Scientific online auction site LabX said it hit $1 million in bidding in a one-day auction event. The Quality Lab Excess auction, held April 15 2004, attracted more than 6,300 bids on 646 listings, the company said, and recorded an 83% sell-through rate.

"The growth of LabX proves that niche auction marketplaces can thrive in the tail winds of generic auction giants like eBay and Yahoo," said Bob Kafato, CEO of LabX. The next LabX auction event will be held June 2004. Details of this event and other upcoming auctions can be found on the LabX Web site.

LabX features used, new, refurbished and surplus equipment and has been operating since 1995. Registration and wanted-equipment listings are free.

http://www.labx.com