eBid combines auctions, 'wanted' ads, swaps and co-buying online Tuesday 1 May 2001 PDF Print In line with the phenomenal success of reverse auctions in the US, eBid (www.ebid.co.uk) has dynamically expanded its customer-centric, UK-specific online auction offering to include a 'wanted' facility, plus swap and co-buy services. From today, eBid incorporates eBid.auctions, eBid.wanted, eBid.swap and eBid.co-buy. This is the first time that all four formats have been made available on one portal. Furthermore, eBid has applied its free listings policy to each auction-based service (no buyer means no fee to site users), making it distinct from the numerous online auction companies that charge users for every listing made. eBid.wanted, a reverse auction format, functions similarly to traditional classified 'wanted' ads, except online. Rather than searching through existing items on sale, eBid.wanted users post details of a specific item they want to buy. eBid sellers then make offers online if they have what the buyer is looking for. To optimise this process, sellers can list all their items within eBid's 'myInterests' section, which facilitates an automatic email alert if the 'wanted' ad matches the sellers' description. At the end of the auction period, the person listing the 'wanted' ad can decide which item and from which member they wish to buy from. eBid.swap allows users to list an item, new or second-hand, that they would like to swap for something else. Swap participants are able to list as many as five different items that they would like in return. Once the swap listing has expired, the person that initiated the swap will be invited to review all swap bids and (although not obliged) can pick the member he or she wishes to deal with. eBid.co-buy is a co-operative buying facility that allows eBid users to lower prices by purchasing products or services in a group. By gathering together as many members as possible wishing to make the same purchase, eBid can obtain the best price on leading brand items. To achieve this eBid deals directly with the manufacturers and suppliers, in association with dealpartners.com. "The introduction of eBid.wanted and eBid.swap completes our offering as an all-in-one online auction package for UK internet users", said Mark Wilkinson, Company Director of eBid. "Furthermore, the simultaneous launch of eBid.co-buy ensures that our members have the greatest number of options, the best prices - and the most fun - when buying, selling, bidding or swapping online." With 13.5 million home internet users currently in the UK (source: Jupiter MMXI), this means that each and every one has the opportunity to sell unwanted goods as part of a 'spring clean', do a swap, or purchase a specific item, all from one easy-to-use online portal. And because eBid is UK-specific, every transaction is Sterling-based and transportation of goods can be arranged without too much expense. eBid's ethos is to put the customer first. Users are protected by site features including eBid escrow - where money is kept by a third party (FrugalEscrow Ltd.) until both buyer and seller have stated that they are happy with the transaction - and eBid insurance, which provides free insurance cover to all users, up to the value of £150, in the unlikely event that they do not receive the goods paid for. In addition, eBid has just upgraded its security system - to reassure customers when transacting with unknown individuals - by introducing bronze to platinum ratings. Background on eBid Founded in March 1999, eBid prides itself on a solid business plan that is already generating profits. As online auction houses are one of the few 'pure' Internet applications - i.e. the business model cannot be replicated offline - eBid is well-placed for longevity. Revenues are generated via a small commission on any sale that takes place on the original auction facility. eBid is distinct from competitors due to its multi-service platform, UK customer focus, free listings, extensive security features and loyal, highly active online auction community. For further information contact: Sally Bratton, PR Director on 01895 676139 or 07930 301601 or email: firstname.lastname@example.org This press release was distributed by ResponseSource Press Release Wire on behalf of Bratton PR (Middlesex) in the following categories: Consumer Technology, Personal Finance, Business & Finance, Computing & Telecoms, for more information visit https://pressreleasewire.responsesource.com/about.