According to Access Markets International, over one million small businesses will use Web-based auctions by year's end. The popularity of online auctions as a sales channel for businesses is increasing as sellers capitalize on the ability to merchandise products on heavily trafficked exchanges, reducing customer acquisition costs. We will continue to provide innovative solutions and consistently upgrade our offerings as our seller members have played a great role in establishing us as the clear choice and market leader for auction services. The centralized, automated module includes customized email notification for winning bidders, packing slip and invoice printing, electronic payment acceptance and shipping insurance and tracking options. Sellers are now able to make more efficient use of their resources by cutting down on the high administrative costs of closing an auction, securing payment, and shipping the product.
Buyers can complete their purchases in less time and with greater confidence.
Now sellers can also easily notify customers of upcoming auctions and provide a first-look opportunity to bid on items of known interest. The growth of business-based auction sales is expected to roughly double over the next few years, and will drive approximately 66 percent of the online auction market by 2005, according to Forrester Research. The services are being offered free of charge for an introductory period. The company also publishes daily content on the auction industry, hosts the industry's premier online appraisal service, and has the most active independent message boards of its kind.