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November 1999

Chennai based Cyber Commerce Private Limited has launched auctionindia.com, touted to be the first website for auction and sale of industrial goods in the country. The site offers two methods of sale to the user: a negotiated sale between parties and an auction sale. The site offers free listings to buyers and sellers of plant, equipment, machine, whole factory or business. Company sources say that the site provides an exhaustive list of information conveniently indexed and categorised. To begin an auction, sellers will have to list their offers with descriptions and photographs. Buyers will have to register to participate in an online auction.