New Feature Empowers Traditional Auction Houses And eBay Users With Real-Time Online Bidding
New York, September 14, 2000—eBay® (NASDAQ: EBAY;www.ebay.com), the world's leading online trading community, today announced the introduction of Live Auctions technology on eBay Great Collections. Providing real-time bidding via the Internet, this new feature allows individuals to participate in the excitement of a traditional live sale from anywhere in the world. For auction houses worldwide, eBay's new Live Auctions feature is a powerful tool that provides unprecedented opportunity to reach a eBay's more than 15 million users, simultaneous to auctions taking place on the auction house floor. Users can monitor and place bids utilizing state-of-the-art, proprietary technology that ensures real-time transmission of bids to and from the auction house. Additionally, online audio streaming will be available on selected auctions.
"We believe that introducing Live Auctions on eBay Great Collections is bringing the excitement of the traditional auction business to the Internet," said Geoff Iddison, general manager of eBay Great Collections. "Live Auctions will open up the traditional auction marketplace to a wider audience and make it possible for individuals to participate anytime, anywhere."
Currently under pilot testing, the Live Auctions feature will be officially rolled out for the Butterfields Auctioneers' October 11, 12, and 13 showroom sale of Treasures from the Hoi An Hoard, a shipwreck cargo of extremely rare late-fifteenth and early-sixteenth century Vietnamese ceramic artifacts.
Before placing bids using eBay's Live Auctions, users can browse auction house catalogs for upcoming sales, or leave absentee bids before the event. Bidders must first sign up for the event online as a registered eBay or eBay Great Collections user, and comply with the auction house's user verification requirements. Then with a click of a button, users can place a bid on Live Auctions and take part in the bidding excitement.
About eBay Inc.
eBay is the world's on-line trading community. Founded in 1995, eBay created a powerful marketplace for the sale of goods and services by a passionate community of individuals and small businesses. On any given day, there are millions of items listed on the site across thousands of categories. eBay has regional sites in over fifty markets across the United States, and country specific sites in the world's top five Internet markets, including Canada, the United Kingdom, Germany, Japan and Australia. With the acquisition in 2000 of Half.com, eBay's community now benefits from a marketplace combining traditional auction-style trading and set-price trading.
Launched October 1999, eBay Great Collections (www.ebaygreatcollections.com) is the Internet's leading destination for art, fine antique and rare collectibles offered and guaranteed by many of the world's great auction houses, galleries and dealers.
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