising light of futility. What do you need two PlayStations for?

Kill the chagrin. Send your browser searching online for GiftXchange.com, a new person-to-person online gift exchange community.

The GiftXchange is a place where people may get rid of all the things they don't want or need -- be it is for Christmas, birthdays or any holiday. And it is free. However, clients must pay shipping costs.

Run buy Munich's Burda New Media GmbH, it operates on a similar premise to eBay (EBAY) or priceline.com's (PCLN) impending "YardSale," but people exchange only items -- not money.

"The point of our existence is to enable people to unload their least favorite presents and exchange them for the things they really want -- and to have fun whilst they're doing it," said Imdat Solak, one of the founders of GiftXchange.com. "On the other hand, we could be providing people with the platform for the largest book, music and video exchange in the world."

Gifts currently offered include Stephen King's "Hearts in Atlantis," a Palm Pilot IIIx, a Nokia cell phone and various software programs.