RealTime IT News

Auction Universe to Offer Fixed-Price Transactions

New York City-based Auction Universe has expanded beyond auctions by offering a new fixed priced service called FirstBidWins.

This service will allow any seller to open a "storefront" on the Auction Universe network. Merchants or consumers who simply want to get a flat price for their merchandise can list their item, name their price, and the first offer that comes in at that price is the winner.

FirstBidWins sellers have access to a larger base of potential customers made available through the Internet while maintaining a traditional retail pricing model, the company said.

"FirstBidWins allows sellers--both retailers and individuals--to tap into the lucrative online market with a simple transaction format that is safe and easy," said Larry Schwartz, president and general manager of Auction Universe.

FirstBidWins is covered by Bid$afe, Auction Universe's security feature, and a money-back guarantee.

"We designed FirstBidWins for sellers when they have an item they want to sell quickly and not wait for an auction to close," said Schwartz. "This service was created in response to a need we heard in the marketplace from local merchants and our affiliate newspaper sites."

Auction Universe, a Classified Ventures company, operates its own buying and selling site plus a network of locally branded Web sites of more than 600 affiliated media companies.