Thursday, September 3, 1998 Published at 23:44 GMT 00:44 UK
Auctions raise Net bid
Everything's coming up roses for online auctions
By Internet Correspondent Chris Nuttall
The brainchild of the Swedish electronic commerce group, Infinicom, the site claims to be Europe's first Internet auction service provider.
He quoted research predicting auctions would become half of the e-commerce market by 2002, rising from $5bn to $52bn.
Quick growth for Quixell
It has specialised in computer equipment and consumer electronics but intends to start bids for jewellery and holidays.
Traditional auctioneers hammer advantages
Traditional auctioneers are starting to respond to the Internet challenge.
Bonhams' Internet site informs buyers and sellers about successful bids and IT director Rod Funston says live online bidding will come.
The company is putting most of its faith in interactive TV at present, linking up with The Auction Channel, which is launched on Saturday.
Bonhams insists it will concentrate on the top end of the market. But it admits its first interactive auction is featuring the charity sale of the All Saints pop group's knickers.
Trade in the United States dwarfs the rest of the world. The largest company, Ebay.com, is one of the most visited sites on the Internet, has more than half a million people registered to bid and holds some 200,000 auctions a day.