LotAuctions is a new online auction site that allows merchandise to be grouped into lots or sold singly. The site debuted June 10, 2003 and was founded by veteran entrepreneur Glenn Hauman.
LotAuctions creates an "electronic marketplace" in which items may be auctioned either individually or in lots. The auction site uses patent-pending technology that helps sellers get the best price for a group of items.
Founder Glenn Hauman explains how LotAuctions works for sellers. "For example, you might have a comic book miniseries consisting of four issues. Issue number three was written by Stephen King, so it's especially valuable. Do you get the best price by selling the series as a whole? Or will you get a better price by selling each issue individually, and hope that the Stephen King Issue sells for a high price? With LotAuctions, you can choose to list your series both as a collection and as four separate items, at the same time! This way, bidders can make the choice for you, and no matter what, you're getting the best deal."
In addition to its lot-grouping software, something not currently offered by any other online auction company, LotAuctions has attracted attention for its anti-sniping/overtime bidding feature, its volume rebates and its lack of listing fees. Such attributes were included specifically in response to feedback the new site's creators have received from patrons of other online auction services.
LotAuctions founder Glenn Hauman was a founder of Hell's Kitchen Systems, Inc., which was purchased by Red Hat Software in 2000 for $85.6 million. He also founded BiblioBytes, a pioneer electronic publishing site. In his spare time, Hauman writes for X-Men and Star Trek. His latest book, No Surrender, is in stores now. LotAuctions is based in Weehawken, New Jersey.
http://www.lotauctions.com
