FairMarket Opens Auctions in Australia

Online auctioneer FairMarket Inc. Thursday made its
first overseas foray.

The auction network will launch goFish in Australia in partnership
with News Ltd.’s online business unit, News Interactive. However,
GoFish will not take part in the recently announced FairMarket Network.

FairMarket promised to follow up on the debut with entry into other global
markets, through partnerships within each region.

The goFish site unveils the first online auto auctions in Australia, in
addition to its usual cavalry of items.

“Partnering with FairMarket to build goFish, we were able to put a best-
of-breed auction in place quickly by working together on site
in Australia and in the U.S.,” said Menno Veeneklaas, goFish’s general
manager.

FairMarket and goFish will continue to work
together to provide hosting and support including security and fraud
prevention, billing, collection and customer service in Australia.
FairMarket says it intends to offer the similar infrastructure and service
support in its future ventures.

FairMarket will be the third US-based auction site to hit the Australia
market in less than a month, following the much-anticipated eBay Australia launch and the upcoming
uBid debut.