CQout tops half a million auctions making it the 2nd largest UK auction site Thursday 4 October 2007 PDF Print 4 October 07 - Reading, UK based internet auction site CQout Ltd (as in ‘Seek You Out’) this month celebrates having over half a million items for sale on www.CQout.com for the first time, cementing its claim to be the UK’s second largest internet auction site. CQout was set up by three London Business School graduates in late 1999, and since then the company has grown quietly by word of mouth, content to watch other auction sites come and go while developing its own solid reputation for security and customer service to the point where it now has users in over 50 countries. “It took the best part of seven years to reach the quarter million mark, which we did in December 2006, but it’s only taken eight months to double that figure to over half a million items live at any one time. At the moment we are up to 600,000 auctions,” said CQout co-founder and Managing Director Siamak Bashi. From the start CQout has insisted on a rigorous validation policy to ensure users are genuine. This policy has proved contentious at times but it has ensured fraudsters and scammers are kept out protecting everyone using the site. “Growing in the shadow of the giant that our customers refer to as ‘Feebay’ hasn’t been too difficult as we really believe that people should have a choice, whether it’s on the high street or on the internet,” said Siamak Bashi. “Our view is that people do sometimes need help and value real customer service, so if you call us, you’ll get through to a real person who’ll help deal with a problem or offer advice and unlike some others we do respond to email.” CQout provides a different type of auction service to the market leader. CQout charges every new user a one-off registration fee of £2.00. The fee covers the administrative costs of validating user details to create and maintain a secure environment where buyers and sellers can trust that goods will be delivered, items paid for, and that time wasting bids will not be made. The site also operates a 'three strikes and you're out' policy on negative feedback. Three justified negative feedback comments from purchasers will have a seller banned for life. Rigorous security prevents banned users from re-registering with different details. “Our growth comes from our personal service as well as simple economics,” said Siamak Bashi. “If the cost of selling goods is too high, sellers will look for an alternative and our ‘no sale, no fee’ policy can make a real difference to the ‘bottom line’ of a big seller.” CQout does not charge listing fees for standard listings (hence 'no sale, no fee'), and fees for all optional extras are all clearly visible. New users can also see how this compares to other sites by using a fee comparison table By not spending huge sums on advertising CQout has channeled its resources into first class customer service. The team offers sellers of all sizes useful tools such as an Excel based up-loader that can import listings from a range of formats, automatic re-listing of unsold items as well as search statistics. “In the true spirit of providing choice, people don’t have to use us exclusively, and many of our users list on other auction sites as well,” said Tony Newton, CQout director and co-founder. “But it doesn’t cost anything to list items on CQout, so you have nothing to lose and everything to gain from an additional shop window for your products.” -Ends- Paul Smyth River PR M: 07968 942 325 T: 01491 573 302 www.riverpr.co.uk This press release was distributed by ResponseSource Press Release Wire on behalf of River PR in the following categories: Consumer Technology, for more information visit http://pressreleasewire.responsesource.com/about.