KELOWNA, BC, May 28 (MARKET WIRE) --
Auctions International Inc. (PINKSHEETS: AUCI), a technology company that owns
and markets proprietary software that enables real time online auctions of
virtually any commodity in the wholesale market, announced today that the
technical development and testing has been completed with Cherry Auto, Inc.
of Suffolk, VA (http://cherryautonet.com/) to push Cherry Auto clients'
inventories to the AutoBidLive website on a nightly basis.
Cherry Auto Inc.'s car and truck inventories from dealers will now be posted
on AutoBidLive's (www.autobidlive.com) dealer-to-dealer trading platform.
Scott Ehrenfried, President & CEO of Cherry Auto Inc., said, "The
development
work has been completed for the formats provided by AutoBidLive. We are
pleased to advise our clients that we have expanded our sales program by
offering them another venue that provides market exposure for their vehicles. We
will be able to give AutoBidLive a daily load of our dealers' current
inventory, which represents over 40 dealers and 5,000 vehicles. AutoBidLive's
unique auction platform allows dealers to expose all inventories at virtually no
risk and minimal effort -- the seller ultimately decides how and when to
transact."
Mr. Ehrenfried further stated, "With current market conditions in the USA
auto industry, dealers need to use every tool available to them to get
increased exposure to achieve greater productivity and reduce cost of sales.
Both companies will complement the other through joint marketing of our
relationship throughout the North American Auto Dealer Network."
Douglas Mann, President of Auctions International, Inc., said, "We were very
pleased when we announced the relationship with Cherry Auto and now that the
work has been done to get the dealer inventory posted, we look forward to
attracting even more dealers. We plan to build a massive inventory of US
vehicles allowing us to facilitate trades between dealers on a regional basis.
Canadian dealers always look to the US markets to identify value priced cars
that they can sell to their customers in Canada. This will be a transparent
implementation from the dealer perspective and as long as the selling dealer
obtains his price, it really doesn't matter where the car is sold. When a trade
is completed, the buyer and seller each pay a fee."
About Cherry Auto, Inc.
Cherry Auto, Inc. (www.cherryautonet.com) exposes used vehicles to literally
thousands of buyers on the World Wide Web. The Internet has proven to be the
most cost effective and informative method of advertising. The discriminating
vehicle
shopper wants information fast. Utilizing the Internet and a medium such as
Cherry Auto to advertise vehicle(s) is an excellent way of having an
Internet presence. Dealers are offered the opportunity to post detailed
vehicle descriptions of their vehicle inventory, coupled with multiple vehicle
photos and the ability to "tell the story" about the vehicle or dealership,
along with contact options.
Cherry Auto services the Hampton Roads region of Virginia. Cherry Auto
alsohas dedicated operations in northeast North Carolina, Richmond, northern
Virginia
and Maryland. Call 757-925-4976 or email sales@cherryautonet.com to find out
more.
About Auctions International Inc.
Through its wholly owned subsidiary AutoBidLive, Auctions International Inc.
is set to
bring together over 65,000 North American licensed Automobile dealers into a
dynamic online auction reducing their dependence on physical auctions. By
utilizing
state-of-the-art technology, dealers can make bids in real time, move
inventory, and search and buy vehicles specific to consumer's needs. For more
information, visit www.AutoBidLive.com.
In addition to online automobile auctions for the wholesale market, Auctions
International Inc. has identified multiple commodity verticals, which could
benefit
from its leading-edge online auction technology platform. Additional information
about Auctions International Inc. as well as corporate structure and stock
capitalization can be viewed on the Company's website at
www.auctionsintinc.com or www.AuctionsIR.com.
This press release contains or may contain forward-looking statements such
as
statements regarding the Company's growth and profitability, growth strategy,
liquidity, access to public markets, operating expense reduction, and trends in
the
industry in which the Company operates. The forward-looking statements
contained in this press release are also subject to other risks and
uncertainties, including those more fully described in the Company's filings
with the Securities and Exchange Commission. The Company assumes no
obligation to update these forward-looking statements to reflect actual
results, changes in risks, uncertainties or assumptions underlying or affecting
such
statements, or for prospective events that may have a retroactive effect.
For Auctions International, contact:
Doug Mann
President and CEO
Auctions International Inc.
dgmann@auctionsintinc.com
250-317-8885
www.auctionsintinc.com
AutoBidLive Auctions Inc. www.autobidlive.com
For Cherry Auto Inc., contact:
Scott Ehrenfried
President & CEO
Cherry Auto, Inc.
757-255-2419
sehrenfried@cherryautonet.com
www.cherryautonet.com
Copyright 2008, Market Wire, All rights reserved.
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