SOURCE: Auction Floor, Inc.

October 09, 2007 08:30 ET

Auction Floor, Inc. Announces Commercial Launch Date for Its "AuctionLive" Online Platform

SCOTTSDALE, AZ--(Marketwire - October 9, 2007) - Auction Floor, Inc. (PINKSHEETS: AFLR) (FRANKFURT: ZUI), a leading web-based marketer and technology provider to the auction industry, today announced it has successfully completed a series of 27 live auction events using the Auction Floor beta platform. The Company's "AuctionLive" Platform is scheduled for a commercial launch date of October 22, 2007. The Company has instituted a 1-800 number (877-282-3567) and established customer support operations to handle sales and service.

Online bidder participation on the AuctionLive platform averaged 47% of all placed bids and 40% of all winning bids came from online bidders as reported by the Company over the past seven auctions. The industry average of online participation is presently measured at 15%.

Management to Plan New Initiative in Real Estate Live Auction Market

According to the National Auctioneers Association, Real Estate property sales via Auction on the Internet have increased 39.2% a year over the past three years and accelerating. The total value of Auction revenue generated from Real Estate sales at Auction reached $51.2 Billion in 2006. According to the National Association of Realtors, 1 in 3 properties will eventually be sold at Auction and the Internet will play a vital role in exposing and delivering prospective bidders to Real Estate Auction events.

"The Company intends to leverage the unique attributes of its 'AuctionLive' platform to build scalable revenues with a focus on key growth categories. The convenience, efficiency, and safety of the 'AuctionLive' platform for bidders, property owners, and their agents position us well to capitalize on the growth of this market segment," said CEO, Lou Sagar.

Through its web site, www.auctionfloor.com, the Company attracts and aggregates bidders segmented by preferences, using a suite of bidding tools and services with a platform fully integrated into the eBay server system, complemented with its Auction Manager tools that enable fast and reliable uploading of text, and images.

CAUTIONARY STATEMENTS

This document does not constitute an offer to sell or a solicitation of an offer to buy any of our securities. This document contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements may include projections of matters that affect revenue, the ability to develop or license certain technologies; operating expenses or net earnings; projections of capital expenditures; projections of growth; hiring plans; plans for future operations; financing needs or plans; plans relating to the company's products and services; and assumptions relating to the foregoing.

Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking information.

Contact Information

  • Contact:
    Auction Floor, Inc.
    877-282-3567