RealTime IT News

Auction Universe Rolls Out Live Auction Service

Auction Universe in New York City, which operates an interactive marketplace comprised of www.auctionuniverse.com and a network of online, telephone, and print opportunities for buying and selling, introduced a real-time auction in partnership with BidLive.

"This technology is truly a breakthrough for online auctions, setting precedent in the industry while giving people the ability to interact and bid with the other buyers and collectors, much like in a real world auction," said Larry Schwartz, CEO and president of Auction Universe.

Auction Universe, in partnership with BidLive, said it will introduce live auctions, at a specific time each night, in a virtual live room with an audible auctioneer, images and animation.

With BidLive's Java software, online users can engage in active and fast- moving auctions while meeting other bidders whose names appear on the countdown screen, the company said.

"A year from now it will be the standard," said Seth Tapper, president of Live-Shop and founder of BidLive Java software.

Auction Universe users can bid in auctions ranging from 1 to 20 minutes on items in all of the categories. Online shoppers no longer need to browse through flat Web "catalogue" pages, but can bid and sell in open, interactive auction arenas. Auction Universe is a Times Mirror Company.