Darple.com Releases Latest Auction Technology
September 12, 2007 (PRLEAP.COM) Technology NewsIrvine, Calif. – September 12, 2007 – Darple.com, a highly innovative auction site, announces the release of state-of-the-art auction technology with Power Bidding.
Known for its double-auction technology, Darple.com has successfully taken bidding practices that have worked in the stock market for decades and has applied this technology to online shopping. The latest innovation, Power Bidding, allows shoppers to bid on all copies of a book/CD/DVD/video game title in a single step. Prior to this technology, shoppers competing in an online auction could only bid on a single item, and if the buyer was outbid, they were left finding a different auction to bid on, often bidding on several auctions one at a time before a purchase if finally made.
“We are very excited about the release of Power Bidding,” says Mark Molloy, founder of Darple.com. “Never has this type of technology been offered for online buyers and sellers. We expect this will revolutionize the way shopping is done online.”
Power Bidding eliminates the hassle of re-bidding, allowing buyers to bid on all copies of a title for sale within the market that meet their pre-qualified conditions.
For example, a buyer is looking for a specific video game for a Nintendo Wii, and the current market has 250 for sale. The buyer selects a combination of desired price, minimum condition of the item, seller feedback, and other criteria, and then bids on all video games within the market. This bid goes out to all sellers of that game meeting the pre-determined conditions. The bid may even be accepted by sellers who haven’t listed their item yet. The overall effect is to create competition among sellers, symmetric to the competition which has always existed between buyers. Once a bid is accepted, bids to other sellers in the market are automatically cancelled, leaving the buyer with a single item.
Aside from removing hassle, Power Bidding ensures buyers receive the most competitive price. As sellers compete to make a sale, it drives the price closer to the fair-market value, just like the buying and selling of stocks within the stock market.
Initially Darple.com began selling college textbooks and CDs. Now Darple.com offers a wide variety of video games for systems such as PlayStation 3, XBOX 360 and Nintendo Wii. Additionally, shoppers can browse through more than 150,000 DVDs, one of the Internet’s largest selections.
Liquid Markets Inc. was founded in 2005, inspired primarily by frustration with existing Internet-based auction markets and the conviction that markets could be simpler, fairer and more transparent. Darple.com is the result of this effort, providing the symmetry, transparency, and fairness of double-auction technology, which has been used in the stock market for years. Darple’s patent-pending technology provides online buyers and sellers with a truly liquid market.
For more information, contact Mark Molloy at Mark.Molloy@Darple.com. Also visit http://www.darple.com.