 Classifieds |  Post and  Browse ads from various other categories |
|
|  | Cyber News Service
You are here:Home > Press > Cyber News Service
|
Saturday, August 14, 1999
Chennai based Cyber Commerce Private Limited, an associate of Cybernet Software Systems, Inc. of the USA, launched www.auctionindia.com, India's first ever website for auction and sale of industrial assets such as machinery, plant or total factories and businesses, recently.
AuctionIndia seeks to bridge that gap by ensuring efficient communication between the holder of an investment asset and its most suited future users. The site enables buyers and sellers to list their offers and conduct selective auctions.
AuctionIndia presently offers free listing to buyers and sellers of plant, equipment, machine, whole factory or business. They are encouraged to provide detailed information to all users who can go through the offers listed and make their choices. Customers can also use the service even if they do not have a computer, through fax and other modes of communication.
C E Karunakaran, Co-promoter said, "within few weeks of starting, the site has listed more than 500 machines and dozens of total manufacturing lines and businesses; several buyer-seller interactions are taking place. The auction mode is about to start."
The site caters to all industries and offers two methods of sale to the users - a negotiated sale between the parties and an auction sale.
Internet auction is very popular in the U.S., but is yet to make a beginning in India. The site uses a proven auction software developed by its associate, Cybernet Software Systems, which is presently used very successfully by Internet Auctioneers International Inc., USA to auction off used laboratory equipment.
The Internet auction - whether it is for surplus computer stocks of a company or of factories auctioned off by a financing institution - will be kept open on the site for a few days during which time the bidders can visit the site and place the bids competitively: the bid history and the current highest bid will always be on the screen. Bidders can also ask the site to bid on their behalf up to a certain predetermined value. The computer conducts the entire auction in a transparent manner.
Such online auctions offer the advantage of flexibility and convenience to bidders, who can keep bidding from their homes or offices. Such auctions can also be carried out along with sealed tender procedures.
In addition to conducting auctions of its own, the company offers it auction platform for any business to conduct its own auction for any product or service. |
|
.gif)
Search