SOC Exchange Launches New Auction Capability

. July 14, 2010 . 0 Comments

A state of the art auction capability, featuring two user friendly features, was launched today by The SOC Exchange (www.thesocexchange.com), a leading e-commerce website that allows users to buy and sell items, post unlimited jobs, sell or rent real estate and sell unlimited cars or motorcycles for the flat rate of $10 per year. The announcement was made by SOC founder and CEO Franco Lagudi, who also said that the company is continually offering new and innovative capabilities currently unavailable on most leading auction sites.

Specifically, members of the SOC Exchange can now participate in all auctions and can use two new features that truly differentiate the site – and provide clear member benefits to its members. One new feature from the SOC Exchange allows bidders to enter a bid at any point prior to the end of an auction. What differentiates this auction, however, is when a bid is made during the final ten seconds, the auction time automatically extends by an additional 20 seconds from the time the last bid was placed. The auction will end completely only when all bidding activity has ceased for a period of ten consecutive seconds. There is also an auto-bidding feature, allowing member bidders to enter their maximum bid, with The SOC Exchange submitting bids in $1 increments until their maximum bid is reached.

The second feature allows those auctioning off products a means by which they can pre-certify a bidder in advance of actual bidding. Through this unique online capability, the SOC member looking to auction off an item can pre-screen or certify a potential bidder to ensure they are a reputable and serious bidder. The bidder certification process will be extremely useful when it comes to ‘big ticket’ and ‘specialty’ items. “We have done our best to ensure our auction capability is seamless, easy to use and safe proof for all of our members,” notes Lagudi. “By having the choice to certify each potential bidder in advance, it avoids any problems regarding illegitimate or false bids, “he adds.

The auction capability is the latest in a series of innovations that The SOC Exchange has brought to e-commerce buy/sell sites. This includes the opportunity for members to buy and sell online for a flat yearly fee of $10, eliminating the commissions and fees associated with other sites. “With the success of our buy/sell service, it was time to offer our members the opportunity to participate in online auctions,” says Lagudi. “Thus, we believe that we’ve created an online auction service that provides greater benefits than anything else currently available,” he concludes.

The SOC Exchange has different portals available to members: Buy & Sell, Careers, Auto and Real Estate. Each marketplace is available to users for a flat rate of $10 per year.

Log on to http://www.thesocexchange.com/soc.php?cp=auctionmore to learn more about The Auction System.

About The SOC Exchange
The SOC Exchange is an e-commerce site founded in 2008 that allows the online sale of an unlimited number of goods for the flat rate subscription fee of $10 per year. The site collects no additional commissions or listing fees and provides each seller with their own web store, customized URL and an extensive collection of online marketing tools to maximize sales. TheSOCExchange.com also offers its online platform for careers, auto and real estate. For more information, please visit TheSOCExchange.com

Category: Online Auctions

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