RealTime IT News

theglobe.com Adds Auction Services

Online community theglobe.com got into the auction game Tuesday with a multi-million-dollar strategic partnership with Boxlot.com to create a customized, integrated auction site.

The guaranteed $2.25 million, two-year agreement establishes auction firm Boxlot as the exclusive person-to-person auction at theglobe.com. The auction site is scheduled to debut in the second quarter of 1999.

With the new services, theglobe.com members can buy and sell merchandise within the online community, which can be customized into the "MyGlobe" personalization service. The co-branded auction site will be integrated within theglobe.com's different themes of interest so that users can more easily find the kind of merchandise they are looking for, the companies said.

As online auctions sprout up all over the Net, theglobe.com wants to offer a comprehensive auction site for its reported 9.3 million members, said Todd Krizelman, theglobe.com's co-chief executive officer.

"The combination of Boxlot's state-of-the-art auction system with the globe.com's vibrant community will enable our users to buy and sell merchandise from the comforts of their home or office," he said. "This partnership marks another step towards enhancing and personalizing the online shopping experience at theglobe.com."