AutoBidLive
When eBay® introduced the world to online auctions over 10 years ago, it forever changed the global paradigm for buying and selling goods. Today, Auctions International Inc. (OTC: AUCI) has developed state-of-the-art software that infuses dramatic new efficiencies into the proven successful Internet auction model. Using its state-of-the-art, proprietary software, Auctions International enables virtual auctions to take place 24/7/365 in real time, as opposed to those that occur for a set multi-day period. The Company’s live auctions can help companies move inventory, decrease their dependenceor eliminate the need for, physical auctions, and create a fair trading ground for licensed, professional buyers, sellers and end-users. Auctions International believes its innovative technology platform can maximize returninvestment and reduce the total cost of ownership of nearly any commodity. The first technology application is AutoBidLive Auctions, a wholly owned subsidiary of Auctions International, which offers a very inexpensive method for licensed vehicle dealers and those companies directly associated with the used vehicle market, such as rental companies, financial institutions and insurance companies, to search for and trade vehicles all over North America. Officially launched in July 2007, AutoBidLive has the potential to drive near-term growth, while the Company pursues acquisitions, technology licensing agreements and new sales verticals to build long-term shareholder value.
AutoBidLive Auctions
AutoBidLive Auctions Inc. utilizes proprietary, state of the art software development tools that are fully scalable to enable rapid expansion as demand grows. During the development process, Auctions International developed an advisory group consisting of used car market experts to provide necessary information to develop the AutoBidLive application that was exactly as required by the industry. The software allows dealers to post all the cars they want with as much detail and as many pictures, all for free. Rather than focus on the retail market, this virtual trading floor is only for licensed wholesalers and is open 24 hours a day, 365 days a year. Dealers may post as many vehicles as 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. Sellers may post “Buy Now” prices, set a reserve bid and accept real-time bids. Sellers are advised immediately when there is a “Buy Now” offer or bid on one of their posted vehicles. When a deal is agreed to, Auctions International receives a fee and the buyer and seller are connected to finalize the details such as payment method and transportation.
Large, Accessible Market
In North America alone, over 60,000 car dealers trade over 3 million used vehicles each month using some formauction. Using AutoBidLive can provide huge exposure for dealers in large or small markets, eliminating the traditional geographic barriers, time and cost constraints associated with attending auctions in-person. Conventional auction companies typically operate auctions in only the large population centers, and smaller markets suffer as a result. This state-of-the-art software enables all legitimate and licensed dealers and those companies that are directly associated with the used vehicle market, such as rental companies, financial institutions and insurance companies, to access used vehicles from all over North America.
Competitive Advantages
Advantages Auctions International steps into the competitive arena by resolving long-standing challenges in the used vehicle marketplace. AutoBidLive can show customers instant bid results on their automobile trade-in. This will aid the pre-owned vehicle manager in establishing a “fair market value” mentality within the customer. AutoBidLive is an extremely beneficial tool, allowing pre-owned vehicle managers to demonstrate their competency and fairness in the marketplace.
Corporate Highlights
Compelling Proposition - Licensed wholesale auto dealers and sellers can search and post detailed listings on AutoBidLive.com for free, taking the cost and time out of attending auctions.
Targeting Multiple Verticals - The Company’s online auction technology is fully scalable and can be used in multiple verticals in the wholesale market, including cars, boats, planes, coins, stamps, industrial products, diamonds, artwork, and livestock such as horses
Strong Upside Potential - Management anticipates generating revenues and positive cash flows in its first year of operations.
Management Expertise - An experienced team of corporate business, finance, technology and automotive sales professionals are uniquely qualified to direct Auctions International’s growth strategies.
Corporate Facts
Most pre-owned managers and dealerships are burdened with a 90-day inventory turnover. If a pre-owned vehicle does not sell within 90 days, the vehicle is usually placed for sale in a local dealer auction. The dealership will try to sell the vehicle for as much as possible, even if they sell it at a loss. Car lot auctions are very expensive; most auction houses charge large fees to sell a vehicle. If the vehicle does not sell, dealers are still required to pay a fee. It is a time consuming and expensive process to detail and clean a car, drive it down to the auction, and wait for a bid.
AutoBidLive 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. A “Bill of Sale” is automatically printed. If the vehicle does not sell, there is no charge for AutoBidLive’s services, a sharp contrast to services such as eBay that charges a listing fee, plus a transaction fee with even one single bid, regardless if the item is sold.
Ready, Set, Go!
According to Forrester Research, online auction sales will grow to $54.3 billion -- or 25% of total U.S. online retail sales -- in 2007. Retailers, portals, and vendors will work to legitimize the format and attract as many consumers as possible to fuel the growth. Proprietary technology that can create a fair trading ground between buyers and sellers will be in high-demand.
Auctions International is one of today’s most exciting emerging-technology companies that is demonstrating how the right online auction technology can create new efficiencies and multiple selling channels in the wholesale market. The Company’s first software application, AutoBidLive, enables detailed, online listings, search capabilities and instant, 24/7 networking with interested, licensed buyers and sellers nationwide. AutoBidLive is on the heels of its North American launch and rapid market adoption is anticipated. Auctions International is deploying aggressive communication strategies to invite dealers to “test drive” the online site. The Company is targeting new and used vehicle dealers, vehicle OEMs, banks and other financial lending centers, rental car companies, and fleet management firms, collectively amounting to over 65,000 potential users.
With revenues generated upon the close of every transaction, an established infrastructure that is easily scalable, and operating costs relatively stable, Auctions International has the potential to rapidly create a profitable organization.
The Summer 2007 commercial launch of AutoBidLive is just the beginning. Auctions International plans to adapt its versatile online auction technology platform to penetrate other verticals in the wholesale market, including cars, boats, planes, coins, stamps, industrial products, diamonds, artwork, and livestock. Additional, new applications of its proprietary technology can deliver an exciting opportunity to form industry partnerships and strategic alliances, attract a wide range of customers numbering in the millions, and secure multiple revenue streams from various commodities, creating the potential to continually increase value for its shareholders.
Company Contacts
U.S.Office
Auctions International Inc.
1005 Terminal Way,Suite 110
Reno,Nevada,USA 89502
1-866-503-AUCI (2824)
info@AuctionsIR.com
www.AuctionsIR.com
Canadian Office
Auctions International Inc.
105-4074 Gellatly Road
Westbank,BC,Canada
V4T-2S8
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