Auction site uBid.com (http://www.ubid.com)announced the launch of a new fixed-price feature called “uBuy It Now” that allows consumers to complete purchases on brand name items at a fixed price without having to wait for an auction to end. There is no charge to sellers for using the new optional feature.

“uBuy It Now is the next step in uBid’s evolution and illustrates the opportunity for growth within the uBid business model,” said Tim Takesue, acting CEO of uBid. “We are excited about this feature, as it allows us to target those shoppers only interested in straight sales."

uBid has more than 3 million registered users and offers consumers and businesses three ways to buy and sell. In addition to uBid’s own auction listings, called uBid Direct, uBid features auctions listed by uBid-approved businesses and backed by uBid or brand warranties (called uBid Preferred Partner). uBid also features auctions listed by consumers through a service called uBid Consumer Exchange.

uBid's online auctions feature a rotating selection of more than 12,000 products daily in 16 different product categories, providing consumers and small to mid-sized businesses with the opportunity to purchase a wide range of brand name merchandise, often at greatly reduced prices, through live-action bidding.