Enables Car Dealerships To Conduct Live, Online Auctions for Vehicle Sales
KELOWNA, British Columbia, Aug. 21 /CNW/ -- Auctions International Inc.
(OTC: AUCI), a technology company that owns and markets proprietary software
to enable real time online auctions of virtually any product or commodity for
use by the wholesale market, has launched its AutoBidLive ("ABL") website
auction platform at http://www.AutoBidLive.com.
"Since we began trading on June 27, 2007, we have been diligently
preparing for the release of our first technology application, AutoBidLive. We
are extremely pleased to announce our revolutionary live auction platform is
operating online and already has attracted key members of the wholesale
automotive market community. With this launch, we've reached our first key
milestone in demonstrating the reliability and marketability of our
technology," said president of Auctions International Inc. Douglas Mann.
Aimed at the more than 65,000 North American dealerships and companies
associated with the used vehicle market, such as rental companies, financial
institutions, and insurance companies, ABL creates a virtual trading floor
open 24 hours a day, 365 days a year.
Dealers can easily sign up on the ABL website for free and post as many
vehicles they desire with as many photos as they wish and with as much detail
that they feel will help to get to the right buyer, all at no cost.
ABL saves the dealership and the pre-owned vehicle manager time by
listing the vehicle directly on an established buying network. All the dealer
has to do is select the highest posted bid. At that point the vehicle is sold.
If the vehicle does not sell, there is no charge for ABL's services, a sharp
contrast to other online auction services that charge a listing fee plus a
transaction fee with even one single bid, regardless if the item is sold.
About Auctions International Inc.
Through its wholly-owned subsidiary AutoBidLive, Auctions International
Inc. is set to bring together over 65,000 North American licensed pre-owned
auto dealers into a dynamic online auction reducing their dependence on
physical auctions. By utilizing state-of-the-art technology, dealers can make
bids in real time, move inventory, and search and buy vehicles specific to
consumer's needs. In addition to online automobile auctions for the wholesale
market, Auctions International Inc. has identified multiple commodity
verticals which could benefit from its leading-edge online auction technology
platform. Additional information about Auctions International Inc. as well as
corporate structure and stock capitalization can be viewed on the Company's
website at http://www.AuctionsIR.com.
This press release contains or may contain forward-looking statements
such as statements regarding the Company's growth and profitability, growth
strategy, liquidity, access to public markets, operating expense reduction,
and trends in the industry in which the Company operates. The forward-looking
statements contained in this press release are also subject to other risks and
uncertainties, including those more fully described in the Company's filings
with the Securities and Exchange Commission. The Company assumes no obligation
to update these forward-looking statements to reflect actual results, changes
in risks, uncertainties or assumptions underlying or affecting such
statements, or for prospective events that may have a retroactive effect.
For further information:
For further information: Investor Relations - Canada, CanVox
Communications Inc., 1-866-503-AUCI - 2824 -, firstname.lastname@example.org; or
Investor Relations - U.S., Rick McCaffrey of OTC Financial Network for
Auctions International Inc., +1-781-444-6100, Ext. 621, email@example.com Web