LibertyOne has announced it will go live with its online business-to-consumer and business-to-business auction site by the middle of next week.
uBid, which is based on its counterpart in the US, will provide an online
auction environment for established business vendors.
CEO Warren Lee, said uBid would not be competing directly with the raft of
consumer-to-consumer auction sites already in the market.
“uBid in Australia will allow consumers and businesses to bid for goods and
services supplied by reputable vendors in the areas of computer equipment,
consumer electronics, homewares and, ultimately, a range of other
categories,” Lee said.
Current vendors signed up with LibertyOne include IBM, Philips, JVC and
Hewlett-Packard. Goods will start at A$9, with no reserve prices.
LibertyOne believes the service will have significant broad market appeal
as the uBid business model leverages the reputation of the vendor/seller
and will help to overcome the traditional barriers to online commerce.
As part of the original agreement with US-based uBid, LibertyOne has the
option to establish auction sites in nine other countries throughout the
Asia Pacific region.
LibertyOne’s move comes at the same time as New Ltd prepares to launch its
Go Fish auction site this month.
In related news, LibertyOne has seen its shares take a dive over recent
days with prices closing at AUS$1.63 yesterday, down some 25 cents from a
fortnight ago.