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Auction Site Planned for Millionaires--and Wannabes

The founder of the Robb Report is launching Millionaire.com, an e-commerce and auction Web site that is expected to be active on or before Jan. 15, 1999.

"We will be utilizing technology, popularized by companies such as eBay and Cybershop in order to connect buyers and sellers of luxury items including fantasy shopping, art, antiques, exotic travel, yachts, classic autos, real estate, premium cigars, fine dining, interior design, high tech electronics, gems, collectibles, watches, and wine," said Robert L. White, CEO, creator and founder of the Robb Report. "If it is distinctive, upscale and world class it will be available on Millionaire.com."

"In the manner that Geocities and theglobe.com built online communities for their particular audience, Millionaire.com's portal will become the premier destination Web site for those seeking the very best the world has to offer," he added.

The company said it has retained International Strategies Pty Ltd of Brisbane, Australia, to design and construct the unique Millionaire.com portal.

An integral part of the site development will be The Global Auction Emporium, with software provided by Opensite Technologies. The auction venue will headline products that are both owned by the company and consigned at its Hilton Head, SC, facility.

The auction site will ultimately serve as a clearinghouse featuring products from hundreds of upscale auction houses around the world, accessible via a search feature. It will also be possible, without any additional software requirements, for auction houses and galleries to place items directly onto Millionaire.com's listing pages.

The site will include useful tools for users, such as e-mail access, unique personal shopping tools, a financial section including financial news, stock reports, stock quotes and investment articles especially written for Millionaire.com, the company said.

Millionaire.com also announced the acquisition of Millionaire magazine, an advertiser supported "coffee table" publication focused on displaying upscale products and providing editorial content for the Millionaire lifestyle. The editorial department of the magazine is made up of a staff of 23 people and is headed by Dan Gleason, former editor of the Robb Report. Details of the acquisition were not disclosed.



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