RealTime IT News

FairMarket Offers Hosted Web Auction Services

FairMarket Inc., a business-to-business auction site, said it will host customized auctions for businesses that want to provide auction services to their Web users.

The company intends to enable these businesses to customize the auction software with their own Web site's look and feel, while capitalizing on the capabilities of FairMarket's software.

Two types of hosted auctions are available. Community AuctionPlaces provide person-to-person auctions. Merchant AuctionPlaces will allow retailers to generate incremental revenue by creating a new sales channel.

"FairMarket has amassed a wealth of knowledge in auction software intricacies through actual experience hosting online auctions," said Scott T. Randall, FairMarket founder and CEO. "We now offer those services in response to overwhelming demand from businesses wanting to realize the revenue and "site stickiness" potential. Community and business sites will (be able to) license the software and hosting services. . . "

Monthly fees are based on site activity. Packages begin at $1,000 per month.