Latin American Auction Firm Opens in Europe

Latin American online auctioneer
announced Tuesday its first European service in Spain,
supported by an office in Madrid.

At the same time, also announced services
for Colombia, supported by an office in Bogota.

Marcos Galperin, chief executive officer of,
said his company’s goal was to become the leading auction
site for the Spanish and Portuguese speaking world.

“We made the decision to enter the European market after
an impressive track record of success in Latin America and
the U.S.,” said Galperin. is entering a highly competitive online
auction market in Europe where both home-grown and overseas
companies are battling for market share. However, Spain has
seen an increase in the number of Internet users from
1.8 million in 1998 to 2.75 million in 1999, and is clearly
a market with big potential for Latin American entrepreneurs.

Sonia Fernandez, general manager of’s
Spanish operation, said that proprietary technology allows
the company to provide specific solutions for businesses
and charitable organizations, giving it a distinct edge
over the competition.

In an eight-month period, has launched
sites in Argentina, Brazil, Mexico, Uruguay, Chile, Colombia,
Spain and the United States., and claims to have processed
over 25,000 transactions valued more than $7.5 million.

Among the many categories it covers are automobiles, sports gear,
pets, collectibles, books, stamps, computing and tourism.

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