SOURCE: Auctions International Inc.
April 24, 2008 08:30 ET
Auctions International Inc. Enters Into Alliance With Cherry Auto Inc. for Joint Marketing of Dealer Inventory
Adds Over 5,000 Vehicle Listings and 40 Dealers to AutoBidLive.com
KELOWNA, BC--(Marketwire - April 24, 2008) - 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 it has entered into an industry
alliance with Cherry Auto Inc. of Suffolk, VA (http://cherryautonet.com/)
to provide car dealers access to another segment of the automotive sales
Auctions International has teamed with Cherry Auto Inc. to bundle Car and
Truck inventories from Cherry Auto's dealers with AutoBidLive's
(www.autobidlive.com) dealer-to-dealer trading platform.
Scott Ehrenfried, President & CEO of Cherry Auto Inc., said, "With this new
alliance, we are pleased to expand our sales program by offering our
customers another venue to provide market exposure for their vehicles. We
will be able to provide 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.
"We look forward to providing our clients with dramatically increased
exposure producing greater productivity as a result of this strategic
relationship. Each of our companies will complement the other through joint
marketing of our relationship throughout the North American Auto Dealer
Douglas Mann, President of Auctions International Inc., said, "This
relationship with Cherry Auto Inc. is a win situation for everyone,
especially the car dealer that needs to build market exposure at a time
when vehicle sales are slow. This is a milestone for AutoBidLive because
we will build the critical mass of dealers and vehicles at no cost to the
dealer. Additionally, we'll build a massive inventory of US vehicles 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 $100 fee."
Cherry Auto Net 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 methods 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. By taking advantage of the space the internet classified offers
allows dealers to post detailed vehicle descriptions. Coupled with multiple
vehicle photos and the ability to "tell the story" about the vehicle or
dealership along with contact options, you have a much better chance of
appealing to potential buyers and making the sale.
Cherry Auto services the Hampton Roads region of Virginia. Cherry Auto also
has dedicated operations in northeast North Carolina, Richmond, northern
Virginia and Maryland. Call 757-925-4976 or email email@example.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 pre-owned
auto 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
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.